Vontobel Holding Ltd. Buys 1,380 Shares of Veeva Systems Inc. (NYSE:VEEV)

Vontobel Holding Ltd. increased its stake in Veeva Systems Inc. (NYSE:VEEV) by 6.1% during the third quarter, HoldingsChannel reports. The firm owned 23,829 shares of the technology company’s stock after acquiring an additional 1,380 shares during the period. Vontobel Holding Ltd.’s holdings in Veeva Systems were worth $5,001,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. EP Wealth Advisors LLC purchased a new stake in Veeva Systems in the fourth quarter worth $202,000. SageView Advisory Group LLC purchased a new position in shares of Veeva Systems during the 4th quarter valued at $320,000. HighPoint Advisor Group LLC bought a new position in shares of Veeva Systems during the 4th quarter worth $380,000. NBC Securities Inc. purchased a new stake in Veeva Systems in the 1st quarter worth about $283,000. Finally, GAMMA Investing LLC raised its stake in Veeva Systems by 10.8% in the 1st quarter. GAMMA Investing LLC now owns 844 shares of the technology company’s stock valued at $196,000 after acquiring an additional 82 shares during the period. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Trading Down 0.1 %

Shares of Veeva Systems stock opened at $217.02 on Friday. The business’s 50-day moving average price is $207.70 and its 200-day moving average price is $198.95. The firm has a market capitalization of $35.14 billion, a PE ratio of 57.87, a price-to-earnings-growth ratio of 2.05 and a beta of 0.81. Veeva Systems Inc. has a 12 month low of $162.72 and a 12 month high of $236.90.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings results on Wednesday, August 28th. The technology company reported $1.07 EPS 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 firm had revenue of $676.18 million for the quarter, compared to the consensus estimate of $667.21 million. As a group, analysts predict that Veeva Systems Inc. will post 4.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Jonathan Faddis sold 2,353 shares of the firm’s 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 transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. TD Cowen lifted their target price on shares of Veeva Systems from $180.00 to $192.00 and gave the stock a “hold” rating in a research note on Thursday, August 29th. BTIG Research assumed coverage on shares of Veeva Systems in a report on Tuesday, July 9th. They set a “buy” rating and a $240.00 target price on the stock. Citigroup raised their price target on Veeva Systems from $256.00 to $273.00 and gave the stock a “buy” rating in a report on Tuesday, August 27th. BNP Paribas initiated coverage on Veeva Systems in a research note on Tuesday, October 8th. They set an “outperform” rating and a $286.00 price objective on the stock. Finally, Truist Financial increased their price objective on Veeva Systems from $197.00 to $207.00 and gave the stock a “hold” rating in a report on Tuesday, September 3rd. One 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, Veeva Systems has a consensus rating of “Moderate Buy” and a consensus price target of $232.96.

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.