Veeva Systems Inc. (NYSE:VEEV) Stock Holdings Increased by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 2.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 397,223 shares of the technology company’s stock after buying an additional 10,316 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Veeva Systems were worth $76,473,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. MetLife Investment Management LLC acquired a new stake in shares of Veeva Systems during the 1st quarter valued at $1,906,000. Dimensional Fund Advisors LP boosted its position in Veeva Systems by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 190,289 shares of the technology company’s stock valued at $40,430,000 after purchasing an additional 3,286 shares during the last quarter. Sequoia Financial Advisors LLC grew its stake in Veeva Systems by 11.5% in the first quarter. Sequoia Financial Advisors LLC now owns 1,018 shares of the technology company’s stock valued at $216,000 after purchasing an additional 105 shares in the last quarter. National Pension Service grew its stake in Veeva Systems by 3.0% in the first quarter. National Pension Service now owns 195,170 shares of the technology company’s stock valued at $41,466,000 after purchasing an additional 5,607 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in Veeva Systems by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 12,888,204 shares of the technology company’s stock worth $2,738,229,000 after purchasing an additional 132,560 shares during the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Jonathan Faddis sold 3,598 shares of Veeva Systems stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $207.42, for a total transaction of $746,297.16. Following the sale, the senior vice president now directly owns 10,668 shares of the company’s stock, valued at $2,212,756.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Veeva Systems news, Director Timothy S. Cabral sold 15,000 shares of Veeva Systems stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $226.04, for a total transaction of $3,390,600.00. Following the sale, the director now directly owns 23,391 shares of the company’s stock, valued at $5,287,301.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jonathan Faddis sold 3,598 shares of Veeva Systems stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $207.42, for a total value of $746,297.16. Following the sale, the senior vice president now directly owns 10,668 shares in the company, valued at $2,212,756.56. The disclosure for this sale can be found here. Insiders have sold a total of 19,836 shares of company stock valued at $4,396,902 over the last three months. 10.98% of the stock is owned by corporate insiders.

Veeva Systems Stock Performance

Shares of NYSE:VEEV opened at $199.18 on Thursday. Veeva Systems Inc. has a 52-week low of $160.21 and a 52-week high of $236.90. The company has a market cap of $32.13 billion, a P/E ratio of 61.86, a P/E/G ratio of 2.02 and a beta of 0.74. The stock’s 50-day moving average is $221.86 and its 200-day moving average is $202.84.

Veeva Systems (NYSE:VEEV) last released its earnings results on Thursday, February 29th. The technology company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.11. Veeva Systems had a return on equity of 11.26% and a net margin of 22.24%. The business had revenue of $630.62 million for the quarter, compared to the consensus estimate of $620.75 million. As a group, equities analysts predict that Veeva Systems Inc. will post 4.11 EPS for the current year.

Wall Street Analyst Weigh In

VEEV has been the subject of several research reports. The Goldman Sachs Group lifted their price target on Veeva Systems from $219.00 to $248.00 and gave the company a “buy” rating in a report on Friday, March 1st. Truist Financial increased their price target on shares of Veeva Systems from $187.00 to $203.00 and gave the stock a “hold” rating in a research note on Friday, March 1st. Raymond James reaffirmed an “outperform” rating and issued a $260.00 price objective on shares of Veeva Systems in a research note on Tuesday, March 26th. Barclays upped their price objective on shares of Veeva Systems from $240.00 to $245.00 and gave the stock an “overweight” rating in a report on Friday, March 1st. Finally, Stifel Nicolaus upped their price objective on shares of Veeva Systems from $205.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $234.90.

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.