Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Creative Planning

Creative Planning decreased its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 16.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,469 shares of the technology company’s stock after selling 6,110 shares during the period. Creative Planning’s holdings in Veeva Systems were worth $6,604,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of 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 period. Swedbank AB acquired a new stake in Veeva Systems during the 1st quarter worth approximately $227,673,000. Principal Financial Group Inc. boosted its position 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 buying an additional 837,593 shares during the period. Matrix Capital Management Company LP grew its stake in shares of Veeva Systems by 635.4% in the first quarter. Matrix Capital Management Company LP now owns 498,821 shares of the technology company’s stock worth $115,572,000 after acquiring an additional 430,989 shares in the last quarter. Finally, Acadian Asset Management LLC increased its position in shares of Veeva Systems by 83.8% during the first quarter. Acadian Asset Management LLC now owns 618,344 shares of the technology company’s stock worth $143,235,000 after acquiring an additional 281,993 shares during the period. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

VEEV has been the subject of a number of recent research reports. Robert W. Baird lifted their target price on Veeva Systems from $245.00 to $251.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. BTIG Research initiated coverage on shares of Veeva Systems in a research note on Tuesday, July 9th. They set a “buy” rating and a $240.00 target price on the stock. Guggenheim lifted their price target on shares of Veeva Systems from $233.00 to $249.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Piper Sandler increased their price objective on shares of Veeva Systems from $225.00 to $230.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Veeva Systems from $203.00 to $208.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $232.96.

Veeva Systems Trading Down 0.9 %

VEEV stock opened at $217.68 on Thursday. The company has a market capitalization of $35.19 billion, a P/E ratio of 64.21, a PEG ratio of 2.15 and a beta of 0.81. The business has a 50 day simple moving average of $210.29 and a 200-day simple moving average of $198.85. Veeva Systems Inc. has a twelve month low of $162.72 and a twelve month high of $236.90.

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

Insider Buying and Selling

In other Veeva Systems news, SVP Jonathan Faddis sold 2,353 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate 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.