Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P reduced its position in Veeva Systems Inc. (NYSE:VEEV) by 10.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 271,124 shares of the technology company’s stock after selling 31,013 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Veeva Systems were worth $56,901,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of VEEV. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of Veeva Systems during the third quarter worth $26,000. Advisors Asset Management Inc. purchased a new position in Veeva Systems during the 1st quarter worth $28,000. Blue Trust Inc. raised its position in Veeva Systems by 3,460.0% during the 2nd quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock worth $33,000 after buying an additional 173 shares during the last quarter. DT Investment Partners LLC acquired a new stake in shares of Veeva Systems in the 2nd quarter worth $35,000. Finally, Mather Group LLC. boosted its holdings 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 valued at $46,000 after acquiring an additional 158 shares in the last quarter. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

VEEV has been the subject of several analyst reports. Piper Sandler increased their price target on shares of Veeva Systems from $230.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Truist Financial increased their target price on Veeva Systems from $197.00 to $207.00 and gave the stock a “hold” rating in a research note on Tuesday, September 3rd. Bank of America raised their price target on Veeva Systems from $204.00 to $240.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. BNP Paribas began coverage on Veeva Systems in a report on Tuesday, October 8th. They set an “outperform” rating and a $286.00 price objective on the stock. Finally, Guggenheim increased their price objective on Veeva Systems from $233.00 to $249.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $236.92.

Veeva Systems Stock Performance

Shares of NYSE:VEEV opened at $216.58 on Monday. The business’s fifty day moving average price is $214.54 and its two-hundred day moving average price is $201.16. The stock has a market cap of $35.07 billion, a PE ratio of 57.75, a price-to-earnings-growth ratio of 2.09 and a beta of 0.81. Veeva Systems Inc. has a one year low of $165.12 and a one year high of $240.68.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data 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. The business had revenue of $676.18 million for the quarter, compared to the consensus estimate 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 predict that Veeva Systems Inc. will post 4.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Thomas D. Schwenger sold 1,126 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 27,013 shares of the company’s stock, valued at $6,483,390.13. The trade was a 4.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 10.50% of the stock is owned by corporate 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.