Veeva Systems Inc. (NYSE:VEEV) Shares Purchased by abrdn plc

abrdn plc increased its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 86.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,060 shares of the technology company’s stock after acquiring an additional 13,910 shares during the period. abrdn plc’s holdings in Veeva Systems were worth $6,309,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of VEEV. Advisors Asset Management Inc. acquired a new stake in Veeva Systems in the 1st quarter valued at about $28,000. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in Veeva Systems in the 3rd quarter valued at about $26,000. Larson Financial Group LLC raised its position in Veeva Systems by 1,153.8% in the 1st quarter. Larson Financial Group LLC now owns 163 shares of the technology company’s stock valued at $38,000 after purchasing an additional 150 shares in the last quarter. Blue Trust Inc. raised its position in Veeva Systems by 3,460.0% in the 2nd 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, DT Investment Partners LLC acquired a new stake in Veeva Systems in the 2nd quarter valued at about $35,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Trading Up 1.9 %

Veeva Systems stock opened at $212.78 on Friday. Veeva Systems Inc. has a twelve month low of $162.72 and a twelve month high of $236.90. The stock has a 50 day moving average of $212.62 and a two-hundred day moving average of $199.03. The stock has a market capitalization of $34.46 billion, a price-to-earnings ratio of 56.74, a PEG ratio of 2.03 and a beta of 0.81.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings data 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. Veeva Systems had a return on equity of 13.30% and a net margin of 23.91%. The company had revenue of $676.18 million during the quarter, compared to analysts’ expectations of $667.21 million. Equities analysts predict that Veeva Systems Inc. will post 4.21 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Raymond James increased their price target on Veeva Systems from $230.00 to $235.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. TD Cowen increased their price target on Veeva Systems from $180.00 to $192.00 and gave the company a “hold” rating in a research report on Thursday, August 29th. BNP Paribas initiated coverage on Veeva Systems in a report on Tuesday, October 8th. They issued an “outperform” rating and a $286.00 price objective on the stock. UBS Group increased their price objective on Veeva Systems from $185.00 to $215.00 and gave the company a “neutral” rating in a report on Monday, August 26th. Finally, Citigroup increased their price objective on Veeva Systems from $256.00 to $273.00 and gave the company a “buy” rating in a report on Tuesday, August 27th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, Veeva Systems has a consensus rating of “Moderate Buy” and a consensus price target of $232.87.

Insiders Place Their Bets

In other news, SVP Jonathan Faddis sold 2,353 shares of the firm’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 value 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 trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 10.50% of the stock is owned by insiders.

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.