Hemenway Trust Co LLC Has $369,000 Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Hemenway Trust Co LLC trimmed its stake in Veeva Systems Inc. (NYSE:VEEV) by 16.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,756 shares of the technology company’s stock after selling 350 shares during the quarter. Hemenway Trust Co LLC’s holdings in Veeva Systems were worth $369,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in VEEV. GSA Capital Partners LLP acquired a new position in Veeva Systems during the third quarter worth $526,000. Entropy Technologies LP increased its stake in shares of Veeva Systems by 40.5% during the 3rd quarter. Entropy Technologies LP now owns 19,044 shares of the technology company’s stock worth $3,997,000 after purchasing an additional 5,492 shares during the last quarter. Jensen Investment Management Inc. raised its holdings in shares of Veeva Systems by 9.5% in the 3rd quarter. Jensen Investment Management Inc. now owns 23,251 shares of the technology company’s stock valued at $4,880,000 after purchasing an additional 2,021 shares during the period. Montanaro Asset Management Ltd lifted its stake in Veeva Systems by 5.1% in the 3rd quarter. Montanaro Asset Management Ltd now owns 80,250 shares of the technology company’s stock valued at $16,842,000 after purchasing an additional 3,900 shares during the last quarter. Finally, Covestor Ltd grew its holdings in Veeva Systems by 20.1% during the third quarter. Covestor Ltd now owns 841 shares of the technology company’s stock worth $176,000 after purchasing an additional 141 shares during the period. 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 business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $200.00, for a total value of $470,600.00. Following the transaction, the senior vice president now owns 9,035 shares in the company, valued at approximately $1,807,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 10.50% of the stock is owned by corporate insiders.

Veeva Systems Trading Up 0.3 %

VEEV traded up $0.79 during trading on Tuesday, reaching $237.66. 35,569 shares of the company’s stock were exchanged, compared to its average volume of 941,196. Veeva Systems Inc. has a one year low of $162.85 and a one year high of $240.68. The firm has a fifty day moving average price of $214.39 and a two-hundred day moving average price of $200.01. The stock has a market capitalization of $38.49 billion, a PE ratio of 63.20, a price-to-earnings-growth ratio of 2.29 and a beta of 0.81.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings data on Wednesday, August 28th. The technology company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.03. The business 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%. Sell-side analysts expect that Veeva Systems Inc. will post 4.21 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on VEEV. Royal Bank of Canada raised their price objective on Veeva Systems from $250.00 to $275.00 and gave the company an “outperform” rating in a research report on Friday. Bank of America increased their price target on shares of Veeva Systems from $204.00 to $240.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Robert W. Baird reduced their price objective on Veeva Systems from $251.00 to $245.00 and set an “outperform” rating for the company in a report on Monday, October 28th. Needham & Company LLC reiterated a “buy” rating and set a $260.00 target price on shares of Veeva Systems in a research note on Friday. Finally, Citigroup boosted their price target on Veeva Systems from $256.00 to $273.00 and gave the company a “buy” rating in a research note on Tuesday, August 27th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, Veeva Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $237.00.

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.