B. Metzler seel. Sohn & Co. AG Purchases 8,151 Shares of Veeva Systems Inc. $VEEV

Key Points

• B. Metzler seel. Sohn & Co. AG increased its stake in Veeva Systems by 116.3%, owning 15,157 shares valued at approximately $3.5 million after acquiring an additional 8,151 shares during the first quarter.
• Institutional investors own 88.20% of Veeva Systems stock, with multiple funds such as Abound Financial LLC and Key Financial Inc also increasing their positions in the company.
• Recent price targets for Veeva Systems have been raised by various analysts, with Needham & Company setting a new target of $355.00, while the consensus rating remains a "Moderate Buy" with an average target price of $298.68.

B. Metzler seel. Sohn & Co. AG boosted its holdings in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 116.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,157 shares of the technology company's stock after purchasing an additional 8,151 shares during the quarter. B. Metzler seel. Sohn & Co. AG's holdings in Veeva Systems were worth $3,511,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in VEEV. Leigh Baldwin & CO. LLC bought a new stake in Veeva Systems during the 4th quarter valued at approximately $685,355,000. Nuveen LLC bought a new stake in Veeva Systems during the 1st quarter valued at approximately $365,684,000. Price T Rowe Associates Inc. MD raised its stake in Veeva Systems by 20.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,992,372 shares of the technology company's stock valued at $924,754,000 after purchasing an additional 689,700 shares during the period. Stockbridge Partners LLC bought a new stake in Veeva Systems during the 4th quarter valued at approximately $137,260,000. Finally, Linonia Partnership LP raised its stake in Veeva Systems by 52.7% during the 1st quarter. Linonia Partnership LP now owns 1,836,557 shares of the technology company's stock valued at $425,402,000 after purchasing an additional 633,585 shares during the period. Institutional investors own 88.20% of the company's stock.

Veeva Systems Trading Down 1.3%

Shares of NYSE VEEV traded down $3.48 during trading hours on Friday, hitting $268.85. 1,999,687 shares of the company traded hands, compared to its average volume of 1,321,190. The stock has a market capitalization of $43.93 billion, a price-to-earnings ratio of 55.21, a price-to-earnings-growth ratio of 2.12 and a beta of 0.95. The company's 50 day moving average price is $282.38 and its 200 day moving average price is $254.32. Veeva Systems Inc. has a 12 month low of $200.30 and a 12 month high of $296.72.

Veeva Systems (NYSE:VEEV - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The technology company reported $1.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.74 by $0.23. Veeva Systems had a return on equity of 14.19% and a net margin of 27.29%.The company had revenue of $759.04 million during the quarter, compared to analysts' expectations of $728.38 million. During the same quarter in the previous year, the business earned $1.50 EPS. Veeva Systems's revenue was up 16.7% compared to the same quarter last year. Equities analysts anticipate that Veeva Systems Inc. will post 4.35 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Wall Street Zen raised Veeva Systems from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. JPMorgan Chase & Co. raised their price target on Veeva Systems from $274.00 to $290.00 and gave the company a "neutral" rating in a report on Thursday. Truist Financial raised their price target on Veeva Systems from $268.00 to $275.00 and gave the company a "hold" rating in a report on Thursday. Citigroup raised their price target on Veeva Systems from $329.00 to $349.00 and gave the company a "buy" rating in a report on Thursday. Finally, Stifel Nicolaus raised their price target on Veeva Systems from $295.00 to $320.00 and gave the company a "buy" rating in a report on Thursday. Sixteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $299.88.

Insider Activity at Veeva Systems

In related news, SVP Jonathan Faddis sold 720 shares of the business's stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $285.62, for a total transaction of $205,646.40. Following the completion of the transaction, the senior vice president owned 7,902 shares in the company, valued at $2,256,969.24. The trade was a 8.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Priscilla Hung sold 172 shares of the business's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $283.00, for a total value of $48,676.00. Following the transaction, the director owned 4,137 shares of the company's stock, valued at approximately $1,170,771. The trade was a 3.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,378 shares of company stock worth $394,217 in the last quarter. 10.30% of the stock is owned by company 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.