Alliancebernstein L.P. Has $1.04 Billion Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Alliancebernstein L.P. reduced its holdings in Veeva Systems Inc. (NYSE:VEEV) by 20.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 4,967,382 shares of the technology company’s stock after selling 1,238,794 shares during the quarter. Alliancebernstein L.P.’s holdings in Veeva Systems were worth $1,044,392,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Norges Bank acquired a new stake in Veeva Systems in the fourth quarter valued at $294,785,000. Principal Financial Group Inc. grew its position in shares of Veeva Systems by 138.9% in the 3rd quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock valued at $457,366,000 after buying an additional 1,267,061 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Veeva Systems by 73.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company’s stock valued at $536,972,000 after buying an additional 1,081,501 shares during the last quarter. Wealthfront Advisers LLC increased its stake in shares of Veeva Systems by 29,760.5% in the fourth quarter. Wealthfront Advisers LLC now owns 1,048,700 shares of the technology company’s stock valued at $220,489,000 after buying an additional 1,045,188 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of Veeva Systems during the fourth quarter worth about $95,710,000. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Down 1.4 %

Shares of Veeva Systems stock opened at $234.10 on Monday. The company has a market cap of $38.01 billion, a PE ratio of 57.80, a price-to-earnings-growth ratio of 1.89 and a beta of 0.88. Veeva Systems Inc. has a 52 week low of $170.25 and a 52 week high of $258.93. The business has a 50 day moving average price of $231.62 and a 200-day moving average price of $222.87.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on VEEV. Barclays increased their target price on shares of Veeva Systems from $260.00 to $275.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Stifel Nicolaus increased their price objective on shares of Veeva Systems from $240.00 to $272.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Canaccord Genuity Group boosted their target price on shares of Veeva Systems from $210.00 to $270.00 and gave the company a “hold” rating in a report on Friday, December 6th. Wells Fargo & Company increased their price target on Veeva Systems from $275.00 to $285.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Finally, Citigroup boosted their price objective on Veeva Systems from $281.00 to $307.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $256.52.

Veeva Systems Company Profile

Veeva Systems Inc provides cloud-based software for the life sciences industry. It offers Veeva Commercial Cloud, a suite of software and analytics solutions, such as Veeva customer relationship management (CRM) that enable customer-facing employees at pharmaceutical and biotechnology companies; Veeva Vault PromoMats, an end-to-end content and digital asset management solution; Veeva Vault Medical that provides source of medical content across multiple channels and geographies; Veeva Crossix, an analytics platform for pharmaceutical brands; Veeva OpenData, a customer reference data solution; Veeva Link, a data application that allows link to generate real-time intelligence; and Veeva Compass includes de-identified and longitudinal patient data for the United States.