Veeva Systems Inc. (NYSE:VEEV) Shares Acquired by NS Partners Ltd

NS Partners Ltd increased its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 2.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,078 shares of the technology company’s stock after purchasing an additional 1,435 shares during the quarter. NS Partners Ltd’s holdings in Veeva Systems were worth $14,707,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Avantax Advisory Services Inc. acquired a new stake in shares of Veeva Systems in the 1st quarter valued at $369,000. O Shaughnessy Asset Management LLC boosted its stake in Veeva Systems by 16.8% in the first quarter. O Shaughnessy Asset Management LLC now owns 7,091 shares of the technology company’s stock valued at $1,643,000 after acquiring an additional 1,020 shares in the last quarter. UniSuper Management Pty Ltd boosted its position in shares of Veeva Systems by 100.0% in the 1st quarter. UniSuper Management Pty Ltd now owns 2,200 shares of the technology company’s stock valued at $510,000 after purchasing an additional 1,100 shares during the period. CANADA LIFE ASSURANCE Co increased its position in Veeva Systems by 46.9% during the first quarter. CANADA LIFE ASSURANCE Co now owns 132,760 shares of the technology company’s stock worth $30,786,000 after buying an additional 42,396 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Veeva Systems in the first quarter valued at approximately $1,086,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Truist Financial increased their price target on shares of Veeva Systems from $197.00 to $207.00 and gave the stock a “hold” rating in a research note on Tuesday, September 3rd. Guggenheim raised their price target on Veeva Systems from $233.00 to $249.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Piper Sandler upped their price objective on Veeva Systems from $230.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Bank of America increased their price objective on Veeva Systems from $204.00 to $240.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Finally, TD Cowen boosted their target price on Veeva Systems from $180.00 to $192.00 and gave the company a “hold” rating in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $236.92.

Veeva Systems Price Performance

Shares of NYSE:VEEV opened at $209.80 on Wednesday. Veeva Systems Inc. has a 12 month low of $165.12 and a 12 month high of $240.68. The firm has a market capitalization of $33.97 billion, a price-to-earnings ratio of 55.95, a price-to-earnings-growth ratio of 2.06 and a beta of 0.81. The business’s 50 day simple moving average is $214.95 and its 200-day simple moving average is $200.93.

Veeva Systems (NYSE:VEEV) last posted 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. The company had revenue of $676.18 million for the quarter, compared to analyst estimates of $667.21 million. Veeva Systems had a return on equity of 13.30% and a net margin of 23.91%. On average, equities analysts anticipate that Veeva Systems Inc. will post 4.21 earnings per share for the current year.

Insider Buying and Selling at Veeva Systems

In other news, insider Thomas D. Schwenger sold 1,126 shares of the company’s stock in a transaction on 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 directly owns 27,013 shares in the company, valued at $6,483,390.13. This represents a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 10.50% of the stock is currently owned by insiders.

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.