ASR Vermogensbeheer N.V. Has $1.49 Million Stake in Veeva Systems Inc. $VEEV

Key Points

• ASR Vermogensbeheer N.V. increased its stake in Veeva Systems by 64.2%, owning 5,167 shares valued at approximately $1.49 million as of the end of the most recent quarter.
• Veeva Systems' current market cap is $48.60 billion, with a stock price opening at $296.47 and a projected consensus price target of $303.67 from analysts.
• Insider trading activity included significant stock sales by SVP Jonathan Faddis and insider Thomas D. Schwenger, who sold 14,595 and 3,350 shares, respectively, indicating notable insider movement.

ASR Vermogensbeheer N.V. boosted its stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 64.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,167 shares of the technology company's stock after buying an additional 2,020 shares during the quarter. ASR Vermogensbeheer N.V.'s holdings in Veeva Systems were worth $1,488,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of VEEV. Abound Financial LLC acquired a new position in Veeva Systems in the first quarter worth $25,000. ORG Partners LLC acquired a new position in Veeva Systems in the first quarter worth $26,000. Golden State Wealth Management LLC lifted its stake in shares of Veeva Systems by 152.9% during the first quarter. Golden State Wealth Management LLC now owns 129 shares of the technology company's stock valued at $30,000 after acquiring an additional 78 shares during the period. Wayfinding Financial LLC bought a new position in Veeva Systems in the first quarter valued at about $32,000. Finally, Maseco LLP bought a new position in Veeva Systems in the second quarter valued at about $35,000. Institutional investors and hedge funds own 88.20% of the company's stock.

Veeva Systems Price Performance

NYSE VEEV opened at $296.47 on Friday. The firm has a market cap of $48.60 billion, a P/E ratio of 60.88, a P/E/G ratio of 2.29 and a beta of 0.98. Veeva Systems Inc. has a one year low of $200.30 and a one year high of $302.00. The stock's 50-day moving average is $281.68 and its 200-day moving average is $262.93.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Stifel Nicolaus upped their price objective on Veeva Systems from $295.00 to $320.00 and gave the company a "buy" rating in a report on Thursday, August 28th. KeyCorp increased their target price on shares of Veeva Systems from $285.00 to $325.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. Raymond James Financial reiterated an "outperform" rating and issued a $340.00 target price (up from $310.00) on shares of Veeva Systems in a report on Thursday, August 28th. Barclays increased their target price on shares of Veeva Systems from $300.00 to $325.00 and gave the stock an "overweight" rating in a report on Thursday, August 28th. Finally, Truist Financial increased their target price on shares of Veeva Systems from $268.00 to $275.00 and gave the stock a "hold" rating in a report on Thursday, August 28th. Sixteen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $303.67.

Insider Buying and Selling

In related news, SVP Jonathan Faddis sold 14,595 shares of the stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $300.00, for a total transaction of $4,378,500.00. Following the completion of the transaction, the senior vice president directly owned 8,588 shares in the company, valued at approximately $2,576,400. This trade represents a 62.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Thomas D. Schwenger sold 3,350 shares of the stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $300.04, for a total value of $1,005,134.00. Following the transaction, the insider owned 23,773 shares of the company's stock, valued at approximately $7,132,850.92. The trade was a 12.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,836 shares of company stock worth $5,637,913. 10.30% of the stock is owned by corporate insiders.

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.

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