BNP PARIBAS ASSET MANAGEMENT Holding S.A. Acquires 4,695 Shares of Veeva Systems Inc. (NYSE:VEEV)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 27.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 21,990 shares of the technology company’s stock after purchasing an additional 4,695 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Veeva Systems were worth $4,024,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Advisors Asset Management Inc. purchased a new stake in Veeva Systems during the first quarter worth $28,000. DSM Capital Partners LLC bought a new position in shares of Veeva Systems in the 4th quarter worth $29,000. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Veeva Systems during the 4th quarter worth $32,000. Blue Trust Inc. boosted its position in Veeva Systems by 3,460.0% during the second quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock valued at $33,000 after purchasing an additional 173 shares in the last quarter. Finally, First Financial Corp IN purchased a new position in Veeva Systems in the first quarter valued at about $35,000. 88.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the stock. Canaccord Genuity Group decreased their price target on shares of Veeva Systems from $220.00 to $210.00 and set a “hold” rating for the company in a research report on Friday, May 31st. Evercore ISI decreased their target price on shares of Veeva Systems from $230.00 to $200.00 and set an “in-line” rating for the company in a research report on Friday, May 31st. Robert W. Baird lifted their price target on shares of Veeva Systems from $245.00 to $251.00 and gave the stock an “outperform” rating in a report on Thursday. Bank of America upped their price target on Veeva Systems from $204.00 to $240.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Truist Financial lowered their price objective on Veeva Systems from $203.00 to $197.00 and set a “hold” rating for the company in a research report on Friday, June 14th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $230.13.

Veeva Systems Price Performance

VEEV stock opened at $216.44 on Friday. The company has a market capitalization of $34.99 billion, a P/E ratio of 63.85, a price-to-earnings-growth ratio of 2.12 and a beta of 0.80. Veeva Systems Inc. has a 12 month low of $162.72 and a 12 month high of $236.90. The firm’s fifty day simple moving average is $189.12 and its 200-day simple moving average is $202.12.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings results on Thursday, May 30th. The technology company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.93 by $0.10. The company had revenue of $650.35 million for the quarter, compared to analyst estimates of $641.73 million. Veeva Systems had a net margin of 23.91% and a return on equity of 13.69%. As a group, sell-side analysts forecast that Veeva Systems Inc. will post 4.19 earnings per share for the current year.

Insider Activity

In related news, CFO Timothy S. Cabral sold 15,000 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $184.33, for a total transaction of $2,764,950.00. Following the sale, the chief financial officer now directly owns 8,391 shares of the company’s stock, valued at $1,546,713.03. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, SVP Jonathan Faddis sold 2,353 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $200.00, for a total value of $470,600.00. Following the completion of the sale, the senior vice president now owns 9,035 shares of the company’s stock, valued at approximately $1,807,000. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Timothy S. Cabral sold 15,000 shares of the company’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $184.33, for a total transaction of $2,764,950.00. Following the transaction, the chief financial officer now owns 8,391 shares of the company’s stock, valued at $1,546,713.03. The disclosure for this sale can be found here. Insiders own 10.50% of the company’s stock.

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.