Baillie Gifford & Co. Sells 34,805 Shares of Veeva Systems Inc. (NYSE:VEEV)

Baillie Gifford & Co. reduced its position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 69.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,349 shares of the technology company's stock after selling 34,805 shares during the quarter. Baillie Gifford & Co.'s holdings in Veeva Systems were worth $3,221,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of VEEV. GSA Capital Partners LLP purchased a new position in Veeva Systems during the 3rd quarter worth approximately $526,000. Entropy Technologies LP increased its holdings in shares of Veeva Systems by 40.5% in the 3rd quarter. Entropy Technologies LP now owns 19,044 shares of the technology company's stock valued at $3,997,000 after purchasing an additional 5,492 shares during the period. Jensen Investment Management Inc. lifted its position in shares of Veeva Systems by 9.5% in the third quarter. Jensen Investment Management Inc. now owns 23,251 shares of the technology company's stock worth $4,880,000 after purchasing an additional 2,021 shares in the last quarter. Montanaro Asset Management Ltd boosted its holdings in shares of Veeva Systems by 5.1% during the third quarter. Montanaro Asset Management Ltd now owns 80,250 shares of the technology company's stock worth $16,842,000 after purchasing an additional 3,900 shares during the period. Finally, Covestor Ltd grew its position in Veeva Systems by 20.1% during the third quarter. Covestor Ltd now owns 841 shares of the technology company's stock valued at $176,000 after purchasing an additional 141 shares in the last quarter. Institutional investors own 88.20% of the company's stock.

Veeva Systems Stock Performance

VEEV stock traded down $0.18 during midday trading on Thursday, hitting $233.01. 455,952 shares of the company's stock were exchanged, compared to its average volume of 940,958. Veeva Systems Inc. has a one year low of $165.12 and a one year high of $240.68. The company has a market cap of $37.73 billion, a PE ratio of 62.06, a price-to-earnings-growth ratio of 2.28 and a beta of 0.81. The stock's fifty day moving average price is $215.14 and its 200-day moving average price is $200.49.

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

Insider Transactions at Veeva Systems

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 stock was sold at an average price of $200.00, for a total transaction of $470,600.00. Following the completion of the sale, the senior vice president now owns 9,035 shares of the company's stock, valued at $1,807,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Thomas D. Schwenger sold 1,126 shares of the business's stock in a transaction that occurred 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 approximately $6,483,390.13. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Jonathan Faddis sold 2,353 shares of the firm's stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $200.00, for a total value of $470,600.00. Following the transaction, the senior vice president now owns 9,035 shares in the company, valued at approximately $1,807,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 10.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Robert W. Baird lowered their target price on Veeva Systems from $251.00 to $245.00 and set an "outperform" rating on the stock in a research note on Monday, October 28th. TD Cowen raised their price objective on shares of Veeva Systems from $180.00 to $192.00 and gave the company a "hold" rating in a research report on Thursday, August 29th. BNP Paribas started coverage on shares of Veeva Systems in a research report on Tuesday, October 8th. They issued an "outperform" rating and a $286.00 target price for the company. Piper Sandler increased their target price on shares of Veeva Systems from $230.00 to $280.00 and gave the stock an "overweight" rating in a research report on Friday, November 8th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $260.00 price target on shares of Veeva Systems in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $237.00.

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.