Oddo BHF Asset Management Sas Purchases New Shares in Veeva Systems Inc. (NYSE:VEEV)

Oddo BHF Asset Management Sas purchased a new stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 56,080 shares of the technology company's stock, valued at approximately $11,770,000.

Several other hedge funds also recently made changes to their positions in the business. Patriot Financial Group Insurance Agency LLC raised its position in Veeva Systems by 0.7% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 6,924 shares of the technology company's stock valued at $1,453,000 after purchasing an additional 48 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its stake in Veeva Systems by 1.2% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,307 shares of the technology company's stock worth $904,000 after acquiring an additional 50 shares in the last quarter. Clearbridge Investments LLC grew its stake in shares of Veeva Systems by 0.4% in the 2nd 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 period. Park Place Capital Corp grew its stake in Veeva Systems by 11.5% in the third quarter. Park Place Capital Corp now owns 574 shares of the technology company's stock valued at $120,000 after acquiring an additional 59 shares during the period. Finally, Quintet Private Bank Europe S.A. increased its stake in Veeva Systems by 13.4% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 516 shares of the technology company's stock valued at $108,000 after purchasing an additional 61 shares in the last quarter. 88.20% of the stock is owned by institutional investors.

Veeva Systems Price Performance

NYSE VEEV traded down $3.70 during trading on Friday, hitting $228.78. The company's stock had a trading volume of 808,430 shares, compared to its average volume of 983,160. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93. The company has a market cap of $37.05 billion, a PE ratio of 57.40, a P/E/G ratio of 2.07 and a beta of 0.82. The business's 50 day simple moving average is $220.87 and its 200-day simple moving average is $203.83.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on VEEV shares. Evercore ISI boosted their price objective on Veeva Systems from $220.00 to $245.00 and gave the company an "in-line" rating in a research note on Friday, December 6th. Robert W. Baird upped their price target on shares of Veeva Systems from $275.00 to $283.00 and gave the company an "outperform" rating in a research note on Friday, December 6th. Royal Bank of Canada lifted their price objective on shares of Veeva Systems from $275.00 to $285.00 and gave the company an "outperform" rating in a research note on Friday, December 6th. Truist Financial restated a "hold" rating and set a $261.00 target price (up previously from $207.00) on shares of Veeva Systems in a research report on Friday, December 6th. Finally, Guggenheim lifted their price target on Veeva Systems from $233.00 to $249.00 and gave the company a "buy" rating in a research report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Veeva Systems has a consensus rating of "Moderate Buy" and an average price target of $255.35.

Insider Activity at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of Veeva Systems stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total transaction of $390,128.20. Following the transaction, the senior vice president now directly owns 8,061 shares of the company's stock, valued at $1,856,448.30. The trade was a 17.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas D. Schwenger sold 1,126 shares of the company'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 transaction, the insider now owns 27,013 shares in the company, valued at $6,483,390.13. This trade represents a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.50% of the stock is owned by insiders.

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.