Huntington National Bank Has $327,000 Stake in Veeva Systems Inc. (NYSE:VEEV)

Huntington National Bank grew its holdings in Veeva Systems Inc. (NYSE:VEEV) by 19.8% during the third quarter, Holdings Channel.com reports. The firm owned 1,559 shares of the technology company’s stock after acquiring an additional 258 shares during the period. Huntington National Bank’s holdings in Veeva Systems were worth $327,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in VEEV. Vanguard Group Inc. lifted its position in Veeva Systems by 7.5% during the 1st quarter. Vanguard Group Inc. now owns 14,150,070 shares of the technology company’s stock worth $3,278,430,000 after buying an additional 991,208 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Veeva Systems by 138.9% during the third quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock valued at $457,366,000 after purchasing an additional 1,267,061 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Veeva Systems by 3.7% in the third quarter. Van ECK Associates Corp now owns 1,995,006 shares of the technology company’s stock valued at $434,372,000 after purchasing an additional 71,525 shares in the last quarter. Swedbank AB increased its holdings in shares of Veeva Systems by 4.9% in the second quarter. Swedbank AB now owns 1,031,064 shares of the technology company’s stock valued at $188,695,000 after purchasing an additional 48,402 shares in the last quarter. Finally, Federated Hermes Inc. raised its position in Veeva Systems by 4.4% in the 2nd quarter. Federated Hermes Inc. now owns 592,187 shares of the technology company’s stock worth $108,376,000 after purchasing an additional 24,689 shares during the last quarter. Institutional investors own 88.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on VEEV shares. Guggenheim lifted their target price on Veeva Systems from $233.00 to $249.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. UBS Group boosted their price objective on Veeva Systems from $185.00 to $215.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. BNP Paribas assumed coverage on shares of Veeva Systems in a research report on Tuesday, October 8th. They set an “outperform” rating and a $286.00 target price on the stock. Bank of America lifted their price target on shares of Veeva Systems from $204.00 to $240.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Finally, Piper Sandler increased their price objective on shares of Veeva Systems from $230.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $237.00.

Insider Buying and Selling at Veeva Systems

In other news, SVP Jonathan Faddis sold 2,353 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $200.00, for a total value of $470,600.00. Following the completion of the transaction, the senior vice president now owns 9,035 shares in the company, valued at $1,807,000. This trade represents a 20.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas D. Schwenger sold 1,126 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $240.01, for a total value of $270,251.26. Following the sale, the insider now owns 27,013 shares in the company, valued at $6,483,390.13. The trade was a 4.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 10.50% of the company’s stock.

Veeva Systems Price Performance

VEEV opened at $213.36 on Friday. The company has a market capitalization of $34.55 billion, a price-to-earnings ratio of 56.90, a P/E/G ratio of 2.22 and a beta of 0.81. The business’s 50-day moving average price is $215.37 and its two-hundred day moving average price is $200.77. Veeva Systems Inc. has a 1 year low of $165.12 and a 1 year high of $240.68.

Veeva Systems (NYSE:VEEV) last released its earnings results on Wednesday, August 28th. The technology company reported $1.07 EPS for the quarter, beating the consensus estimate of $1.04 by $0.03. The firm had revenue of $676.18 million for the quarter, compared to analysts’ expectations of $667.21 million. Veeva Systems had a return on equity of 13.30% and a net margin of 23.91%. Sell-side analysts anticipate that Veeva Systems Inc. will post 4.21 earnings per share for the current fiscal 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.