Siemens Fonds Invest GmbH Boosts Holdings in Veeva Systems Inc. (NYSE:VEEV)

Siemens Fonds Invest GmbH raised its position in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 1,538.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 55,195 shares of the technology company's stock after buying an additional 51,826 shares during the quarter. Siemens Fonds Invest GmbH's holdings in Veeva Systems were worth $11,605,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Leigh Baldwin & CO. LLC bought a new stake in shares of Veeva Systems during the 4th quarter valued at approximately $685,355,000. Norges Bank bought a new stake in shares of Veeva Systems during the 4th quarter valued at approximately $294,785,000. JPMorgan Chase & Co. grew its holdings in shares of Veeva Systems by 73.2% during 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. Wealthfront Advisers LLC grew its holdings in shares of Veeva Systems by 29,760.5% during the 4th quarter. Wealthfront Advisers LLC now owns 1,048,700 shares of the technology company's stock valued at $220,489,000 after purchasing an additional 1,045,188 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Veeva Systems by 36.0% during the 4th quarter. Principal Financial Group Inc. now owns 2,964,025 shares of the technology company's stock valued at $623,186,000 after purchasing an additional 784,741 shares during the last quarter. 88.20% of the stock is owned by institutional investors.

Insider Activity

In other news, SVP Jonathan Faddis sold 787 shares of the stock in a transaction dated 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 owns 8,668 shares in the company, valued at $1,960,701.60. This represents a 8.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Timothy S. Cabral sold 3,882 shares of the stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $216.83, for a total transaction of $841,734.06. Following the completion of the sale, the director now 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 disclosure for this sale can be found here. Insiders sold a total of 5,869 shares of company stock worth $1,284,917 over the last quarter. Insiders own 10.30% of the company's stock.

Veeva Systems Trading Up 0.4%

NYSE VEEV traded up $0.99 on Friday, hitting $280.03. 3,578,987 shares of the company were exchanged, compared to its average volume of 1,147,282. The company has a market cap of $45.56 billion, a PE ratio of 69.14, a PEG ratio of 1.89 and a beta of 0.96. Veeva Systems Inc. has a 12 month low of $170.25 and a 12 month high of $285.70. The stock has a fifty day moving average of $230.48 and a 200-day moving average of $227.86.

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, topping the consensus estimate of $1.74 by $0.23. Veeva Systems had a net margin of 25.07% and a return on equity of 13.56%. The firm had revenue of $759.04 million for the quarter, compared to the consensus estimate of $728.38 million. During the same quarter in the prior year, the company posted $1.50 earnings per share. The business's revenue was up 16.7% on a year-over-year basis. On average, analysts expect that Veeva Systems Inc. will post 4.35 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Morgan Stanley lifted their price target on shares of Veeva Systems from $201.00 to $210.00 and gave the company an "underweight" rating in a report on Thursday. Citigroup lifted their target price on shares of Veeva Systems from $265.00 to $329.00 and gave the stock a "buy" rating in a research report on Friday. Piper Sandler lifted their target price on shares of Veeva Systems from $255.00 to $325.00 and gave the stock an "overweight" rating in a research report on Thursday. Truist Financial lifted their target price on shares of Veeva Systems from $217.00 to $230.00 and gave the stock a "hold" rating in a research report on Thursday. Finally, Robert W. Baird lifted their target price on shares of Veeva Systems from $283.00 to $285.00 and gave the stock an "outperform" rating in a research report on Thursday, March 6th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $269.00.

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.