APG Asset Management US Inc. Acquires 993 Shares of Veeva Systems Inc. (NYSE:VEEV)

APG Asset Management US Inc. raised its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 2.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,747 shares of the technology company’s stock after acquiring an additional 993 shares during the quarter. APG Asset Management US Inc.’s holdings in Veeva Systems were worth $8,129,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of VEEV. Corient Private Wealth LLC increased its holdings in Veeva Systems by 1.4% in the 4th quarter. Corient Private Wealth LLC now owns 10,792 shares of the technology company’s stock worth $2,078,000 after acquiring an additional 148 shares in the last quarter. Orion Portfolio Solutions LLC increased its stake in shares of Veeva Systems by 33.5% in the fourth quarter. Orion Portfolio Solutions LLC now owns 7,054 shares of the technology company’s stock worth $1,344,000 after purchasing an additional 1,771 shares in the last quarter. Hsbc Holdings PLC increased its stake in shares of Veeva Systems by 59.6% in the fourth quarter. Hsbc Holdings PLC now owns 108,090 shares of the technology company’s stock worth $20,869,000 after purchasing an additional 40,381 shares in the last quarter. Stifel Financial Corp lifted its stake in shares of Veeva Systems by 12.9% during the 4th quarter. Stifel Financial Corp now owns 98,790 shares of the technology company’s stock valued at $19,019,000 after buying an additional 11,325 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its stake in shares of Veeva Systems by 9.8% during the 4th quarter. Allianz Asset Management GmbH now owns 238,012 shares of the technology company’s stock valued at $45,822,000 after buying an additional 21,227 shares in the last quarter. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Up 2.1 %

VEEV stock opened at $209.46 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 market capitalization of $33.92 billion, a price-to-earnings ratio of 61.79, a price-to-earnings-growth ratio of 2.02 and a beta of 0.81. The firm’s fifty day simple moving average is $200.64 and its two-hundred day simple moving average is $201.17.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings results 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 company had revenue of $676.18 million for the quarter, compared to the consensus estimate of $667.21 million. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. As a group, equities research analysts expect that Veeva Systems Inc. will post 4.21 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on VEEV shares. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 price target on shares of Veeva Systems in a report on Thursday, August 29th. Barclays boosted their price target on Veeva Systems from $220.00 to $240.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. TD Cowen increased their price objective on shares of Veeva Systems from $180.00 to $192.00 and gave the company a “hold” rating in a report on Thursday, August 29th. Truist Financial lifted their price objective on shares of Veeva Systems from $197.00 to $207.00 and gave the company a “hold” rating in a research report on Tuesday, September 3rd. Finally, Piper Sandler raised their target price 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. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $229.96.

Insider Transactions at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 2,353 shares of the company’s stock in a transaction 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 transaction, the senior vice president now owns 9,035 shares of the company’s stock, valued at approximately $1,807,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 10.50% of the company’s stock.

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.