Amundi Has $108.30 Million Position in Veeva Systems Inc. $VEEV

Key Points

• Amundi increased its stake in Veeva Systems Inc. by 6.5%, acquiring an additional 29,923 shares, bringing its total holdings to 488,967 shares valued at approximately $108.3 million.
• Veeva Systems’ stock price has shown a 1.1% increase recently, with a twelve-month range of $200.30 to $296.72.
• Analysts have mixed ratings on Veeva Systems, with a consensus rating of "Moderate Buy" and an average target price of approximately $299.88.

Amundi lifted its holdings in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 6.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 488,967 shares of the technology company's stock after buying an additional 29,923 shares during the period. Amundi owned about 0.30% of Veeva Systems worth $108,301,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Sowell Financial Services LLC bought a new stake in Veeva Systems during the first quarter worth about $274,000. Crossmark Global Holdings Inc. bought a new stake in shares of Veeva Systems during the 1st quarter worth approximately $299,000. Janney Montgomery Scott LLC acquired a new stake in shares of Veeva Systems in the 1st quarter valued at approximately $5,876,000. GAMMA Investing LLC boosted its holdings in shares of Veeva Systems by 13.8% in the 1st quarter. GAMMA Investing LLC now owns 1,823 shares of the technology company's stock valued at $422,000 after buying an additional 221 shares during the last quarter. Finally, Private Trust Co. NA grew its stake in shares of Veeva Systems by 35.0% in the first quarter. Private Trust Co. NA now owns 247 shares of the technology company's stock valued at $57,000 after buying an additional 64 shares in the last quarter. Institutional investors own 88.20% of the company's stock.

Insider Buying and Selling

In related news, Director Priscilla Hung sold 172 shares of Veeva Systems stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $283.00, for a total transaction of $48,676.00. Following the completion of the sale, the director directly owned 4,137 shares of the company's stock, valued at approximately $1,170,771. This trade represents a 3.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Jonathan Faddis sold 720 shares of the business's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $285.62, for a total value of $205,646.40. Following the completion of the sale, the senior vice president owned 7,902 shares of the company's stock, valued at $2,256,969.24. This trade represents a 8.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,063 shares of company stock worth $302,955. 10.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Evercore ISI increased their price target on shares of Veeva Systems from $285.00 to $295.00 and gave the company an "in-line" rating in a research note on Thursday, August 28th. Canaccord Genuity Group upped their target price on shares of Veeva Systems from $270.00 to $300.00 and gave the company a "hold" rating in a report on Thursday, August 28th. Truist Financial raised their target price on shares of Veeva Systems from $268.00 to $275.00 and gave the company a "hold" rating in a research note on Thursday, August 28th. KeyCorp boosted their price target on Veeva Systems from $285.00 to $325.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. Finally, Barclays raised their price objective on Veeva Systems from $300.00 to $325.00 and gave the company an "overweight" rating in a research report on Thursday, August 28th. Seventeen analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, Veeva Systems has a consensus rating of "Moderate Buy" and a consensus target price of $301.48.

Veeva Systems Price Performance

Veeva Systems stock traded down $7.78 during trading hours on Wednesday, hitting $274.90. The company had a trading volume of 887,702 shares, compared to its average volume of 1,331,516. The firm has a 50-day moving average of $281.23 and a 200 day moving average of $256.25. The firm has a market cap of $45.06 billion, a PE ratio of 56.37, a PEG ratio of 2.20 and a beta of 0.95. Veeva Systems Inc. has a one year low of $200.30 and a one year high of $296.72.

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.