Thomasville National Bank Acquires 1,625 Shares of Veeva Systems Inc. (NYSE:VEEV)

Thomasville National Bank boosted its stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 2.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 84,586 shares of the technology company's stock after buying an additional 1,625 shares during the period. Veeva Systems comprises 1.4% of Thomasville National Bank's investment portfolio, making the stock its 25th largest holding. Thomasville National Bank owned about 0.05% of Veeva Systems worth $19,593,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Centricity Wealth Management LLC acquired a new stake in Veeva Systems during the 4th quarter worth about $25,000. Smithfield Trust Co raised its holdings in Veeva Systems by 145.5% during the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company's stock worth $27,000 after buying an additional 80 shares during the period. Avion Wealth raised its holdings in Veeva Systems by 635.0% during the 4th quarter. Avion Wealth now owns 147 shares of the technology company's stock worth $30,000 after buying an additional 127 shares during the period. Venturi Wealth Management LLC raised its holdings in Veeva Systems by 2,716.7% during the 4th quarter. Venturi Wealth Management LLC now owns 169 shares of the technology company's stock worth $36,000 after buying an additional 163 shares during the period. Finally, Promus Capital LLC acquired a new position in shares of Veeva Systems in the 4th quarter valued at about $36,000. Institutional investors and hedge funds own 88.20% of the company's stock.

Insiders Place Their Bets

In other news, Director Timothy S. Cabral sold 315 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $289.72, for a total value of $91,261.80. Following the completion of the sale, the director now directly owns 5,500 shares of the company's stock, valued at approximately $1,593,460. This represents a 5.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jonathan Faddis sold 787 shares of the 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 represents a 8.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,184 shares of company stock valued at $1,376,179 over the last 90 days. 10.30% of the stock is currently owned by company insiders.

Veeva Systems Trading Down 0.1%

Veeva Systems stock traded down $0.34 during trading hours on Friday, reaching $281.82. 1,268,625 shares of the company were exchanged, compared to its average volume of 1,146,603. The firm has a market cap of $45.85 billion, a price-to-earnings ratio of 69.59, a PEG ratio of 1.89 and a beta of 0.99. The stock has a 50-day moving average of $242.24 and a 200 day moving average of $232.35. Veeva Systems Inc. has a 12 month low of $176.41 and a 12 month high of $291.69.

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

Analysts Set New Price Targets

VEEV has been the topic of a number of research reports. Barclays upped their target price on Veeva Systems from $285.00 to $300.00 and gave the company an "overweight" rating in a report on Thursday, May 29th. Stephens reiterated an "overweight" rating and issued a $280.00 target price on shares of Veeva Systems in a report on Thursday, March 6th. UBS Group upped their target price on Veeva Systems from $250.00 to $285.00 and gave the company a "neutral" rating in a report on Thursday, May 29th. Citigroup upped their target price on Veeva Systems from $265.00 to $329.00 and gave the company a "buy" rating in a report on Friday, May 30th. Finally, Piper Sandler upped their target price on Veeva Systems from $255.00 to $325.00 and gave the company an "overweight" rating in a report on Thursday, May 29th. Two equities research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $269.80.

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.