J. Safra Sarasin Holding AG increased its stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 191.3% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 14,203 shares of the technology company's stock after purchasing an additional 9,328 shares during the period. J. Safra Sarasin Holding AG's holdings in Veeva Systems were worth $3,290,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the stock. Sowell Financial Services LLC purchased a new position in Veeva Systems during the first quarter valued at $274,000. Crossmark Global Holdings Inc. purchased a new position in Veeva Systems during the first quarter valued at $299,000. Janney Montgomery Scott LLC purchased a new position in Veeva Systems during the first quarter valued at $5,876,000. GAMMA Investing LLC raised its stake in Veeva Systems by 13.8% during the first quarter. GAMMA Investing LLC now owns 1,823 shares of the technology company's stock valued at $422,000 after buying an additional 221 shares during the last quarter. Finally, Private Trust Co. NA raised its stake in Veeva Systems by 35.0% during the first quarter. Private Trust Co. NA now owns 247 shares of the technology company's stock valued at $57,000 after buying an additional 64 shares during the last quarter. Hedge funds and other institutional investors own 88.20% of the company's stock.
Analysts Set New Price Targets
Several research firms have recently weighed in on VEEV. Stifel Nicolaus boosted their price target on Veeva Systems from $272.00 to $295.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. KeyCorp boosted their price target on Veeva Systems from $285.00 to $325.00 and gave the stock an "overweight" rating in a research note on Monday, July 14th. Piper Sandler boosted their price target on Veeva Systems from $255.00 to $325.00 and gave the stock an "overweight" rating in a research note on Thursday, May 29th. Morgan Stanley boosted their price target on Veeva Systems from $201.00 to $210.00 and gave the stock an "underweight" rating in a research note on Thursday, May 29th. Finally, Barclays boosted their price target on Veeva Systems from $285.00 to $300.00 and gave the stock an "overweight" rating in a research note on Thursday, May 29th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, Veeva Systems currently has an average rating of "Moderate Buy" and a consensus price target of $274.17.
Read Our Latest Research Report on Veeva Systems
Insider Activity at Veeva Systems
In other Veeva Systems news, 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 in the company, valued at $1,170,771. The trade was a 3.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Timothy S. Cabral sold 315 shares of the company's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $289.72, for a total transaction of $91,261.80. Following the completion of the sale, the director owned 5,500 shares in the company, valued at approximately $1,593,460. This trade represents a 5.42% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,378 shares of company stock worth $394,217. 10.30% of the stock is currently owned by corporate insiders.
Veeva Systems Stock Performance
VEEV stock opened at $281.05 on Friday. The stock has a market capitalization of $45.93 billion, a P/E ratio of 59.54, a PEG ratio of 2.23 and a beta of 0.95. Veeva Systems Inc. has a one year low of $177.41 and a one year high of $296.72. The company has a 50 day moving average price of $280.01 and a two-hundred day moving average price of $246.97.
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 for the quarter, beating analysts' consensus estimates of $1.74 by $0.23. The company had revenue of $759.04 million for the quarter, compared to analyst estimates of $728.38 million. Veeva Systems had a net margin of 27.34% and a return on equity of 13.96%. Veeva Systems's revenue for the quarter was up 16.7% on a year-over-year basis. During the same quarter last year, the business earned $1.50 EPS. Research analysts forecast that Veeva Systems Inc. will post 4.35 earnings per share for the current fiscal year.
About Veeva Systems
(
Free Report)
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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