Swedbank AB Has $299.10 Million Stock Holdings in Veeva Systems Inc. $VEEV

Key Points

• Swedbank AB increased its holdings in Veeva Systems by 0.7%, now owning 1,038,617 shares valued at approximately $299.1 million.
• Veeva Systems has received positive analyst ratings, with significant price target increases from firms like Evercore ISI, BTIG Research, and Wells Fargo, reflecting a consensus forecast of a "Moderate Buy."
• Insider transactions included sold shares by SVP Jonathan Faddis and Director Priscilla Hung, indicating a slight decrease in their ownership stakes.

Swedbank AB raised its stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 0.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,038,617 shares of the technology company's stock after buying an additional 6,788 shares during the period. Swedbank AB owned approximately 0.64% of Veeva Systems worth $299,101,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Sowell Financial Services LLC acquired a new position in shares of Veeva Systems in the 1st quarter worth approximately $274,000. Crossmark Global Holdings Inc. acquired a new stake in shares of Veeva Systems during the first quarter worth approximately $299,000. Janney Montgomery Scott LLC acquired a new stake in Veeva Systems in the first quarter valued at approximately $5,876,000. GAMMA Investing LLC lifted its stake in Veeva Systems by 13.8% in the first quarter. GAMMA Investing LLC now owns 1,823 shares of the technology company's stock valued at $422,000 after acquiring an additional 221 shares during the last quarter. Finally, Private Trust Co. NA lifted its stake in Veeva Systems by 35.0% in the first quarter. Private Trust Co. NA now owns 247 shares of the technology company's stock valued at $57,000 after acquiring an additional 64 shares during the last quarter. Institutional investors and hedge funds own 88.20% of the company's stock.

Insider Activity at Veeva Systems

In other Veeva Systems news, Director Priscilla Hung sold 171 shares of the firm's stock in a transaction on Monday, July 7th. The stock was sold at an average price of $284.40, for a total transaction of $48,632.40. Following the completion of the sale, the director owned 3,966 shares of the company's stock, valued at $1,127,930.40. This trade represents a 4.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Jonathan Faddis sold 720 shares of the firm's stock in a transaction on Thursday, July 10th. The shares were 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 of the company's stock, valued at $2,256,969.24. This represents a 8.35% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,063 shares of company stock valued at $302,955. 10.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

VEEV has been the topic of a number of recent analyst reports. BTIG Research lifted their price target on shares of Veeva Systems from $335.00 to $340.00 and gave the company a "buy" rating in a research report on Thursday, August 28th. Wells Fargo & Company boosted their price target on shares of Veeva Systems from $300.00 to $326.00 and gave the company an "overweight" rating in a report on Tuesday, August 26th. Needham & Company LLC boosted their target price on shares of Veeva Systems from $300.00 to $355.00 and gave the company a "buy" rating in a research note on Thursday, August 28th. Citigroup upped their price target on shares of Veeva Systems from $329.00 to $349.00 and gave the stock a "buy" rating in a research report on Thursday, August 28th. Finally, Truist Financial upped their price target on shares of Veeva Systems from $268.00 to $275.00 and gave the stock a "hold" rating in a research report on Thursday, August 28th. Seventeen analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $301.48.

Veeva Systems Stock Up 0.4%

Shares of NYSE VEEV traded up $1.07 during trading hours on Monday, hitting $278.86. The company had a trading volume of 337,490 shares, compared to its average volume of 1,326,897. The stock has a market capitalization of $45.71 billion, a P/E ratio of 57.26, a price-to-earnings-growth ratio of 2.15 and a beta of 0.95. Veeva Systems Inc. has a 1-year low of $200.30 and a 1-year high of $296.72. The firm's 50 day moving average is $280.65 and its 200-day moving average is $259.41.

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.