Veeva Systems Inc. (NYSE:VEEV) Shares Purchased by Schroder Investment Management Group

Schroder Investment Management Group raised its stake in shares of Veeva Systems Inc. (NYSE:VEEVFree Report) by 46.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 200,161 shares of the technology company’s stock after buying an additional 63,134 shares during the quarter. Schroder Investment Management Group owned about 0.12% of Veeva Systems worth $40,723,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Norges Bank purchased a new position in Veeva Systems in the fourth quarter valued at about $259,703,000. Wellington Management Group LLP boosted its stake in Veeva Systems by 1,578.4% in the first quarter. Wellington Management Group LLP now owns 1,504,355 shares of the technology company’s stock valued at $319,616,000 after acquiring an additional 1,414,726 shares during the period. Capital World Investors acquired a new position in Veeva Systems in the second quarter valued at approximately $151,056,000. Invesco Ltd. boosted its stake in Veeva Systems by 239.7% in the third quarter. Invesco Ltd. now owns 956,355 shares of the technology company’s stock valued at $194,570,000 after acquiring an additional 674,785 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in Veeva Systems by 34.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,045,414 shares of the technology company’s stock worth $416,139,000 after buying an additional 522,257 shares in the last quarter. Institutional investors and hedge funds own 80.07% of the company’s stock.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, Director Timothy S. Cabral sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $181.44, for a total value of $907,200.00. Following the completion of the transaction, the director now directly owns 38,391 shares in the company, valued at approximately $6,965,663.04. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Veeva Systems news, Director Timothy S. Cabral sold 5,000 shares of the firm’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $181.44, for a total value of $907,200.00. Following the transaction, the director now directly owns 38,391 shares of the company’s stock, valued at $6,965,663.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Alan Mateo sold 6,280 shares of the firm’s stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $190.00, for a total transaction of $1,193,200.00. Following the transaction, the executive vice president now directly owns 21,983 shares in the company, valued at $4,176,770. The disclosure for this sale can be found here. In the last ninety days, insiders sold 40,819 shares of company stock worth $8,327,483. 10.98% of the stock is currently owned by company insiders.

Veeva Systems Price Performance

Veeva Systems stock opened at $230.14 on Friday. Veeva Systems Inc. has a fifty-two week low of $160.21 and a fifty-two week high of $230.65. The firm has a market capitalization of $37.06 billion, a PE ratio of 71.47, a P/E/G ratio of 2.67 and a beta of 0.74. The company’s 50-day moving average is $210.33 and its 200-day moving average is $199.47.

Veeva Systems (NYSE:VEEVGet Free Report) last issued its quarterly earnings data on Wednesday, December 6th. The technology company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.29 by $0.05. The business had revenue of $616.51 million during the quarter, compared to the consensus estimate of $615.98 million. Veeva Systems had a net margin of 22.24% and a return on equity of 11.59%. The firm’s revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.69 EPS. As a group, analysts expect that Veeva Systems Inc. will post 3.5 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on VEEV. Piper Sandler increased their price objective on Veeva Systems from $220.00 to $245.00 and gave the stock an “overweight” rating in a report on Friday, March 1st. Jefferies Financial Group increased their target price on Veeva Systems from $225.00 to $270.00 and gave the company a “buy” rating in a report on Monday. Robert W. Baird upped their price target on shares of Veeva Systems from $245.00 to $251.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st. Citigroup raised their price target on Veeva Systems from $240.00 to $264.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Finally, Royal Bank of Canada raised their price objective on shares of Veeva Systems from $225.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday, January 16th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $229.95.

Get Our Latest Stock Report on VEEV

Veeva Systems Company Profile

(Free Report)

Veeva Systems Inc provides cloud-based software for the life sciences industry. It offers Veeva Commercial Cloud, a suite of software and data 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.

See Also

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Institutional Ownership by Quarter for Veeva Systems (NYSE:VEEV)

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