DekaBank Deutsche Girozentrale Trims Stake in Veeva Systems Inc. (NYSE:VEEV)

DekaBank Deutsche Girozentrale lessened its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 1.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 51,742 shares of the technology company’s stock after selling 669 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Veeva Systems were worth $10,843,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. First Bank & Trust lifted its position in shares of Veeva Systems by 2.2% during the 3rd quarter. First Bank & Trust now owns 3,966 shares of the technology company’s stock valued at $832,000 after buying an additional 85 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Veeva Systems by 15.2% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 14,240 shares of the technology company’s stock valued at $2,989,000 after purchasing an additional 1,877 shares in the last quarter. Arkadios Wealth Advisors boosted its position in shares of Veeva Systems by 15.3% in the third quarter. Arkadios Wealth Advisors now owns 3,054 shares of the technology company’s stock worth $641,000 after purchasing an additional 406 shares during the period. NorthCrest Asset Manangement LLC increased its stake in shares of Veeva Systems by 4.7% in the third quarter. NorthCrest Asset Manangement LLC now owns 47,770 shares of the technology company’s stock worth $10,026,000 after purchasing an additional 2,148 shares in the last quarter. Finally, Forsta AP Fonden raised its position in shares of Veeva Systems by 10.4% during the 3rd quarter. Forsta AP Fonden now owns 31,800 shares of the technology company’s stock valued at $6,674,000 after purchasing an additional 3,000 shares during the period. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Analyst Upgrades and Downgrades

VEEV has been the subject of several recent analyst reports. Barclays upped their target price on shares of Veeva Systems from $220.00 to $240.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. JPMorgan Chase & Co. increased their target price on Veeva Systems from $203.00 to $208.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. UBS Group boosted their price target on Veeva Systems from $185.00 to $215.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. Citigroup increased their price objective on shares of Veeva Systems from $256.00 to $273.00 and gave the company a “buy” rating in a report on Tuesday, August 27th. Finally, Piper Sandler lifted their price objective on shares of Veeva Systems from $225.00 to $230.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $232.87.

Insider Buying and Selling

In other Veeva Systems news, SVP Jonathan Faddis sold 2,353 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $200.00, for a total value of $470,600.00. Following the sale, the senior vice president now owns 9,035 shares in the company, valued at $1,807,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 10.50% of the stock is owned by corporate insiders.

Veeva Systems Trading Up 0.3 %

Shares of VEEV opened at $214.56 on Thursday. Veeva Systems Inc. has a twelve month low of $162.72 and a twelve month high of $236.90. The company’s fifty day simple moving average is $212.11 and its 200-day simple moving average is $198.89. The company has a market cap of $34.74 billion, a P/E ratio of 57.22, a P/E/G ratio of 2.06 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, topping analysts’ consensus estimates of $1.04 by $0.03. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. The company had revenue of $676.18 million for the quarter, compared to analyst estimates of $667.21 million. Analysts predict that Veeva Systems Inc. will post 4.21 earnings per share for the current fiscal year.

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.