Veeva Systems Inc. (NYSE:VEEV) Holdings Cut by Ownership Capital B.V.

Ownership Capital B.V. cut its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 17.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 760,106 shares of the technology company’s stock after selling 162,600 shares during the quarter. Veeva Systems makes up 5.1% of Ownership Capital B.V.’s investment portfolio, making the stock its 8th largest position. Ownership Capital B.V. owned about 0.47% of Veeva Systems worth $159,523,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Covestor Ltd grew its position in shares of 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 during the period. Mesirow Financial Investment Management Inc. acquired a new stake in Veeva Systems in the 3rd quarter worth about $377,000. RKL Wealth Management LLC purchased a new stake in Veeva Systems in the 3rd quarter valued at about $219,000. Atria Investments Inc increased its stake in shares of Veeva Systems by 13.7% during the 3rd quarter. Atria Investments Inc now owns 14,999 shares of the technology company’s stock valued at $3,148,000 after acquiring an additional 1,811 shares during the last quarter. Finally, Bridges Investment Management Inc. acquired a new position in shares of Veeva Systems during the 3rd quarter valued at about $269,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

Insider Transactions at Veeva Systems

In other news, SVP Jonathan Faddis sold 2,353 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $200.00, for a total transaction of $470,600.00. Following the transaction, the senior vice president now owns 9,035 shares of the company’s stock, valued at approximately $1,807,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 10.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on VEEV shares. Needham & Company LLC restated a “buy” rating and issued a $260.00 target price on shares of Veeva Systems in a report on Friday. Robert W. Baird lowered their price objective on shares of Veeva Systems from $251.00 to $245.00 and set an “outperform” rating for the company in a research note on Monday, October 28th. JPMorgan Chase & Co. increased their target price on Veeva Systems from $203.00 to $208.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. Truist Financial boosted their price target on Veeva Systems from $197.00 to $207.00 and gave the company a “hold” rating in a research report on Tuesday, September 3rd. Finally, Bank of America upped their price target on Veeva Systems from $204.00 to $240.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $237.00.

Veeva Systems Stock Performance

Shares of VEEV opened at $235.00 on Friday. Veeva Systems Inc. has a one year low of $162.72 and a one year high of $240.68. The stock has a 50-day moving average price of $213.98 and a 200 day moving average price of $199.75. The company has a market capitalization of $38.05 billion, a P/E ratio of 62.67, a P/E/G ratio of 2.29 and a beta of 0.81.

Veeva Systems (NYSE:VEEV) last released its earnings results on Wednesday, August 28th. The technology company reported $1.07 EPS for the quarter, beating the consensus estimate of $1.04 by $0.03. The company had revenue of $676.18 million during the quarter, compared to analysts’ expectations of $667.21 million. Veeva Systems had a return on equity of 13.30% and a net margin of 23.91%. As a group, equities research analysts forecast that Veeva Systems Inc. will post 4.21 earnings per share for the current fiscal year.

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.