BNP Paribas Financial Markets Decreases Stock Position in Veeva Systems Inc. (NYSE:VEEV)

BNP Paribas Financial Markets lessened its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 26.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 67,264 shares of the technology company’s stock after selling 24,321 shares during the period. BNP Paribas Financial Markets’ holdings in Veeva Systems were worth $14,117,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. General American Investors Co. Inc. bought a new stake in Veeva Systems during the 3rd quarter valued at $5,133,000. Procyon Advisors LLC bought a new stake in shares of Veeva Systems during the 3rd quarter valued at $712,000. Envestnet Portfolio Solutions Inc. lifted its holdings in Veeva Systems by 44.9% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 29,782 shares of the technology company’s stock worth $5,450,000 after purchasing an additional 9,232 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Veeva Systems by 138.9% in the 3rd quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock worth $457,366,000 after purchasing an additional 1,267,061 shares during the period. Finally, Oppenheimer Asset Management Inc. boosted its stake in Veeva Systems by 3.6% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 78,000 shares of the technology company’s stock worth $16,370,000 after purchasing an additional 2,733 shares during the period. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Trading Up 0.5 %

VEEV stock opened at $227.85 on Monday. The firm’s 50-day moving average price is $215.71 and its two-hundred day moving average price is $201.92. The stock has a market capitalization of $36.90 billion, a price-to-earnings ratio of 60.76, a PEG ratio of 2.21 and a beta of 0.81. Veeva Systems Inc. has a 12-month low of $165.12 and a 12-month high of $240.68.

Insider Activity at Veeva Systems

In other news, insider Thomas D. Schwenger sold 1,126 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $240.01, for a total value of $270,251.26. Following the completion of the sale, the insider now directly owns 27,013 shares of the company’s stock, valued at approximately $6,483,390.13. This trade represents a 4.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 10.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

VEEV has been the subject of a number of analyst reports. Barclays raised their price objective on shares of Veeva Systems from $240.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Scotiabank began coverage on shares of Veeva Systems in a research report on Monday, November 18th. They set a “sector perform” rating and a $235.00 price target for the company. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 price objective on shares of Veeva Systems in a research report on Friday, November 8th. 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 report on Tuesday, September 3rd. Finally, Piper Sandler lifted their price target on Veeva Systems from $230.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, Veeva Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $236.92.

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.