DekaBank Deutsche Girozentrale Acquires 16,672 Shares of Veeva Systems Inc. (NYSE:VEEV)

DekaBank Deutsche Girozentrale boosted its position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 32.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 68,414 shares of the technology company's stock after purchasing an additional 16,672 shares during the period. DekaBank Deutsche Girozentrale's holdings in Veeva Systems were worth $15,956,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Abound Financial LLC acquired a new stake in shares of Veeva Systems in the first quarter worth about $25,000. ORG Partners LLC acquired a new stake in shares of Veeva Systems in the first quarter worth about $26,000. Golden State Wealth Management LLC lifted its position in shares of Veeva Systems by 152.9% in the first quarter. Golden State Wealth Management LLC now owns 129 shares of the technology company's stock worth $30,000 after buying an additional 78 shares during the last quarter. Wayfinding Financial LLC acquired a new stake in shares of Veeva Systems in the first quarter worth about $32,000. Finally, Itau Unibanco Holding S.A. lifted its position in shares of Veeva Systems by 389.2% in the fourth quarter. Itau Unibanco Holding S.A. now owns 181 shares of the technology company's stock worth $38,000 after buying an additional 144 shares during the last quarter. Institutional investors and hedge funds own 88.20% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on VEEV shares. Wall Street Zen raised Veeva Systems from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. Mizuho boosted their price target on Veeva Systems from $280.00 to $295.00 and gave the stock an "outperform" rating in a research report on Monday, June 2nd. Truist Financial lifted their price objective on Veeva Systems from $217.00 to $230.00 and gave the stock a "hold" rating in a research note on Thursday, May 29th. Needham & Company LLC lifted their price objective on Veeva Systems from $270.00 to $300.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Finally, Raymond James Financial lifted their price objective on Veeva Systems from $285.00 to $310.00 and gave the stock an "outperform" rating in a research note on Thursday, May 29th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, Veeva Systems currently has an average rating of "Moderate Buy" and a consensus target price of $271.04.

Insider Buying and Selling

In other news, SVP Jonathan Faddis sold 720 shares of the company's stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $285.62, for a total value of $205,646.40. Following the sale, the senior vice president directly owned 7,902 shares in the company, valued at approximately $2,256,969.24. This represents a 8.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Thomas D. Schwenger sold 1,200 shares of the company's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $220.97, for a total value of $265,164.00. Following the completion of the sale, the insider owned 25,889 shares in the company, valued at approximately $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. In the last 90 days, insiders have sold 2,578 shares of company stock valued at $659,381. 10.30% of the stock is currently owned by company insiders.

Veeva Systems Trading Down 2.1%

VEEV traded down $5.82 on Friday, hitting $275.82. 1,660,228 shares of the stock traded hands, compared to its average volume of 1,169,879. Veeva Systems Inc. has a 52 week low of $177.41 and a 52 week high of $291.69. The firm has a market capitalization of $45.07 billion, a PE ratio of 58.44, a P/E/G ratio of 2.23 and a beta of 0.98. The business has a fifty day moving average price of $265.32 and a two-hundred day moving average price of $238.97.

Veeva Systems (NYSE:VEEV - Get Free Report) last released its quarterly earnings data 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 return on equity of 13.96% and a net margin of 27.34%. The company had revenue of $759.04 million for the quarter, compared to analyst estimates of $728.38 million. During the same period in the prior year, the company posted $1.50 EPS. The company's revenue was up 16.7% compared to the same quarter last year. On average, equities research analysts forecast that Veeva Systems Inc. will post 4.35 EPS for the current fiscal 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.