Veeva Systems Inc. (NYSE:VEEV) Shares Acquired by Scientech Research LLC

Scientech Research LLC increased its position in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 380.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,906 shares of the technology company's stock after acquiring an additional 9,427 shares during the period. Scientech Research LLC's holdings in Veeva Systems were worth $2,179,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of VEEV. APG Asset Management US Inc. purchased a new stake in shares of Veeva Systems in the fourth quarter valued at about $5,756,000. Eisler Capital UK Ltd. acquired a new stake in Veeva Systems during the 4th quarter valued at $1,408,000. Oberndorf William E acquired a new position in shares of Veeva Systems in the fourth quarter worth $8,011,000. Envestnet Portfolio Solutions Inc. lifted its position in shares of Veeva Systems by 44.9% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 29,782 shares of the technology company's stock valued at $5,450,000 after acquiring an additional 9,232 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its position in Veeva Systems by 30.8% during the 1st quarter. BNP Paribas Financial Markets now owns 89,023 shares of the technology company's stock worth $20,626,000 after purchasing an additional 20,982 shares in the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Needham & Company LLC reiterated a "buy" rating and set a $260.00 price target on shares of Veeva Systems in a report on Thursday, August 29th. Truist Financial lifted their price objective on Veeva Systems from $197.00 to $207.00 and gave the company a "hold" rating in a research report on Tuesday, September 3rd. TD Cowen increased their target price on Veeva Systems from $180.00 to $192.00 and gave the stock a "hold" rating in a research report on Thursday, August 29th. Citigroup upped their price objective on shares of Veeva Systems from $256.00 to $273.00 and gave the company a "buy" rating in a research note on Tuesday, August 27th. Finally, BTIG Research started coverage on shares of Veeva Systems in a research report on Tuesday, July 9th. They issued a "buy" rating and a $240.00 target price on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $229.96.

Veeva Systems Trading Up 0.5 %

NYSE:VEEV traded up $1.10 on Friday, reaching $210.53. The stock had a trading volume of 427,111 shares, compared to its average volume of 969,794. Veeva Systems Inc. has a 12-month low of $162.72 and a 12-month high of $236.90. The stock has a market cap of $34.09 billion, a P/E ratio of 61.79, a price-to-earnings-growth ratio of 2.02 and a beta of 0.81. The company has a 50-day moving average of $201.22 and a 200 day moving average of $201.23.

Veeva Systems (NYSE:VEEV - Get Free Report) last issued its quarterly earnings results on Wednesday, August 28th. The technology company reported $1.07 EPS for the quarter, beating analysts' consensus estimates of $1.04 by $0.03. Veeva Systems had a return on equity of 13.30% and a net margin of 23.91%. The firm had revenue of $676.18 million during the quarter, compared to the consensus estimate of $667.21 million. On average, equities analysts predict that Veeva Systems Inc. will post 4.21 EPS for the current year.

Insider Buying and Selling

In other Veeva Systems news, SVP Jonathan Faddis sold 2,353 shares of the firm's stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $200.00, for a total transaction of $470,600.00. Following the completion of the transaction, the senior vice president now directly owns 9,035 shares of the company's stock, valued at approximately $1,807,000. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 10.50% of the company's stock.

Veeva Systems 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.