Seilern Investment Management Ltd Has $97.23 Million Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Seilern Investment Management Ltd trimmed its position in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 7.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 419,758 shares of the technology company's stock after selling 31,880 shares during the quarter. Veeva Systems accounts for 6.4% of Seilern Investment Management Ltd's portfolio, making the stock its 7th largest position. Seilern Investment Management Ltd owned about 0.26% of Veeva Systems worth $97,229,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Venturi Wealth Management LLC grew its holdings in shares of Veeva Systems by 2,716.7% in the 4th quarter. Venturi Wealth Management LLC now owns 169 shares of the technology company's stock worth $36,000 after purchasing an additional 163 shares during the last quarter. Linonia Partnership LP increased its stake in shares of Veeva Systems by 42.1% in the 4th quarter. Linonia Partnership LP now owns 1,202,972 shares of the technology company's stock valued at $252,925,000 after buying an additional 356,300 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Veeva Systems by 73.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company's stock valued at $536,972,000 after purchasing an additional 1,081,501 shares during the last quarter. VSM Wealth Advisory LLC acquired a new stake in Veeva Systems during the 4th quarter worth $42,000. Finally, Amundi increased its holdings in Veeva Systems by 9.8% in the fourth quarter. Amundi now owns 459,044 shares of the technology company's stock valued at $99,750,000 after purchasing an additional 40,884 shares during the last quarter. 88.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on VEEV shares. Scotiabank increased their target price on shares of Veeva Systems from $240.00 to $245.00 and gave the stock a "sector perform" rating in a report on Thursday, March 6th. Stephens reissued an "overweight" rating and set a $280.00 target price on shares of Veeva Systems in a research note on Thursday, March 6th. Citigroup lifted their price target on shares of Veeva Systems from $265.00 to $329.00 and gave the company a "buy" rating in a research note on Friday, May 30th. Piper Sandler increased their price objective on shares of Veeva Systems from $255.00 to $325.00 and gave the stock an "overweight" rating in a research report on Thursday, May 29th. Finally, Truist Financial boosted 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. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $269.80.

Insiders Place Their Bets

In related news, Director Timothy S. Cabral sold 3,882 shares of the company's stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $216.83, for a total transaction of $841,734.06. Following the transaction, the director now directly owns 5,500 shares of the company's stock, valued at approximately $1,192,565. This represents a 41.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jonathan Faddis sold 787 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $226.20, for a total value of $178,019.40. Following the completion of the sale, the senior vice president now directly owns 8,668 shares of the company's stock, valued at $1,960,701.60. This trade represents a 8.32% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,184 shares of company stock worth $1,376,179. 10.30% of the stock is currently owned by company insiders.

Veeva Systems Price Performance

Shares of Veeva Systems stock traded up $4.63 during midday trading on Wednesday, reaching $288.76. The company had a trading volume of 1,356,921 shares, compared to its average volume of 1,141,130. The firm has a market cap of $46.98 billion, a PE ratio of 71.30, a P/E/G ratio of 1.89 and a beta of 0.99. The stock has a fifty day moving average price of $237.95 and a 200 day moving average price of $231.16. Veeva Systems Inc. has a fifty-two week low of $176.41 and a fifty-two week high of $291.68.

Veeva Systems (NYSE:VEEV - Get Free Report) last released its earnings results on Wednesday, May 28th. The technology company reported $1.97 EPS for the quarter, topping the consensus estimate of $1.74 by $0.23. Veeva Systems had a return on equity of 13.56% and a net margin of 25.07%. The business had revenue of $759.04 million during the quarter, compared to analysts' expectations of $728.38 million. During the same quarter last year, the firm posted $1.50 earnings per share. The firm's revenue was up 16.7% on a year-over-year basis. As a group, sell-side analysts forecast that Veeva Systems Inc. will post 4.35 EPS for the current year.

Veeva Systems Company 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.