Veeva Systems Inc. (NYSE:VEEV) Shares Acquired by Natixis Advisors LLC

Natixis Advisors LLC increased its position in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 61.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 105,726 shares of the technology company's stock after acquiring an additional 40,040 shares during the period. Natixis Advisors LLC owned approximately 0.07% of Veeva Systems worth $22,189,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. lifted its stake in shares of Veeva Systems by 138.9% during the 3rd quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company's stock worth $457,366,000 after buying an additional 1,267,061 shares during the last quarter. Swedbank AB purchased a new position in shares of Veeva Systems during the first quarter worth approximately $227,673,000. Matrix Capital Management Company LP boosted its holdings in shares of Veeva Systems by 635.4% during the 1st quarter. Matrix Capital Management Company LP now owns 498,821 shares of the technology company's stock valued at $115,572,000 after buying an additional 430,989 shares in the last quarter. Jupiter Asset Management Ltd. increased its position in shares of Veeva Systems by 84.0% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 453,933 shares of the technology company's stock valued at $83,074,000 after purchasing an additional 207,222 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ boosted its position in shares of Veeva Systems by 545.5% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 195,486 shares of the technology company's stock valued at $35,776,000 after acquiring an additional 165,203 shares during the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Veeva Systems Trading Down 0.7 %

NYSE VEEV traded down $1.48 during trading hours on Tuesday, hitting $212.20. The company's stock had a trading volume of 708,402 shares, compared to its average volume of 946,867. The company's 50-day simple moving average is $215.19 and its two-hundred day simple moving average is $200.89. Veeva Systems Inc. has a 52 week low of $165.12 and a 52 week high of $240.68. The company has a market capitalization of $34.36 billion, a PE ratio of 56.98, a price-to-earnings-growth ratio of 2.06 and a beta of 0.81.

Veeva Systems (NYSE:VEEV - Get Free Report) last released its earnings results on Wednesday, August 28th. The technology company reported $1.07 earnings per share (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 during the quarter, compared to analyst estimates of $667.21 million. Research analysts anticipate that Veeva Systems Inc. will post 4.21 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on VEEV shares. Barclays lifted their price target on Veeva Systems from $240.00 to $260.00 and gave the stock an "overweight" rating in a research note on Friday, November 8th. Royal Bank of Canada increased their target price on Veeva Systems from $250.00 to $275.00 and gave the company an "outperform" rating in a report on Friday, November 8th. Truist Financial lifted their target price on shares of Veeva Systems from $197.00 to $207.00 and gave the company a "hold" rating in a research note on Tuesday, September 3rd. Needham & Company LLC restated a "buy" rating and set a $260.00 price objective on shares of Veeva Systems in a research note on Friday, November 8th. Finally, Raymond James lifted their target price on shares of Veeva Systems from $230.00 to $235.00 and gave the stock an "outperform" rating in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $236.92.

Insider Activity at Veeva Systems

In related news, SVP Jonathan Faddis sold 2,353 shares of the business's stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $200.00, for a total value of $470,600.00. Following the sale, the senior vice president now directly owns 9,035 shares in the company, valued at approximately $1,807,000. The trade was a 20.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Thomas D. Schwenger sold 1,126 shares of the firm's stock in a transaction on Friday, November 8th. The shares were sold at an average price of $240.01, for a total value of $270,251.26. Following the transaction, the insider now owns 27,013 shares of the company's stock, valued at $6,483,390.13. The trade was a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 10.50% of the company's stock.

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.