Bank of Nova Scotia Has $609,000 Stake in Veeva Systems Inc. (NYSE:VEEV)

Posted by on May 24th, 2023

Bank of Nova Scotia lifted its position in shares of Veeva Systems Inc. (NYSE:VEEV – Get Rating) by 118.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,770 shares of the technology company’s stock after buying an additional 2,045 shares during the quarter. Bank of Nova Scotia’s holdings in Veeva Systems were worth $609,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of VEEV. CI Investments Inc. boosted its position in Veeva Systems by 964.7% during the third quarter. CI Investments Inc. now owns 181 shares of the technology company’s stock valued at $30,000 after acquiring an additional 164 shares during the last quarter. Lindbrook Capital LLC boosted its position in shares of Veeva Systems by 143.0% during the 4th quarter. Lindbrook Capital LLC now owns 192 shares of the technology company’s stock valued at $31,000 after purchasing an additional 113 shares in the last quarter. HM Payson & Co. grew its stake in Veeva Systems by 400.0% during the fourth quarter. HM Payson & Co. now owns 190 shares of the technology company’s stock worth $31,000 after purchasing an additional 152 shares during the period. My Personal CFO LLC bought a new stake in Veeva Systems in the fourth quarter worth approximately $33,000. Finally, Glass Jacobson Investment Advisors llc acquired a new position in Veeva Systems in the fourth quarter valued at approximately $33,000. Institutional investors own 78.76% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on VEEV. UBS Group reduced their price objective on shares of Veeva Systems from $190.00 to $175.00 in a research report on Monday. Robert W. Baird dropped their price objective on shares of Veeva Systems from $233.00 to $223.00 and set an “outperform” rating on the stock in a report on Monday, February 27th. KeyCorp reduced their target price on Veeva Systems from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Friday, March 3rd. JMP Securities upped their price target on Veeva Systems from $215.00 to $230.00 and gave the stock a “market outperform” rating in a research note on Thursday, March 2nd. Finally, Barclays cut their price target on Veeva Systems from $205.00 to $197.00 and set an “overweight” rating on the stock in a report on Thursday, March 2nd. Twelve investment analysts have rated the stock with a hold rating and thirteen 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 price target of $203.74.

Insider Activity

In other Veeva Systems news, Director Paul J. Sekhri sold 2,658 shares of the firm’s stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $181.93, for a total value of $483,569.94. Following the completion of the sale, the director now directly owns 16,381 shares of the company’s stock, valued at $2,980,195.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Paul J. Sekhri sold 2,658 shares of the stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $181.93, for a total transaction of $483,569.94. Following the completion of the transaction, the director now owns 16,381 shares in the company, valued at approximately $2,980,195.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Matthew J. Wallach sold 10,000 shares of the business’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $178.56, for a total value of $1,785,600.00. Following the completion of the sale, the director now owns 3,145 shares in the company, valued at $561,571.20. The disclosure for this sale can be found here. Insiders sold 12,818 shares of company stock valued at $2,296,277 in the last three months. Company insiders own 10.98% of the company’s stock.

Veeva Systems Stock Down 0.8 %

VEEV stock opened at $163.97 on Wednesday. The business has a 50 day moving average of $176.71 and a 200-day moving average of $173.56. The firm has a market cap of $26.20 billion, a PE ratio of 54.48, a P/E/G ratio of 2.82 and a beta of 0.92. Veeva Systems Inc. has a 12-month low of $151.02 and a 12-month high of $232.26.

Veeva Systems (NYSE:VEEV – Get Rating) last announced its earnings results on Wednesday, March 1st. The technology company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.06. The firm had revenue of $563.39 million during the quarter, compared to analyst estimates of $552.18 million. Veeva Systems had a return on equity of 12.42% and a net margin of 22.63%. On average, research analysts expect that Veeva Systems Inc. will post 2.55 earnings per share for the current year.

Veeva Systems Company Profile

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Veeva Systems, Inc engages in the provision of industry cloud solutions for the global life sciences industry. Its solutions enable pharmaceutical and other life sciences companies to realize the benefits of modern cloud-based architectures and mobile applications for their most critical business functions, without compromising industry-specific functionality or regulatory compliance.

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Institutional Ownership by Quarter for Veeva Systems (NYSE:VEEV)

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