Veeva Systems Inc. (NYSE:VEEV) Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC boosted its holdings in Veeva Systems Inc. (NYSE:VEEV) by 30.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 148,502 shares of the technology company’s stock after purchasing an additional 34,896 shares during the quarter. Hsbc Holdings PLC owned about 0.09% of Veeva Systems worth $27,202,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in VEEV. Elo Mutual Pension Insurance Co boosted its holdings in shares of Veeva Systems by 0.5% in the 2nd quarter. Elo Mutual Pension Insurance Co now owns 14,047 shares of the technology company’s stock valued at $2,571,000 after buying an additional 70 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in Veeva Systems by 8.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 10,388 shares of the technology company’s stock valued at $1,901,000 after acquiring an additional 819 shares during the last quarter. Amalgamated Bank boosted its stake in Veeva Systems by 2.1% in the second quarter. Amalgamated Bank now owns 9,968 shares of the technology company’s stock valued at $1,824,000 after acquiring an additional 201 shares in the last quarter. Argent Trust Co grew its holdings in shares of Veeva Systems by 12.6% during the second quarter. Argent Trust Co now owns 5,498 shares of the technology company’s stock worth $1,006,000 after purchasing an additional 616 shares during the last quarter. Finally, Montag & Caldwell LLC increased its position in shares of Veeva Systems by 3.3% during the second quarter. Montag & Caldwell LLC now owns 3,395 shares of the technology company’s stock worth $621,000 after purchasing an additional 110 shares in the last quarter. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on VEEV. BTIG Research assumed coverage on Veeva Systems in a research note on Tuesday, July 9th. They set a “buy” rating and a $240.00 price target on the stock. Evercore ISI cut their target price on shares of Veeva Systems from $230.00 to $200.00 and set an “in-line” rating on the stock in a report on Friday, May 31st. Bank of America increased their price target on shares of Veeva Systems from $204.00 to $240.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Piper Sandler lifted their price objective on shares of Veeva Systems from $225.00 to $230.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Finally, Morgan Stanley decreased their target price on shares of Veeva Systems from $210.00 to $173.00 and set an “underweight” rating for the company in a research note on Friday, May 31st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $229.96.

Insider Activity at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 2,353 shares of the business’s stock in a transaction 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 sale, the senior vice president now directly owns 9,035 shares in the company, valued at $1,807,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 10.50% of the stock is currently owned by company insiders.

Veeva Systems Stock Performance

Shares of NYSE VEEV opened at $214.88 on Friday. The company’s fifty day moving average is $199.25 and its two-hundred day moving average is $201.58. The firm has a market capitalization of $34.74 billion, a P/E ratio of 63.39, a PEG ratio of 2.12 and a beta of 0.81. Veeva Systems Inc. has a one year low of $162.72 and a one year high of $236.90.

Veeva Systems (NYSE:VEEV) last issued its earnings results on Wednesday, August 28th. The technology company reported $1.07 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $667.21 million. On average, sell-side analysts forecast that Veeva Systems Inc. will post 4.2 earnings per share for the current fiscal year.

About Veeva Systems

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.