Veeva Systems Inc. (NYSE:VEEV) Shares Sold by International Assets Investment Management LLC

International Assets Investment Management LLC lessened its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 41.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 618 shares of the technology company’s stock after selling 430 shares during the quarter. International Assets Investment Management LLC’s holdings in Veeva Systems were worth $113,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. iA Global Asset Management Inc. grew its holdings in shares of Veeva Systems by 48.8% during the second quarter. iA Global Asset Management Inc. now owns 8,708 shares of the technology company’s stock worth $1,594,000 after buying an additional 2,857 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in Veeva Systems by 27.1% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 21,990 shares of the technology company’s stock worth $4,024,000 after acquiring an additional 4,695 shares during the last quarter. Peregrine Capital Management LLC grew its stake in Veeva Systems by 1.9% in the 2nd quarter. Peregrine Capital Management LLC now owns 266,505 shares of the technology company’s stock worth $48,773,000 after acquiring an additional 4,948 shares during the period. Principal Financial Group Inc. raised its holdings in Veeva Systems by 1,122.3% in the 2nd quarter. Principal Financial Group Inc. now owns 912,223 shares of the technology company’s stock valued at $166,946,000 after acquiring an additional 837,593 shares during the last quarter. Finally, Panagora Asset Management Inc. lifted its stake in shares of Veeva Systems by 46.0% during the 2nd quarter. Panagora Asset Management Inc. now owns 396,540 shares of the technology company’s stock worth $72,571,000 after purchasing an additional 125,012 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Price Performance

Shares of Veeva Systems stock opened at $216.44 on Tuesday. Veeva Systems Inc. has a 1-year low of $162.72 and a 1-year high of $236.90. The business’s fifty day moving average price is $189.71 and its two-hundred day moving average price is $201.85. The company has a market capitalization of $34.99 billion, a P/E ratio of 63.85, a PEG ratio of 2.11 and a beta of 0.81.

Insider Activity at Veeva Systems

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on VEEV shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 price objective on shares of Veeva Systems in a research report on Thursday, August 29th. Bank of America upped their price objective on shares of Veeva Systems from $204.00 to $240.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Stifel Nicolaus decreased their target price on shares of Veeva Systems from $250.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, May 31st. Royal Bank of Canada restated an “outperform” rating and issued a $250.00 target price on shares of Veeva Systems in a report on Thursday, August 29th. Finally, Evercore ISI cut their price target on shares of Veeva Systems from $230.00 to $200.00 and set an “in-line” rating on the stock in a research note on Friday, May 31st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $230.13.

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.