Carmignac Gestion Has $4.68 Million Stake in Veeva Systems Inc. $VEEV

Key Points

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Carmignac Gestion cut its stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 72.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,180 shares of the technology company's stock after selling 52,510 shares during the period. Carmignac Gestion's holdings in Veeva Systems were worth $4,681,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Abound Financial LLC bought a new position in Veeva Systems during the first quarter worth about $25,000. ORG Partners LLC bought a new position in Veeva Systems during the 1st quarter worth approximately $26,000. Golden State Wealth Management LLC grew its holdings in 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 purchasing an additional 78 shares during the period. Wayfinding Financial LLC acquired a new stake in Veeva Systems in the first quarter worth $32,000. Finally, Key Financial Inc boosted its position in shares of Veeva Systems by 161.0% during the first quarter. Key Financial Inc now owns 154 shares of the technology company's stock worth $36,000 after purchasing an additional 95 shares in the last quarter. Institutional investors own 88.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on VEEV. Truist Financial upped their price objective on shares of Veeva Systems from $217.00 to $230.00 and gave the company a "hold" rating in a research report on Thursday, May 29th. Citigroup increased their price target on Veeva Systems from $265.00 to $329.00 and gave the stock a "buy" rating in a report on Friday, May 30th. UBS Group lifted their price objective on Veeva Systems from $250.00 to $285.00 and gave the company a "neutral" rating in a report on Thursday, May 29th. Barclays increased their target price on Veeva Systems from $285.00 to $300.00 and gave the stock an "overweight" rating in a research note on Thursday, May 29th. Finally, Needham & Company LLC lifted their price target on shares of Veeva Systems from $270.00 to $300.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Fourteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $274.17.

Insider Transactions at Veeva Systems

In other news, Director Priscilla Hung sold 172 shares of the company's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $283.00, for a total value of $48,676.00. Following the sale, the director directly owned 4,137 shares of the company's stock, valued at approximately $1,170,771. This represents a 3.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jonathan Faddis sold 720 shares of the firm's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $285.62, for a total transaction 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. Insiders have sold 1,378 shares of company stock worth $394,217 in the last ninety days. Insiders own 10.30% of the company's stock.

Veeva Systems Trading Up 3.1%

Shares of NYSE:VEEV traded up $8.75 during trading on Friday, hitting $291.03. 961,444 shares of the company were exchanged, compared to its average volume of 1,080,466. Veeva Systems Inc. has a fifty-two week low of $196.10 and a fifty-two week high of $296.72. The stock has a market cap of $47.56 billion, a price-to-earnings ratio of 61.66, a P/E/G ratio of 2.30 and a beta of 0.95. The firm has a fifty day moving average price of $282.35 and a two-hundred day moving average price of $252.59.

Veeva Systems (NYSE:VEEV - Get Free Report) last released its earnings results on Wednesday, May 28th. The technology company reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.23. Veeva Systems had a net margin of 27.34% and a return on equity of 13.96%. The business had revenue of $759.04 million during the quarter, compared to analysts' expectations of $728.38 million. During the same period last year, the business earned $1.50 earnings per share. The firm's revenue was up 16.7% on a year-over-year basis. As a group, research analysts predict that Veeva Systems Inc. will post 4.35 EPS for the current year.

Veeva Systems 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.