Veeva Systems Inc. (NYSE:VEEV) Position Boosted by Quintet Private Bank Europe S.A.

by · The Markets Daily

Quintet Private Bank Europe S.A. grew its holdings in shares of Veeva Systems Inc. (NYSE:VEEV – Free Report) by 13.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 516 shares of the technology company’s stock after purchasing an additional 61 shares during the period. Quintet Private Bank Europe S.A.’s holdings in Veeva Systems were worth $108,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in VEEV. Norden Group LLC bought a new position in shares of Veeva Systems during the 1st quarter valued at about $304,000. First Trust Direct Indexing L.P. boosted its position in shares of Veeva Systems by 19.0% during the 1st quarter. First Trust Direct Indexing L.P. now owns 1,403 shares of the technology company’s stock valued at $325,000 after purchasing an additional 224 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of Veeva Systems by 30.8% during the 1st quarter. BNP Paribas Financial Markets now owns 89,023 shares of the technology company’s stock valued at $20,626,000 after purchasing an additional 20,982 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in shares of Veeva Systems by 13.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 44,529 shares of the technology company’s stock valued at $10,317,000 after purchasing an additional 5,224 shares in the last quarter. Finally, Capstone Investment Advisors LLC boosted its position in shares of Veeva Systems by 34.0% during the 1st quarter. Capstone Investment Advisors LLC now owns 2,544 shares of the technology company’s stock valued at $589,000 after purchasing an additional 645 shares in the last quarter. Institutional investors own 88.20% of the company’s stock.

Insider Transactions at Veeva Systems

In other news, SVP Jonathan Faddis sold 2,353 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $200.00, for a total transaction of $470,600.00. Following the completion of the sale, the senior vice president now owns 9,035 shares in the company, valued at approximately $1,807,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 10.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on VEEV shares. Guggenheim raised their target price on shares of Veeva Systems from $233.00 to $249.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. StockNews.com downgraded shares of Veeva Systems from a “buy” rating to a “hold” rating in a research note on Friday. BNP Paribas began coverage on Veeva Systems in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $286.00 target price for the company. Citigroup upped their price target on Veeva Systems from $256.00 to $273.00 and gave the company a “buy” rating in a research report on Tuesday, August 27th. Finally, JPMorgan Chase & Co. raised their price objective on Veeva Systems from $203.00 to $208.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Veeva Systems presently has an average rating of “Moderate Buy” and an average target price of $232.87.

Get Our Latest Stock Analysis on Veeva Systems

Veeva Systems Price Performance

Shares of VEEV stock opened at $212.53 on Tuesday. The firm has a market cap of $34.41 billion, a P/E ratio of 56.67, a PEG ratio of 2.07 and a beta of 0.81. The stock’s 50-day moving average is $212.89 and its two-hundred day moving average is $199.12. Veeva Systems Inc. has a fifty-two week low of $162.72 and a fifty-two week high of $236.90.

Veeva Systems (NYSE:VEEV – Get Free Report) last released its quarterly earnings results on Wednesday, August 28th. The technology company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.03. The company had revenue of $676.18 million during the quarter, compared to the consensus estimate of $667.21 million. Veeva Systems had a return on equity of 13.30% and a net margin of 23.91%. As a group, research analysts expect that Veeva Systems Inc. will post 4.21 EPS for the current year.

Veeva Systems Profile

(Free Report)

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.

See Also

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