Veeva Systems Inc. (NYSE:VEEV) Stock Position Lifted by Banque Cantonale Vaudoise

Banque Cantonale Vaudoise boosted its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 70.1% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,041 shares of the technology company’s stock after purchasing an additional 3,725 shares during the period. Banque Cantonale Vaudoise’s holdings in Veeva Systems were worth $1,897,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Patriot Financial Group Insurance Agency LLC grew its position in Veeva Systems by 0.7% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 6,924 shares of the technology company’s stock valued at $1,453,000 after purchasing an additional 48 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. grew its position in Veeva Systems by 1.2% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,307 shares of the technology company’s stock worth $904,000 after acquiring an additional 50 shares in the last quarter. Clearbridge Investments LLC grew its position in Veeva Systems by 0.4% in the second quarter. Clearbridge Investments LLC now owns 11,682 shares of the technology company’s stock worth $2,138,000 after acquiring an additional 52 shares in the last quarter. Western Pacific Wealth Management LP grew its position in Veeva Systems by 23.3% in the first quarter. Western Pacific Wealth Management LP now owns 307 shares of the technology company’s stock worth $71,000 after acquiring an additional 58 shares in the last quarter. Finally, Park Place Capital Corp grew its position in Veeva Systems by 11.5% in the third quarter. Park Place Capital Corp now owns 574 shares of the technology company’s stock worth $120,000 after acquiring an additional 59 shares in the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on VEEV shares. Raymond James boosted their target price on shares of Veeva Systems from $230.00 to $235.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Scotiabank started coverage on shares of Veeva Systems in a research report on Monday. They issued a “sector perform” rating and a $235.00 target price for the company. Truist Financial boosted their target price on shares of Veeva Systems from $197.00 to $207.00 and gave the stock a “hold” rating in a research report on Tuesday, September 3rd. Bank of America upped their price objective on shares of Veeva Systems from $204.00 to $240.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 price objective on shares of Veeva Systems in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, Veeva Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $236.92.

Veeva Systems Stock Performance

Shares of VEEV stock opened at $210.63 on Thursday. Veeva Systems Inc. has a 52-week low of $165.12 and a 52-week high of $240.68. The stock has a market cap of $34.11 billion, a price-to-earnings ratio of 56.17, a P/E/G ratio of 2.06 and a beta of 0.81. The firm has a fifty day moving average of $214.68 and a 200-day moving average of $201.00.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Wednesday, August 28th. The technology company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.03. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. The company had revenue of $676.18 million during the quarter, compared to analysts’ expectations of $667.21 million. On average, sell-side analysts predict that Veeva Systems Inc. will post 4.21 earnings per share for the current year.

Insider Activity

In related news, insider Thomas D. Schwenger sold 1,126 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $240.01, for a total transaction of $270,251.26. Following the completion of the sale, the insider now owns 27,013 shares in the company, valued at $6,483,390.13. This trade represents a 4.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 10.50% of the company’s stock.

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.