Cwm LLC Raises Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Cwm LLC increased its position in Veeva Systems Inc. (NYSE:VEEV) by 61.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,770 shares of the technology company’s stock after acquiring an additional 2,574 shares during the period. Cwm LLC’s holdings in Veeva Systems were worth $1,421,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of VEEV. Vanguard Group Inc. grew its holdings in Veeva Systems by 7.5% in the first quarter. Vanguard Group Inc. now owns 14,150,070 shares of the technology company’s stock valued at $3,278,430,000 after purchasing an additional 991,208 shares during the last quarter. Van ECK Associates Corp grew its stake in Veeva Systems by 9.0% in the 1st quarter. Van ECK Associates Corp now owns 1,934,150 shares of the technology company’s stock valued at $448,123,000 after acquiring an additional 159,085 shares during the last quarter. TD Asset Management Inc increased its holdings in Veeva Systems by 17.5% during the 1st quarter. TD Asset Management Inc now owns 1,227,223 shares of the technology company’s stock valued at $284,335,000 after acquiring an additional 182,762 shares in the last quarter. Swedbank AB raised its position in Veeva Systems by 4.9% during the second quarter. Swedbank AB now owns 1,031,064 shares of the technology company’s stock worth $188,695,000 after acquiring an additional 48,402 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Veeva Systems by 1,122.3% in the second quarter. Principal Financial Group Inc. now owns 912,223 shares of the technology company’s stock valued at $166,946,000 after purchasing an additional 837,593 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Insider Transactions at Veeva Systems

In related news, SVP Jonathan Faddis sold 2,353 shares of the stock in a transaction dated Wednesday, August 21st. The stock was 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 owns 9,035 shares of the company’s stock, valued at approximately $1,807,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 10.50% of the company’s stock.

Veeva Systems Stock Performance

VEEV stock opened at $210.10 on Wednesday. The firm has a market cap of $33.96 billion, a P/E ratio of 61.98, a price-to-earnings-growth ratio of 2.04 and a beta of 0.81. Veeva Systems Inc. has a 1 year low of $162.72 and a 1 year high of $236.90. The stock has a 50-day simple moving average of $206.36 and a 200-day simple moving average of $198.69.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Wednesday, August 28th. The technology company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.03. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. The company had revenue of $676.18 million during the quarter, compared to the consensus estimate of $667.21 million. On average, equities research analysts predict that Veeva Systems Inc. will post 4.21 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on VEEV shares. TD Cowen lifted their price objective on Veeva Systems from $180.00 to $192.00 and gave the stock a “hold” rating in a research report on Thursday, August 29th. BTIG Research assumed coverage on shares of Veeva Systems in a research note on Tuesday, July 9th. They set a “buy” rating and a $240.00 price target on the stock. Barclays boosted their price objective on shares of Veeva Systems from $220.00 to $240.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Truist Financial lifted their target price on shares of Veeva Systems from $197.00 to $207.00 and gave the stock a “hold” rating in a research note on Tuesday, September 3rd. Finally, Bank of America increased their price target on Veeva Systems from $204.00 to $240.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $232.96.

Veeva Systems 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.