Prudential PLC Has $4.20 Million Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Prudential PLC grew its holdings in Veeva Systems Inc. (NYSE:VEEVGet Rating) by 0.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 21,213 shares of the technology company’s stock after buying an additional 103 shares during the quarter. Prudential PLC’s holdings in Veeva Systems were worth $4,201,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in VEEV. Harbor Investment Advisory LLC increased its position in Veeva Systems by 120.0% in the second quarter. Harbor Investment Advisory LLC now owns 132 shares of the technology company’s stock worth $26,000 after purchasing an additional 72 shares during the period. Fieldpoint Private Securities LLC acquired a new stake in Veeva Systems in the second quarter worth about $30,000. Lansing Street Advisors acquired a new stake in Veeva Systems in the first quarter worth about $39,000. IndexIQ Advisors LLC acquired a new stake in Veeva Systems in the first quarter worth about $43,000. Finally, Global Wealth Management Investment Advisory Inc. boosted its holdings in Veeva Systems by 63.9% during the first quarter. Global Wealth Management Investment Advisory Inc. now owns 218 shares of the technology company’s stock worth $46,000 after buying an additional 85 shares during the last quarter. 80.14% of the stock is currently owned by institutional investors and hedge funds.

Veeva Systems Stock Performance

NYSE VEEV opened at $188.06 on Thursday. The stock has a market capitalization of $29.20 billion, a price-to-earnings ratio of 77.39, a PEG ratio of 4.43 and a beta of 0.81. The stock’s 50 day moving average price is $169.17 and its two-hundred day moving average price is $185.97. Veeva Systems Inc. has a 52 week low of $151.02 and a 52 week high of $297.93.

Veeva Systems (NYSE:VEEVGet Rating) last released its earnings results on Wednesday, August 31st. The technology company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.11). The firm had revenue of $534.20 million during the quarter, compared to the consensus estimate of $530.70 million. Veeva Systems had a net margin of 19.67% and a return on equity of 13.40%. The company’s revenue was up 17.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.64 EPS. On average, equities research analysts forecast that Veeva Systems Inc. will post 2.53 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. KeyCorp assumed coverage on Veeva Systems in a report on Thursday, September 15th. They set an “overweight” rating and a $220.00 target price on the stock. Robert W. Baird reduced their target price on Veeva Systems from $250.00 to $233.00 in a report on Monday, October 31st. UBS Group reduced their target price on Veeva Systems from $220.00 to $185.00 and set a “neutral” rating on the stock in a report on Thursday, September 1st. Piper Sandler reduced their target price on Veeva Systems from $245.00 to $220.00 and set an “overweight” rating on the stock in a report on Thursday, October 20th. Finally, JPMorgan Chase & Co. upgraded Veeva Systems from an “underweight” rating to a “neutral” rating and reduced their target price for the stock from $225.00 to $170.00 in a report on Wednesday, October 19th. Ten research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $215.74.

Insiders Place Their Bets

In other Veeva Systems news, Director Matthew J. Wallach sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $169.49, for a total transaction of $1,694,900.00. Following the transaction, the director now owns 2,546 shares of the company’s stock, valued at approximately $431,521.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Veeva Systems news, Director Matthew J. Wallach sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $169.49, for a total transaction of $1,694,900.00. Following the transaction, the director now owns 2,546 shares of the company’s stock, valued at approximately $431,521.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul Edward Chamberlain sold 260 shares of the business’s stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $179.99, for a total value of $46,797.40. Following the transaction, the director now directly owns 16,443 shares in the company, valued at approximately $2,959,575.57. The disclosure for this sale can be found here. Insiders have sold 30,260 shares of company stock valued at $5,096,397 in the last 90 days. 13.23% of the stock is currently owned by insiders.

About Veeva Systems

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Veeva Systems Inc provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, the Middle East, Africa, and Latin America. The company offers Veeva Commercial Cloud, a suite of software, data, and analytics solutions, which include Veeva customer relationship management (CRM) and Veeva Medical CRM, Veeva CLM, Veeva CRM MyInsights, Veeva CLM, Veeva CRM Approved Email, Veeva CRM Engage, Veeva Align, Veeva CRM Events Management, Veeva Nitro, Veeva OpenData, Veeva Link, Veeva Network, Veeva Crossix, Veeva Data Cloud, and MyVeeva for Patients; and Veeva Vault, a cloud-based enterprise content and data management applications for managing commercial functions, including sales and marketing, and medical content and communications, as well as research and development functions, such as clinical, regulatory, quality, and safety.

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Institutional Ownership by Quarter for Veeva Systems (NYSE:VEEV)

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