Ninety One UK Ltd Has $28.42 Million Holdings in Veeva Systems Inc. $VEEV

Ninety One UK Ltd trimmed its holdings in Veeva Systems Inc. (NYSE:VEEV) by 10.3% in the second quarter, Holdings Channel reports. The fund owned 98,701 shares of the technology company’s stock after selling 11,391 shares during the period. Ninety One UK Ltd’s holdings in Veeva Systems were worth $28,424,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Abound Financial LLC acquired a new position in Veeva Systems in the first quarter valued at about $25,000. ORG Partners LLC acquired a new position in Veeva Systems in the first quarter valued at about $26,000. Maseco LLP acquired a new position in Veeva Systems in the second quarter valued at about $35,000. Golden State Wealth Management LLC grew its stake in Veeva Systems by 152.9% in the first quarter. Golden State Wealth Management LLC now owns 129 shares of the technology company’s stock valued at $30,000 after acquiring an additional 78 shares during the period. Finally, Wayfinding Financial LLC acquired a new position in Veeva Systems in the first quarter valued at about $32,000. 88.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on VEEV shares. Morgan Stanley boosted their target price on Veeva Systems from $210.00 to $222.00 and gave the company an “underweight” rating in a research note on Thursday, August 28th. Piper Sandler upped their price objective on Veeva Systems from $325.00 to $355.00 and gave the stock an “overweight” rating in a research report on Thursday, August 28th. Mizuho upped their price objective on Veeva Systems from $295.00 to $325.00 and gave the stock an “outperform” rating in a research report on Friday, August 29th. Evercore ISI upped their price objective on Veeva Systems from $285.00 to $295.00 and gave the stock an “in-line” rating in a research report on Thursday, August 28th. Finally, JPMorgan Chase & Co. raised Veeva Systems from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $290.00 to $330.00 in a research report on Monday, September 8th. Sixteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $303.67.

Insider Activity at Veeva Systems

In other news, SVP Jonathan Faddis sold 720 shares of the stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $285.62, for a total transaction of $205,646.40. Following the transaction, the senior vice president owned 7,902 shares in the company, valued at approximately $2,256,969.24. This trade represents a 8.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Priscilla Hung sold 171 shares of the stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $284.40, for a total value of $48,632.40. Following the transaction, the director owned 3,966 shares in the company, valued at approximately $1,127,930.40. This trade represents a 4.13% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,063 shares of company stock worth $302,955 in the last 90 days. Corporate insiders own 10.30% of the company’s stock.

Veeva Systems Stock Performance

VEEV opened at $298.00 on Wednesday. Veeva Systems Inc. has a 52-week low of $200.30 and a 52-week high of $299.95. The firm has a market capitalization of $48.85 billion, a PE ratio of 61.19, a PEG ratio of 2.26 and a beta of 0.95. The business’s 50-day simple moving average is $281.23 and its 200 day simple moving average is $261.68.

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.