BNP Paribas Financial Markets Sells 24,321 Shares of Veeva Systems Inc. (NYSE:VEEV)

BNP Paribas Financial Markets lowered its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 26.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 67,264 shares of the technology company’s stock after selling 24,321 shares during the period. BNP Paribas Financial Markets’ holdings in Veeva Systems were worth $14,117,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of VEEV. Patriot Financial Group Insurance Agency LLC raised its position in shares of Veeva Systems by 0.7% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 6,924 shares of the technology company’s stock worth $1,453,000 after purchasing an additional 48 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of Veeva Systems by 1.2% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,307 shares of the technology company’s stock worth $904,000 after buying an additional 50 shares in the last quarter. Clearbridge Investments LLC grew its holdings in shares of Veeva Systems by 0.4% during the second quarter. Clearbridge Investments LLC now owns 11,682 shares of the technology company’s stock valued at $2,138,000 after buying an additional 52 shares during the last quarter. Park Place Capital Corp raised its holdings in Veeva Systems by 11.5% in the 3rd quarter. Park Place Capital Corp now owns 574 shares of the technology company’s stock worth $120,000 after acquiring an additional 59 shares during the last quarter. Finally, Quintet Private Bank Europe S.A. lifted its position in Veeva Systems by 13.4% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 516 shares of the technology company’s stock valued at $108,000 after acquiring an additional 61 shares in the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Wall Street Analysts Forecast Growth

VEEV has been the subject of several recent analyst reports. BNP Paribas began coverage on Veeva Systems in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $286.00 price target for the company. JPMorgan Chase & Co. upped their target price on shares of Veeva Systems from $203.00 to $208.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. Robert W. Baird reduced their price target on shares of Veeva Systems from $251.00 to $245.00 and set an “outperform” rating for the company in a research note on Monday, October 28th. StockNews.com upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. Finally, Truist Financial lifted their target price on shares of Veeva Systems from $197.00 to $207.00 and gave the stock a “hold” rating in a research report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Veeva Systems has a consensus rating of “Moderate Buy” and an average price target of $236.92.

Insider Activity

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,126 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $240.01, for a total transaction of $270,251.26. Following the completion of the sale, the insider now directly owns 27,013 shares of the company’s stock, valued at $6,483,390.13. This trade represents a 4.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 10.50% of the company’s stock.

Veeva Systems Stock Performance

VEEV opened at $227.85 on Monday. The stock has a market cap of $36.90 billion, a price-to-earnings ratio of 60.76, a price-to-earnings-growth ratio of 2.21 and a beta of 0.81. The firm’s fifty day moving average is $215.71 and its 200 day moving average is $201.92. Veeva Systems Inc. has a fifty-two week low of $165.12 and a fifty-two week high of $240.68.

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.