Jensen Investment Management Inc. Raises Position in Veeva Systems Inc. (NYSE:VEEV)

Jensen Investment Management Inc. lifted its stake in Veeva Systems Inc. (NYSE:VEEV) by 9.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,251 shares of the technology company’s stock after buying an additional 2,021 shares during the period. Jensen Investment Management Inc.’s holdings in Veeva Systems were worth $4,880,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of VEEV. Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of Veeva Systems in the third quarter worth about $26,000. Advisors Asset Management Inc. acquired a new position in shares of Veeva Systems in the first quarter worth about $28,000. Blue Trust Inc. lifted its stake in shares of Veeva Systems by 3,460.0% in the second quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock worth $33,000 after acquiring an additional 173 shares in the last quarter. DT Investment Partners LLC acquired a new position in shares of Veeva Systems in the second quarter worth about $35,000. Finally, Mather Group LLC. lifted its stake in shares of Veeva Systems by 166.3% in the second quarter. Mather Group LLC. now owns 253 shares of the technology company’s stock worth $46,000 after acquiring an additional 158 shares in the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Trading Up 5.2 %

VEEV traded up $11.61 during trading hours on Friday, hitting $235.00. The company’s stock had a trading volume of 2,472,493 shares, compared to its average volume of 752,313. Veeva Systems Inc. has a fifty-two week low of $162.72 and a fifty-two week high of $240.68. The firm has a market capitalization of $38.05 billion, a PE ratio of 62.67, a PEG ratio of 2.29 and a beta of 0.81. The company has a 50-day simple moving average of $213.98 and a 200 day simple moving average of $199.75.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings results 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. Veeva Systems had a return on equity of 13.30% and a net margin of 23.91%. The company had revenue of $676.18 million for the quarter, compared to analysts’ expectations of $667.21 million. Research analysts expect that Veeva Systems Inc. will post 4.21 earnings per share for the current fiscal year.

Analyst Ratings Changes

VEEV has been the topic of several recent analyst reports. Royal Bank of Canada boosted their price target on Veeva Systems from $250.00 to $275.00 and gave the stock an “outperform” rating in a research note on Friday. Truist Financial increased their target price on Veeva Systems from $197.00 to $207.00 and gave the stock a “hold” rating in a report on Tuesday, September 3rd. Barclays increased their target price on Veeva Systems from $240.00 to $260.00 and gave the stock an “overweight” rating in a report on Friday. Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 target price on shares of Veeva Systems in a report on Friday. Finally, Raymond James increased their target price on Veeva Systems from $230.00 to $235.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $237.00.

Insider Activity

In other news, SVP Jonathan Faddis sold 2,353 shares of Veeva Systems 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 transaction, the senior vice president now directly owns 9,035 shares in the company, valued at approximately $1,807,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 10.50% of the stock is owned by insiders.

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.