Bath Savings Trust Co Increases Stake in Veeva Systems Inc. (NYSE:VEEV)

Bath Savings Trust Co lifted its stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 72.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,834 shares of the technology company's stock after purchasing an additional 12,931 shares during the quarter. Bath Savings Trust Co's holdings in Veeva Systems were worth $7,142,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in VEEV. Venturi Wealth Management LLC lifted its holdings in shares of Veeva Systems by 2,716.7% in the fourth quarter. Venturi Wealth Management LLC now owns 169 shares of the technology company's stock valued at $36,000 after purchasing an additional 163 shares in the last quarter. SYM FINANCIAL Corp bought a new position in shares of Veeva Systems during the 4th quarter worth approximately $729,000. Linonia Partnership LP lifted its holdings in Veeva Systems by 42.1% during the fourth quarter. Linonia Partnership LP now owns 1,202,972 shares of the technology company's stock worth $252,925,000 after acquiring an additional 356,300 shares during the period. Boston Trust Walden Corp bought a new stake in Veeva Systems during the fourth quarter worth $7,964,000. Finally, William Allan Corp lifted its holdings in Veeva Systems by 3.8% during the fourth quarter. William Allan Corp now owns 12,860 shares of the technology company's stock worth $2,704,000 after acquiring an additional 474 shares during the period. Institutional investors own 88.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Piper Sandler lifted their target price on Veeva Systems from $255.00 to $325.00 and gave the stock an "overweight" rating in a research note on Thursday. Citigroup boosted their target price on shares of Veeva Systems from $265.00 to $329.00 and gave the company a "buy" rating in a report on Friday. JPMorgan Chase & Co. upped their target price on shares of Veeva Systems from $218.00 to $249.00 and gave the stock a "neutral" rating in a report on Thursday, March 20th. Truist Financial raised their price target on Veeva Systems from $217.00 to $230.00 and gave the company a "hold" rating in a report on Thursday. Finally, Wall Street Zen upgraded shares of Veeva Systems from a "hold" rating to a "buy" rating in a research report on Friday. Two analysts have 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.com, the stock has an average rating of "Moderate Buy" and an average price target of $269.00.

Insider Activity at Veeva Systems

In other news, Director Timothy S. Cabral sold 3,882 shares of the business's stock in a transaction on Friday, April 4th. The shares were sold at an average price of $216.83, for a total transaction of $841,734.06. Following the sale, the director now owns 5,500 shares in the company, valued at approximately $1,192,565. The trade was a 41.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Thomas D. Schwenger sold 1,200 shares of the company's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $220.97, for a total transaction of $265,164.00. Following the completion of the sale, the insider now directly owns 25,889 shares in the company, valued at $5,720,692.33. This represents a 4.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,869 shares of company stock worth $1,284,917 over the last quarter. Corporate insiders own 10.30% of the company's stock.

Veeva Systems Stock Up 0.4%

Shares of NYSE:VEEV traded up $0.99 during midday trading on Friday, hitting $280.03. 3,578,987 shares of the stock traded hands, compared to its average volume of 1,132,660. The stock has a market capitalization of $45.56 billion, a PE ratio of 69.14, a P/E/G ratio of 1.89 and a beta of 0.96. The business's 50 day moving average is $230.48 and its two-hundred day moving average is $227.86. Veeva Systems Inc. has a one year low of $171.10 and a one year high of $285.70.

Veeva Systems (NYSE:VEEV - Get Free Report) last announced its quarterly earnings results 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 13.56% and a net margin of 25.07%. The company had revenue of $759.04 million for the quarter, compared to the consensus estimate 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. As a group, sell-side analysts forecast that Veeva Systems Inc. will post 4.35 earnings per share 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.