Asset Management One Co. Ltd. Sells 302 Shares of Veeva Systems Inc. (NYSE:VEEV)

Asset Management One Co. Ltd. lowered its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 0.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 54,684 shares of the technology company’s stock after selling 302 shares during the period. Asset Management One Co. Ltd.’s holdings in Veeva Systems were worth $11,477,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of Veeva Systems in the third quarter worth about $26,000. Advisors Asset Management Inc. acquired a new position in Veeva Systems during the 1st quarter worth approximately $28,000. Blue Trust Inc. lifted its stake in Veeva Systems by 3,460.0% in the 2nd quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock valued at $33,000 after purchasing an additional 173 shares during the last quarter. DT Investment Partners LLC acquired a new stake in Veeva Systems in the second quarter valued at approximately $35,000. Finally, Larson Financial Group LLC grew its stake in shares of Veeva Systems by 1,153.8% during the first quarter. Larson Financial Group LLC now owns 163 shares of the technology company’s stock worth $38,000 after buying an additional 150 shares during the last quarter. 88.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

VEEV has been the topic of several recent research reports. Bank of America raised their price objective on Veeva Systems from $204.00 to $240.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Piper Sandler boosted their price target on Veeva Systems from $225.00 to $230.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 price objective on shares of Veeva Systems in a report on Thursday, August 29th. Barclays boosted 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. Finally, JPMorgan Chase & Co. lifted their price target on shares of Veeva Systems from $203.00 to $208.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $232.87.

Veeva Systems Stock Performance

Shares of VEEV opened at $216.45 on Thursday. The firm has a market cap of $35.05 billion, a PE ratio of 57.72, a price-to-earnings-growth ratio of 2.07 and a beta of 0.81. Veeva Systems Inc. has a 52-week low of $162.72 and a 52-week high of $236.90. The business’s 50 day moving average price is $213.48 and its two-hundred day moving average price is $199.34.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Wednesday, August 28th. The technology company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.03. The firm had revenue of $676.18 million for the quarter, compared to analyst estimates of $667.21 million. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. Research analysts predict that Veeva Systems Inc. will post 4.21 EPS for the current fiscal year.

Insiders Place Their Bets

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 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 $1,807,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 10.50% of the company’s stock.

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 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.