B. Metzler seel. Sohn & Co. Holding AG Buys New Stake in Veeva Systems Inc. (NYSE:VEEV)

B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Veeva Systems Inc. (NYSE:VEEV) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 5,987 shares of the technology company’s stock, valued at approximately $1,256,000.

Several other hedge funds also recently added to or reduced their stakes in VEEV. Advisors Asset Management Inc. acquired a new position in shares of Veeva Systems during the first quarter worth $28,000. Mowery & Schoenfeld Wealth Management LLC purchased a new position in Veeva Systems in the 3rd quarter valued at about $26,000. Blue Trust Inc. grew its stake in shares of Veeva Systems by 3,460.0% during the second quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock valued at $33,000 after acquiring an additional 173 shares in the last quarter. DT Investment Partners LLC purchased a new stake in shares of Veeva Systems during the second quarter worth about $35,000. Finally, Fairscale Capital LLC acquired a new position in shares of Veeva Systems in the second quarter worth about $46,000. 88.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Veeva Systems

In other news, insider Thomas D. Schwenger sold 1,126 shares of Veeva Systems stock in a transaction on 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 directly owns 27,013 shares in the company, valued at approximately $6,483,390.13. This trade represents a 4.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 10.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Robert W. Baird dropped their price objective on Veeva Systems from $251.00 to $245.00 and set an “outperform” rating on the stock in a report on Monday, October 28th. Royal Bank of Canada lifted their price target on shares of Veeva Systems from $250.00 to $275.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. StockNews.com upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. Guggenheim boosted their target price on shares of Veeva Systems from $233.00 to $249.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Finally, Raymond James lifted their price target on Veeva Systems from $230.00 to $235.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $236.92.

Veeva Systems Trading Up 1.0 %

VEEV opened at $216.59 on Friday. Veeva Systems Inc. has a twelve month low of $165.12 and a twelve month high of $240.68. The stock has a market cap of $35.07 billion, a PE ratio of 57.76, a price-to-earnings-growth ratio of 2.03 and a beta of 0.81. The business’s 50 day moving average is $214.54 and its 200-day moving average is $201.19.

Veeva Systems (NYSE:VEEV) last announced its earnings results 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. Veeva Systems had a return on equity of 13.30% and a net margin of 23.91%. The firm had revenue of $676.18 million for the quarter, compared to the consensus estimate of $667.21 million. As a group, analysts forecast that Veeva Systems Inc. will post 4.21 EPS for the current year.

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.