Entropy Technologies LP Raises Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Entropy Technologies LP increased its position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 40.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,044 shares of the technology company's stock after acquiring an additional 5,492 shares during the period. Entropy Technologies LP's holdings in Veeva Systems were worth $3,997,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Jensen Investment Management Inc. raised its stake in shares of Veeva Systems by 9.5% during the third quarter. Jensen Investment Management Inc. now owns 23,251 shares of the technology company's stock valued at $4,880,000 after acquiring an additional 2,021 shares during the last quarter. Montanaro Asset Management Ltd increased its stake in Veeva Systems by 5.1% in the third quarter. Montanaro Asset Management Ltd now owns 80,250 shares of the technology company's stock valued at $16,842,000 after purchasing an additional 3,900 shares in the last quarter. Covestor Ltd increased its stake in Veeva Systems by 20.1% in 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. Mesirow Financial Investment Management Inc. acquired a new position in shares of Veeva Systems during the third quarter valued at about $377,000. Finally, RKL Wealth Management LLC acquired a new position in shares of Veeva Systems during the third quarter valued at about $219,000. Institutional investors and hedge funds own 88.20% of the company's stock.

Veeva Systems Stock Performance

Shares of NYSE VEEV traded down $0.38 during trading on Tuesday, hitting $236.49. 759,014 shares of the company were exchanged, compared to its average volume of 944,500. Veeva Systems Inc. has a 12-month low of $162.85 and a 12-month high of $240.68. The company has a fifty day moving average price of $214.39 and a 200-day moving average price of $200.01. The firm has a market capitalization of $38.30 billion, a PE ratio of 63.20, a P/E/G ratio of 2.29 and a beta of 0.81.

Veeva Systems (NYSE:VEEV - Get Free Report) last issued its quarterly earnings data on Wednesday, August 28th. The technology company reported $1.07 earnings per share (EPS) for the quarter, beating 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 net margin of 23.91% and a return on equity of 13.30%. Research analysts anticipate that Veeva Systems Inc. will post 4.21 earnings per share for the current fiscal year.

Insider Activity at Veeva Systems

In related news, insider Thomas D. Schwenger sold 1,126 shares of the business's stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $240.01, for a total value of $270,251.26. Following 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Veeva Systems news, insider Thomas D. Schwenger sold 1,126 shares of Veeva Systems stock in a transaction dated 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 transaction, the insider now directly owns 27,013 shares of the company's stock, valued at $6,483,390.13. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction, the senior vice president now directly owns 9,035 shares of the company's stock, valued at approximately $1,807,000. This represents a 0.00 % 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.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Piper Sandler boosted their price target on shares of Veeva Systems from $230.00 to $280.00 and gave the stock an "overweight" rating in a report on Friday. BNP Paribas assumed coverage on shares of Veeva Systems in a research note on Tuesday, October 8th. They issued an "outperform" rating and a $286.00 target price on the stock. Bank of America increased their target price on shares of Veeva Systems from $204.00 to $240.00 and gave the stock a "neutral" rating in a research note on Thursday, August 29th. Barclays increased their target price on shares of Veeva Systems from $240.00 to $260.00 and gave the stock an "overweight" rating in a research note on Friday. Finally, TD Cowen increased their target price on shares of Veeva Systems from $180.00 to $192.00 and gave the stock a "hold" rating in a research note on Thursday, August 29th. One research 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. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $237.00.

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.