DekaBank Deutsche Girozentrale Sells 669 Shares of Veeva Systems Inc. (NYSE:VEEV)

DekaBank Deutsche Girozentrale lowered its position in Veeva Systems Inc. (NYSE:VEEV) by 1.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 51,742 shares of the technology company’s stock after selling 669 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Veeva Systems were worth $10,843,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Veeva Systems by 7.5% in the 1st 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 in the last quarter. Swedbank AB purchased a new position in Veeva Systems during the first quarter valued at approximately $227,673,000. Principal Financial Group Inc. raised its stake in 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 worth $166,946,000 after buying an additional 837,593 shares in the last quarter. Matrix Capital Management Company LP lifted its holdings in Veeva Systems by 635.4% during the first quarter. Matrix Capital Management Company LP now owns 498,821 shares of the technology company’s stock worth $115,572,000 after buying an additional 430,989 shares during the period. Finally, Acadian Asset Management LLC boosted its position in Veeva Systems by 83.8% during the 1st quarter. Acadian Asset Management LLC now owns 618,344 shares of the technology company’s stock valued at $143,235,000 after acquiring an additional 281,993 shares in the last quarter. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on VEEV. Citigroup boosted their price target on Veeva Systems from $256.00 to $273.00 and gave the stock a “buy” rating in a research report on Tuesday, August 27th. Raymond James raised their price target on shares of Veeva Systems from $230.00 to $235.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Barclays boosted their price objective on shares of Veeva Systems from $220.00 to $240.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. TD Cowen raised their target price on shares of Veeva Systems from $180.00 to $192.00 and gave the company a “hold” rating in a research note on Thursday, August 29th. Finally, Truist Financial lifted their price target on shares of Veeva Systems from $197.00 to $207.00 and gave the stock a “hold” rating in a report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $232.87.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems 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 transaction of $470,600.00. Following the sale, the senior vice president now directly owns 9,035 shares of the company’s stock, valued at approximately $1,807,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 10.50% of the stock is owned by corporate insiders.

Veeva Systems Stock Up 0.3 %

Shares of NYSE VEEV opened at $214.56 on Thursday. Veeva Systems Inc. has a 52 week low of $162.72 and a 52 week high of $236.90. The business’s 50 day moving average price is $212.11 and its 200 day moving average price is $198.89. The firm has a market cap of $34.74 billion, a P/E ratio of 57.22, a P/E/G ratio of 2.06 and a beta of 0.81.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Wednesday, August 28th. The technology company reported $1.07 EPS for the quarter, beating the consensus estimate of $1.04 by $0.03. The business 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%. As a group, research analysts expect that Veeva Systems Inc. will post 4.21 earnings per share for the current year.

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.