Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Bridgewater Associates LP

Bridgewater Associates LP decreased its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 74.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 100,449 shares of the technology company’s stock after selling 287,740 shares during the period. Bridgewater Associates LP owned 0.06% of Veeva Systems worth $21,081,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA increased its holdings 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 buying an additional 1,392,256 shares during the last quarter. Principal Financial Group Inc. grew its position in 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 acquiring an additional 1,267,061 shares during the period. FMR LLC increased its stake in Veeva Systems by 25.7% during the third quarter. FMR LLC now owns 2,981,244 shares of the technology company’s stock worth $625,674,000 after acquiring an additional 610,021 shares during the last quarter. Jupiter Asset Management Ltd. raised its holdings in shares of Veeva Systems by 84.0% in the 2nd 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 holdings in shares of Veeva Systems by 545.5% in the 2nd 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.

Insider Activity

In other news, insider Thomas D. Schwenger sold 1,126 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 27,013 shares of the company’s stock, valued at approximately $6,483,390.13. This represents a 4.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 10.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. TD Cowen boosted their target price on Veeva Systems from $180.00 to $192.00 and gave the stock a “hold” rating in a report on Thursday, August 29th. StockNews.com raised Veeva Systems from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. UBS Group raised their target price on Veeva Systems from $185.00 to $215.00 and gave the company a “neutral” rating in a report on Monday, August 26th. Citigroup increased their target price on Veeva Systems from $256.00 to $273.00 and gave the company a “buy” rating in a research note on Tuesday, August 27th. Finally, BNP Paribas started coverage on shares of Veeva Systems in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $286.00 target price for the company. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $236.92.

Veeva Systems Trading Down 0.1 %

Shares of NYSE:VEEV opened at $226.76 on Thursday. The firm’s 50 day moving average is $215.20 and its two-hundred day moving average is $201.66. The firm has a market capitalization of $36.72 billion, a P/E ratio of 60.47, a PEG ratio of 2.19 and a beta of 0.81. Veeva Systems Inc. has a 52 week low of $165.12 and a 52 week high of $240.68.

Veeva Systems (NYSE:VEEV) last announced 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 return on equity of 13.30% and a net margin of 23.91%. The firm had revenue of $676.18 million for the quarter, compared to the consensus estimate of $667.21 million. Analysts predict that Veeva Systems Inc. will post 4.21 EPS for the current year.

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.