Banque Cantonale Vaudoise raised its position in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 70.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,041 shares of the technology company's stock after buying an additional 3,725 shares during the period. Banque Cantonale Vaudoise's holdings in Veeva Systems were worth $1,897,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Advisors Asset Management Inc. bought a new position in shares of Veeva Systems during the 1st quarter valued at approximately $28,000. Mowery & Schoenfeld Wealth Management LLC purchased a new position in Veeva Systems in the third quarter valued at approximately $26,000. Blue Trust Inc. grew its holdings in Veeva Systems by 3,460.0% during the second quarter. Blue Trust Inc. now owns 178 shares of the technology company's stock valued at $33,000 after purchasing an additional 173 shares during the period. DT Investment Partners LLC purchased a new stake in Veeva Systems in the second quarter worth $35,000. Finally, Fairscale Capital LLC purchased a new stake in Veeva Systems in the second quarter worth $46,000. Hedge funds and other institutional investors own 88.20% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on the company. Robert W. Baird decreased their price objective on Veeva Systems from $251.00 to $245.00 and set an "outperform" rating for the company in a report on Monday, October 28th. Truist Financial boosted their price target on shares of Veeva Systems from $197.00 to $207.00 and gave the company a "hold" rating in a research report on Tuesday, September 3rd. StockNews.com raised shares of Veeva Systems from a "hold" rating to a "buy" rating in a report on Saturday, November 9th. Piper Sandler boosted their price objective on shares of Veeva Systems from $230.00 to $280.00 and gave the company an "overweight" rating in a research note on Friday, November 8th. Finally, Guggenheim raised their price target on shares of Veeva Systems from $233.00 to $249.00 and gave the company a "buy" rating in a report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $236.92.
Check Out Our Latest Report on Veeva Systems
Insider Buying and Selling at Veeva Systems
In other news, insider Thomas D. Schwenger sold 1,126 shares of Veeva Systems 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 sale, the insider now directly owns 27,013 shares in the company, valued at approximately $6,483,390.13. This trade represents a 4.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 10.50% of the company's stock.
Veeva Systems Stock Performance
VEEV traded up $3.91 on Thursday, hitting $214.54. 907,805 shares of the company were exchanged, compared to its average volume of 952,949. The firm has a fifty day simple moving average of $214.68 and a two-hundred day simple moving average of $201.00. The stock has a market capitalization of $34.74 billion, a PE ratio of 56.17, a price-to-earnings-growth ratio of 2.03 and a beta of 0.81. Veeva Systems Inc. has a 12 month low of $165.12 and a 12 month high of $240.68.
Veeva Systems (NYSE:VEEV - Get Free Report) last issued its earnings results on Wednesday, August 28th. The technology company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.03. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. The firm had revenue of $676.18 million for the quarter, compared to analysts' expectations of $667.21 million. On average, equities analysts expect that Veeva Systems Inc. will post 4.21 earnings per share for the current year.
Veeva Systems Company Profile
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Free Report)
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.
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