Truist Financial Corp grew its position in Veeva Systems Inc. (NYSE:VEEV – Free Report) by 1.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 92,823 shares of the technology company’s stock after acquiring an additional 1,694 shares during the quarter. Truist Financial Corp owned 0.06% of Veeva Systems worth $17,060,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also modified their holdings of VEEV. Pinnacle Bancorp Inc. bought a new stake in Veeva Systems in the first quarter worth $26,000. Ahrens Investment Partners LLC bought a new stake in shares of Veeva Systems in the 1st quarter worth about $27,000. HM Payson & Co. increased its holdings in shares of Veeva Systems by 400.0% in the 4th quarter. HM Payson & Co. now owns 190 shares of the technology company’s stock worth $31,000 after buying an additional 152 shares during the last quarter. Glass Jacobson Investment Advisors llc bought a new position in shares of Veeva Systems in the 4th quarter valued at about $33,000. Finally, Resurgent Financial Advisors LLC bought a new stake in shares of Veeva Systems in the 4th quarter valued at approximately $33,000. 89.65% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In related news, Director Paul Edward Chamberlain sold 160 shares of Veeva Systems stock in a transaction that occurred on Monday, June 12th. The stock was 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 directly owns 16,942 shares in the company, valued at $3,205,765.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Paul Edward Chamberlain sold 160 shares of the business’s 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 of the company’s stock, valued at approximately $3,205,765.24. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Timothy S. Cabral sold 12,036 shares of Veeva Systems stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $200.05, for a total transaction of $2,407,801.80. Following the completion of the sale, the director now owns 71,078 shares in the company, valued at approximately $14,219,153.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,425 shares of company stock valued at $3,078,109. Insiders own 10.98% of the company’s stock.
Veeva Systems Price Performance
Veeva Systems (NYSE:VEEV – Get 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 business had revenue of $526.33 million for the quarter, compared to analyst estimates of $515.47 million. As a group, equities research analysts anticipate that Veeva Systems Inc. will post 2.7 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of research firms have weighed in on VEEV. KeyCorp boosted their price objective on shares of Veeva Systems from $185.00 to $210.00 in a research report on Friday, June 2nd. Piper Sandler increased their price objective on shares of Veeva Systems from $215.00 to $232.00 and gave the stock an “overweight” rating in a research report on Monday, July 31st. Guggenheim upgraded Veeva Systems from a “neutral” rating to a “buy” rating and set a $226.00 target price for the company in a research report on Thursday, June 1st. Citigroup reduced their price target on Veeva Systems from $218.00 to $200.00 in a report on Wednesday, May 31st. Finally, UBS Group dropped their price objective on Veeva Systems from $190.00 to $175.00 in a report on Monday, May 22nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $206.86.
View Our Latest Stock Analysis on VEEV
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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