Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd reduced its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 80.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,035 shares of the technology company’s stock after selling 25,544 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Veeva Systems were worth $1,267,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA boosted its stake in shares of Veeva Systems by 64.7% during 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 in the last quarter. Principal Financial Group Inc. raised its holdings in Veeva Systems by 138.9% in the 3rd quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock worth $457,366,000 after purchasing an additional 1,267,061 shares during the period. Swedbank AB purchased a new position in Veeva Systems during the first quarter worth approximately $227,673,000. Jupiter Asset Management Ltd. grew its holdings in Veeva Systems by 84.0% in the second quarter. Jupiter Asset Management Ltd. now owns 453,933 shares of the technology company’s stock valued at $83,074,000 after purchasing an additional 207,222 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ grew its holdings in Veeva Systems by 545.5% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 195,486 shares of the technology company’s stock valued at $35,776,000 after purchasing an additional 165,203 shares during the period. 88.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Veeva Systems

In other Veeva Systems 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 transaction of $270,251.26. Following the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 10.50% of the stock is owned by insiders.

Veeva Systems Stock Performance

VEEV opened at $226.88 on Wednesday. The stock has a market capitalization of $36.74 billion, a PE ratio of 60.50, a P/E/G ratio of 2.09 and a beta of 0.81. Veeva Systems Inc. has a one year low of $165.12 and a one year high of $240.68. The business’s 50 day moving average price is $214.98 and its 200 day moving average price is $201.48.

Veeva Systems (NYSE:VEEV) last announced its quarterly 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 business 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%. As a group, equities research analysts forecast that Veeva Systems Inc. will post 4.21 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Raymond James increased their target price on Veeva Systems from $230.00 to $235.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. StockNews.com upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. Robert W. Baird reduced their price target on shares of Veeva Systems from $251.00 to $245.00 and set an “outperform” rating for the company in a research report on Monday, October 28th. Piper Sandler lifted their price objective on Veeva Systems from $230.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Finally, Royal Bank of Canada boosted their price objective on Veeva Systems from $250.00 to $275.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Veeva Systems currently has a consensus rating of “Moderate Buy” and an average target price of $236.92.

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.