Dynamic Technology Lab Private Ltd Lowers Holdings in Veeva Systems Inc. (NYSE:VEEV)

Dynamic Technology Lab Private Ltd reduced its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 80.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,035 shares of the technology company’s stock after selling 25,544 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Veeva Systems were worth $1,267,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in shares of Veeva Systems during the third quarter worth $26,000. Advisors Asset Management Inc. purchased a new stake in Veeva Systems during the 1st quarter worth about $28,000. Blue Trust Inc. raised its position in Veeva Systems by 3,460.0% in the 2nd quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock valued at $33,000 after purchasing an additional 173 shares in the last quarter. DT Investment Partners LLC purchased a new position in shares of Veeva Systems in the 2nd quarter valued at about $35,000. Finally, Mather Group LLC. grew its position in shares of Veeva Systems by 166.3% during the second quarter. Mather Group LLC. now owns 253 shares of the technology company’s stock worth $46,000 after buying an additional 158 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Veeva Systems Stock Down 0.0 %

VEEV opened at $226.88 on Wednesday. The business has a 50 day moving average price of $214.98 and a two-hundred day moving average price of $201.48. Veeva Systems Inc. has a 52 week low of $165.12 and a 52 week high of $240.68. The company has a market cap of $36.74 billion, a PE ratio of 60.50, a P/E/G ratio of 2.09 and a beta of 0.81.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings results on Wednesday, August 28th. The technology company reported $1.07 EPS for the quarter, topping 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 business had revenue of $676.18 million during the quarter, compared to analysts’ expectations of $667.21 million. As a group, sell-side analysts expect that Veeva Systems Inc. will post 4.21 EPS for the current fiscal year.

Insiders Place Their Bets

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,126 shares of Veeva Systems stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $240.01, for a total value of $270,251.26. Following the sale, the insider now owns 27,013 shares of the company’s stock, valued at approximately $6,483,390.13. The trade was a 4.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on VEEV. Truist Financial raised their target price on shares of Veeva Systems from $197.00 to $207.00 and gave the company a “hold” rating in a report on Tuesday, September 3rd. Guggenheim lifted their price objective on shares of Veeva Systems from $233.00 to $249.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. StockNews.com raised Veeva Systems from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. Scotiabank started coverage on Veeva Systems in a research report on Monday, November 18th. They set a “sector perform” rating and a $235.00 price objective for the company. Finally, Citigroup raised their target price on Veeva Systems from $256.00 to $273.00 and gave the stock a “buy” rating in a research report on Tuesday, August 27th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, Veeva Systems has an average rating of “Moderate Buy” and a consensus price target of $236.92.

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.