Vontobel Holding Ltd. Grows Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Vontobel Holding Ltd. lifted its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 1.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 28,760 shares of the technology company’s stock after buying an additional 341 shares during the quarter. Vontobel Holding Ltd.’s holdings in Veeva Systems were worth $5,537,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. OFI Invest Asset Management purchased a new position in Veeva Systems in the third quarter worth $25,000. Operose Advisors LLC purchased a new position in Veeva Systems in the third quarter worth $29,000. Parkside Financial Bank & Trust raised its position in Veeva Systems by 81.9% in the third quarter. Parkside Financial Bank & Trust now owns 171 shares of the technology company’s stock worth $35,000 after acquiring an additional 77 shares in the last quarter. Atticus Wealth Management LLC raised its position in Veeva Systems by 500.0% in the third quarter. Atticus Wealth Management LLC now owns 180 shares of the technology company’s stock worth $37,000 after acquiring an additional 150 shares in the last quarter. Finally, Resurgent Financial Advisors LLC purchased a new position in Veeva Systems in the fourth quarter worth $33,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Insider Transactions at Veeva Systems

In other news, COO Thomas D. Schwenger sold 1,238 shares of the business’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $210.02, for a total transaction of $260,004.76. Following the completion of the sale, the chief operating officer now owns 24,342 shares in the company, valued at approximately $5,112,306.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, COO Thomas D. Schwenger sold 1,238 shares of the business’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $210.02, for a total transaction of $260,004.76. Following the completion of the sale, the chief operating officer now owns 24,342 shares in the company, valued at approximately $5,112,306.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Timothy S. Cabral sold 15,000 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $226.04, for a total value of $3,390,600.00. Following the sale, the director now owns 23,391 shares of the company’s stock, valued at approximately $5,287,301.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,836 shares of company stock worth $4,396,902. 10.98% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on VEEV shares. JPMorgan Chase & Co. increased their price objective on Veeva Systems from $183.00 to $222.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 13th. Stifel Nicolaus raised their price target on Veeva Systems from $205.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Jefferies Financial Group raised their price target on Veeva Systems from $225.00 to $270.00 and gave the company a “buy” rating in a research report on Monday, March 4th. Truist Financial raised their price target on Veeva Systems from $187.00 to $203.00 and gave the company a “hold” rating in a research report on Friday, March 1st. Finally, Raymond James restated an “outperform” rating and issued a $260.00 price target on shares of Veeva Systems in a research report on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $234.90.

Veeva Systems Price Performance

VEEV opened at $199.18 on Thursday. The stock has a market capitalization of $32.13 billion, a price-to-earnings ratio of 61.86, a price-to-earnings-growth ratio of 2.02 and a beta of 0.74. The business has a 50-day moving average of $221.86 and a two-hundred day moving average of $202.84. Veeva Systems Inc. has a 12 month low of $160.21 and a 12 month high of $236.90.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings results on Thursday, February 29th. The technology company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.81 by $0.11. The company had revenue of $630.62 million during the quarter, compared to analysts’ expectations of $620.75 million. Veeva Systems had a return on equity of 11.26% and a net margin of 22.24%. Equities research analysts anticipate that Veeva Systems Inc. will post 4.11 earnings per share for the current year.

Veeva Systems 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.