DekaBank Deutsche Girozentrale increased its position in shares of Veeva Systems Inc. (NYSE:VEEV – Free Report) by 29.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 126,940 shares of the technology company’s stock after acquiring an additional 28,930 shares during the quarter. DekaBank Deutsche Girozentrale owned about 0.08% of Veeva Systems worth $22,467,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Arthur M. Cohen & Associates LLC boosted its stake in Veeva Systems by 2.2% during the 1st quarter. Arthur M. Cohen & Associates LLC now owns 17,900 shares of the technology company’s stock worth $3,289,000 after acquiring an additional 385 shares during the last quarter. Rockland Trust Co. lifted its stake in Veeva Systems by 6.2% in the first quarter. Rockland Trust Co. now owns 71,659 shares of the technology company’s stock valued at $13,170,000 after buying an additional 4,203 shares in the last quarter. Merit Financial Group LLC lifted its stake in Veeva Systems by 4.7% in the first quarter. Merit Financial Group LLC now owns 22,739 shares of the technology company’s stock valued at $4,179,000 after buying an additional 1,018 shares in the last quarter. Ahrens Investment Partners LLC bought a new position in Veeva Systems in the first quarter valued at approximately $27,000. Finally, Congress Asset Management Co. MA lifted its stake in Veeva Systems by 57.0% in the first quarter. Congress Asset Management Co. MA now owns 403,137 shares of the technology company’s stock valued at $74,093,000 after buying an additional 146,409 shares in the last quarter. Institutional investors own 89.65% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on VEEV. UBS Group cut their price objective on shares of Veeva Systems from $190.00 to $175.00 in a research report on Monday, May 22nd. Guggenheim raised shares of Veeva Systems from a “neutral” rating to a “buy” rating and set a $226.00 price objective on the stock in a research report on Thursday, June 1st. Barclays boosted their price objective on shares of Veeva Systems from $203.00 to $225.00 in a research report on Friday, June 23rd. Raymond James boosted their target price on shares of Veeva Systems from $200.00 to $210.00 in a report on Thursday, June 1st. Finally, Piper Sandler boosted their target price on shares of Veeva Systems from $212.00 to $215.00 in a report on Thursday, June 1st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $205.09.
Veeva Systems Stock Performance
Veeva Systems (NYSE:VEEV – Free Report) last released its quarterly earnings results on Wednesday, May 31st. The technology company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.09. Veeva Systems had a net margin of 23.85% and a return on equity of 10.88%. The firm had revenue of $526.33 million during the quarter, compared to analyst estimates of $515.47 million. Equities research analysts predict that Veeva Systems Inc. will post 2.7 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Veeva Systems news, Director Paul Edward Chamberlain sold 160 shares of the firm’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $189.22, for a total transaction of $30,275.20. Following the completion of the transaction, the director now owns 16,942 shares in the company, valued at approximately $3,205,765.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Paul Edward Chamberlain sold 160 shares of Veeva Systems stock in a transaction on Monday, June 12th. The shares were sold at an average price of $189.22, for a total value of $30,275.20. Following the completion of the sale, the director now owns 16,942 shares in the company, valued at approximately $3,205,765.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Michele O’connor sold 3,137 shares of Veeva Systems stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $197.95, for a total transaction of $620,969.15. Following the completion of the sale, the chief accounting officer now owns 8,433 shares of the company’s stock, valued at approximately $1,669,312.35. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,333 shares of company stock worth $3,059,046. 10.98% of the stock is currently owned by insiders.
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 data 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.
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