Intech Investment Management LLC Sells 11,572 Shares of Veeva Systems Inc. (NYSE:VEEV)

Intech Investment Management LLC lessened its holdings in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 12.6% in the third quarter, according to its most recent filing with the SEC. The firm owned 80,087 shares of the technology company's stock after selling 11,572 shares during the period. Intech Investment Management LLC's holdings in Veeva Systems were worth $16,808,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. O Shaughnessy Asset Management LLC increased its holdings in Veeva Systems by 16.8% in the first quarter. O Shaughnessy Asset Management LLC now owns 7,091 shares of the technology company's stock valued at $1,643,000 after purchasing an additional 1,020 shares during the last quarter. UniSuper Management Pty Ltd increased its stake in shares of Veeva Systems by 100.0% in the 1st quarter. UniSuper Management Pty Ltd now owns 2,200 shares of the technology company's stock valued at $510,000 after acquiring an additional 1,100 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Veeva Systems in the 1st quarter valued at approximately $1,086,000. CreativeOne Wealth LLC boosted its stake in Veeva Systems by 18.6% during the 1st quarter. CreativeOne Wealth LLC now owns 1,425 shares of the technology company's stock worth $330,000 after acquiring an additional 223 shares during the last quarter. Finally, Advisors Asset Management Inc. acquired a new position in Veeva Systems during the first quarter valued at approximately $28,000. Institutional investors own 88.20% of the company's stock.

Veeva Systems Stock Up 0.4 %

VEEV opened at $210.63 on Thursday. The stock has a market cap of $34.11 billion, a price-to-earnings ratio of 56.17, a PEG ratio of 2.03 and a beta of 0.81. Veeva Systems Inc. has a 12-month low of $165.12 and a 12-month high of $240.68. The business has a 50 day moving average of $214.68 and a 200-day moving average of $201.00.

Veeva Systems (NYSE:VEEV - Get Free Report) last released its quarterly earnings data 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 firm 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, analysts expect that Veeva Systems Inc. will post 4.21 earnings per share for the current year.

Insider Activity

In related news, insider Thomas D. Schwenger sold 1,126 shares of the business's stock in a transaction on Friday, November 8th. The stock was sold at an average price of $240.01, for a total value of $270,251.26. Following the completion of the sale, the insider now directly owns 27,013 shares in the company, valued at $6,483,390.13. The trade was a 4.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 10.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on VEEV shares. Citigroup lifted their price target on shares of Veeva Systems from $256.00 to $273.00 and gave the stock a "buy" rating in a research report on Tuesday, August 27th. Barclays boosted their target price on Veeva Systems from $240.00 to $260.00 and gave the company an "overweight" rating in a research note on Friday, November 8th. Robert W. Baird dropped their price target on Veeva Systems from $251.00 to $245.00 and set an "outperform" rating on the stock in a research report on Monday, October 28th. StockNews.com upgraded Veeva Systems from a "hold" rating to a "buy" rating in a research report on Saturday, November 9th. Finally, Bank of America increased their target price on Veeva Systems from $204.00 to $240.00 and gave the stock a "neutral" rating in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $236.92.

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.

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