Fiduciary Trust Co Increases Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Fiduciary Trust Co grew its stake in Veeva Systems Inc. (NYSE:VEEV) by 0.9% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 8,289 shares of the technology company’s stock after acquiring an additional 71 shares during the period. Fiduciary Trust Co’s holdings in Veeva Systems were worth $1,740,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA raised its position in Veeva Systems by 64.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company’s stock valued at $744,084,000 after purchasing an additional 1,392,256 shares during the period. FMR LLC raised its holdings in shares of Veeva Systems by 25.7% in the 3rd quarter. FMR LLC now owns 2,981,244 shares of the technology company’s stock valued at $625,674,000 after buying an additional 610,021 shares during the period. Principal Financial Group Inc. lifted its stake in Veeva Systems by 138.9% during the 3rd quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock worth $457,366,000 after acquiring an additional 1,267,061 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Veeva Systems by 3.7% during the 3rd quarter. Van ECK Associates Corp now owns 1,995,006 shares of the technology company’s stock valued at $434,372,000 after acquiring an additional 71,525 shares during the period. Finally, Swedbank AB grew its position in Veeva Systems by 4.9% in the 2nd quarter. Swedbank AB now owns 1,031,064 shares of the technology company’s stock valued at $188,695,000 after acquiring an additional 48,402 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Veeva Systems

In related news, insider Thomas D. Schwenger sold 1,126 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $240.01, for a total transaction of $270,251.26. Following the transaction, the insider now owns 27,013 shares of the company’s stock, valued at $6,483,390.13. This trade represents a 4.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 10.50% of the stock is currently owned by company insiders.

Veeva Systems Trading Up 0.5 %

Shares of NYSE VEEV opened at $227.94 on Friday. The stock has a market cap of $36.91 billion, a P/E ratio of 60.78, a P/E/G ratio of 2.20 and a beta of 0.81. Veeva Systems Inc. has a twelve month low of $165.12 and a twelve month high of $240.68. The stock has a 50 day moving average of $215.71 and a two-hundred day moving average of $202.00.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings results on Wednesday, August 28th. The technology company reported $1.07 EPS for the quarter, beating the consensus estimate of $1.04 by $0.03. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. The firm had revenue of $676.18 million during the quarter, compared to the consensus estimate of $667.21 million. As a group, research analysts predict that Veeva Systems Inc. will post 4.19 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently issued reports on VEEV shares. Needham & Company LLC reissued a “buy” rating and set a $260.00 price target on shares of Veeva Systems in a research report on Friday, November 8th. JPMorgan Chase & Co. boosted their price target on shares of Veeva Systems from $203.00 to $208.00 and gave the stock a “neutral” rating in a research note on Monday, September 9th. Bank of America increased their price objective on Veeva Systems from $204.00 to $240.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Truist Financial boosted their target price on Veeva Systems from $197.00 to $207.00 and gave the stock a “hold” rating in a research note on Tuesday, September 3rd. Finally, TD Cowen increased their price target on Veeva Systems from $180.00 to $192.00 and gave the company a “hold” rating in a research report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $236.92.

Veeva Systems Profile

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.