Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P lessened its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 10.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 271,124 shares of the technology company’s stock after selling 31,013 shares during the period. Loomis Sayles & Co. L P owned 0.17% of Veeva Systems worth $56,901,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA increased its stake in shares of Veeva Systems by 64.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company’s stock worth $744,084,000 after acquiring an additional 1,392,256 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Veeva Systems by 138.9% in 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 period. Swedbank AB acquired a new stake in Veeva Systems during the first quarter worth about $227,673,000. Jupiter Asset Management Ltd. raised its stake in Veeva Systems by 84.0% during the second quarter. Jupiter Asset Management Ltd. now owns 453,933 shares of the technology company’s stock worth $83,074,000 after purchasing an additional 207,222 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ raised its stake in Veeva Systems by 545.5% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 195,486 shares of the technology company’s stock worth $35,776,000 after purchasing an additional 165,203 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Price Performance

Shares of NYSE VEEV opened at $216.58 on Monday. The stock’s 50-day moving average is $214.54 and its two-hundred day moving average is $201.16. The company has a market cap of $35.07 billion, a price-to-earnings ratio of 57.75, a price-to-earnings-growth ratio of 2.09 and a beta of 0.81. Veeva Systems Inc. has a 1-year low of $165.12 and a 1-year high of $240.68.

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

Insider Transactions at Veeva Systems

In related news, insider Thomas D. Schwenger sold 1,126 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $240.01, for a total value of $270,251.26. Following the transaction, the insider now directly owns 27,013 shares of the company’s stock, valued at $6,483,390.13. This trade represents a 4.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 10.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Piper Sandler increased their price target on shares of Veeva Systems from $230.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Citigroup increased their price objective on Veeva Systems from $256.00 to $273.00 and gave the stock a “buy” rating in a research report on Tuesday, August 27th. Robert W. Baird reduced their target price on Veeva Systems from $251.00 to $245.00 and set an “outperform” rating on the stock in a research report on Monday, October 28th. UBS Group upped their price target on Veeva Systems from $185.00 to $215.00 and gave the company a “neutral” rating in a research note on Monday, August 26th. Finally, Scotiabank started coverage on Veeva Systems in a research report on Monday, November 18th. They set a “sector perform” rating and a $235.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $236.92.

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.