Veeva Systems Inc. (NYSE:VEEV) Holdings Trimmed by Bridgewater Associates LP

Bridgewater Associates LP reduced its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 74.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 100,449 shares of the technology company’s stock after selling 287,740 shares during the period. Bridgewater Associates LP’s holdings in Veeva Systems were worth $21,081,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of VEEV. Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of Veeva Systems in the third quarter valued at $26,000. Advisors Asset Management Inc. acquired a new stake in shares of Veeva Systems during the first quarter worth $28,000. Blue Trust Inc. lifted its holdings in shares of 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 last quarter. DT Investment Partners LLC acquired a new position in shares of Veeva Systems in the 2nd quarter valued at $35,000. Finally, Mather Group LLC. boosted its position in shares of Veeva Systems by 166.3% in the 2nd quarter. Mather Group LLC. now owns 253 shares of the technology company’s stock valued at $46,000 after purchasing an additional 158 shares during the period. 88.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have commented on the stock. BNP Paribas started 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 for the company. JPMorgan Chase & Co. upped their price target on shares of Veeva Systems from $203.00 to $208.00 and gave the company a “neutral” rating in a research report on Monday, September 9th. Citigroup raised their price objective on shares of Veeva Systems from $256.00 to $273.00 and gave the stock a “buy” rating in a research note on Tuesday, August 27th. Barclays boosted their target price on shares of Veeva Systems from $240.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Finally, Raymond James raised their target price on Veeva Systems from $230.00 to $235.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $236.92.

Veeva Systems Trading Down 0.1 %

Veeva Systems stock opened at $226.76 on Thursday. Veeva Systems Inc. has a 1-year low of $165.12 and a 1-year high of $240.68. The firm’s fifty day simple moving average is $215.20 and its 200-day simple moving average is $201.66. The company has a market capitalization of $36.72 billion, a P/E ratio of 60.47, a P/E/G ratio of 2.19 and a beta of 0.81.

Veeva Systems (NYSE:VEEV) last posted its earnings results on Wednesday, August 28th. The technology company reported $1.07 earnings per share 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 analyst estimates of $667.21 million. On average, equities research analysts predict that Veeva Systems Inc. will post 4.21 earnings per share for the current year.

Insider Activity at Veeva Systems

In other news, insider Thomas D. Schwenger sold 1,126 shares of the business’s stock in a transaction on Friday, November 8th. The shares were 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 4.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.50% of the stock is owned by company insiders.

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.