4,537 Shares in Veeva Systems Inc. (NYSE:VEEV) Purchased by Simmons Bank

Simmons Bank acquired a new position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 4,537 shares of the technology company's stock, valued at approximately $952,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Veeva Systems by 7.5% in the first quarter. Vanguard Group Inc. now owns 14,150,070 shares of the technology company's stock valued at $3,278,430,000 after purchasing an additional 991,208 shares during the last quarter. Principal Financial Group Inc. grew its holdings in 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 valued at $457,366,000 after buying an additional 1,267,061 shares during the last quarter. Van ECK Associates Corp grew its holdings in Veeva Systems by 3.7% during the 3rd quarter. Van ECK Associates Corp now owns 1,995,006 shares of the technology company's stock valued at $434,372,000 after buying an additional 71,525 shares during the last quarter. Swedbank AB increased its position in Veeva Systems by 4.9% during the second quarter. Swedbank AB now owns 1,031,064 shares of the technology company's stock worth $188,695,000 after buying an additional 48,402 shares in the last quarter. Finally, Acadian Asset Management LLC raised its holdings in shares of Veeva Systems by 83.8% in the first quarter. Acadian Asset Management LLC now owns 618,344 shares of the technology company's stock worth $143,235,000 after acquiring an additional 281,993 shares during the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on the company. JPMorgan Chase & Co. lifted their price objective on Veeva Systems from $203.00 to $208.00 and gave the stock a "neutral" rating in a research report on Monday, September 9th. Bank of America lifted their price target on shares of Veeva Systems from $204.00 to $240.00 and gave the stock a "neutral" rating in a report on Thursday, August 29th. BNP Paribas initiated coverage on shares of Veeva Systems in a research note on Tuesday, October 8th. They set an "outperform" rating and a $286.00 price objective on the stock. Raymond James raised their target price on shares of Veeva Systems from $230.00 to $235.00 and gave the stock an "outperform" rating in a research report on Thursday, August 29th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $260.00 price target on shares of Veeva Systems in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $237.00.

Veeva Systems Price Performance

VEEV stock traded down $3.48 during midday trading on Thursday, reaching $229.71. 1,017,207 shares of the company's stock traded hands, compared to its average volume of 943,497. The company has a market capitalization of $37.20 billion, a P/E ratio of 62.06, a PEG ratio of 2.28 and a beta of 0.81. The business has a 50-day moving average price of $215.14 and a two-hundred day moving average price of $200.49. Veeva Systems Inc. has a fifty-two week low of $165.12 and a fifty-two week high of $240.68.

Veeva Systems (NYSE:VEEV - Get Free Report) last released its quarterly earnings results on Wednesday, August 28th. The technology company reported $1.07 EPS for the quarter, topping the consensus estimate of $1.04 by $0.03. The firm had revenue of $676.18 million for the quarter, compared to analyst estimates of $667.21 million. Veeva Systems had a return on equity of 13.30% and a net margin of 23.91%. As a group, research analysts forecast that Veeva Systems Inc. will post 4.21 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Veeva Systems news, SVP Jonathan Faddis sold 2,353 shares of the 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 sale, the senior vice president now directly owns 9,035 shares of the company's stock, valued at approximately $1,807,000. This represents a 20.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas D. Schwenger sold 1,126 shares of the firm's stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $240.01, for a total transaction of $270,251.26. Following the completion of the transaction, the insider now directly owns 27,013 shares in the company, valued at $6,483,390.13. This represents a 4.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 10.50% of the company's stock.

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.