Banco Bilbao Vizcaya Argentaria S.A. Has $7.89 Million Stock Position in Veeva Systems Inc. $VEEV

Key Points

• Banco Bilbao Vizcaya Argentaria S.A. increased its stake in Veeva Systems by 18.2%, owning 34,064 shares valued at approximately $7.89 million.
• Veeva Systems reported $1.97 earnings per share for the last quarter, exceeding analyst expectations and showing a 16.7% year-over-year revenue growth.
• Several analysts have raised their price targets for Veeva Systems, with a consensus target of $274.17, reflecting an overall rating of "Moderate Buy."

Banco Bilbao Vizcaya Argentaria S.A. raised its holdings in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 18.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 34,064 shares of the technology company's stock after buying an additional 5,256 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in Veeva Systems were worth $7,886,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in VEEV. GeoWealth Management LLC lifted its position in Veeva Systems by 11.0% during the 4th quarter. GeoWealth Management LLC now owns 1,022 shares of the technology company's stock worth $215,000 after buying an additional 101 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Veeva Systems by 8.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 473,154 shares of the technology company's stock worth $99,490,000 after buying an additional 35,348 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its position in shares of Veeva Systems by 78.4% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 6,985 shares of the technology company's stock worth $1,469,000 after purchasing an additional 3,070 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its position in shares of Veeva Systems by 6.9% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 28,664 shares of the technology company's stock worth $6,027,000 after purchasing an additional 1,844 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its position in shares of Veeva Systems by 81.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,037 shares of the technology company's stock worth $428,000 after purchasing an additional 916 shares during the last quarter. 88.20% of the stock is owned by institutional investors.

Veeva Systems Stock Performance

VEEV traded up $8.75 during trading hours on Friday, reaching $291.03. The company's stock had a trading volume of 961,444 shares, compared to its average volume of 1,080,466. Veeva Systems Inc. has a 52 week low of $196.10 and a 52 week high of $296.72. The company's 50-day moving average is $282.35 and its 200-day moving average is $252.59. The firm has a market cap of $47.56 billion, a PE ratio of 61.66, a price-to-earnings-growth ratio of 2.30 and a beta of 0.95.

Veeva Systems (NYSE:VEEV - Get Free Report) last posted 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. Veeva Systems had a return on equity of 13.96% and a net margin of 27.34%.The business had revenue of $759.04 million for the quarter, compared to analysts' expectations of $728.38 million. During the same quarter in the prior year, the business earned $1.50 EPS. The firm's revenue for the quarter was up 16.7% on a year-over-year basis. Equities analysts anticipate that Veeva Systems Inc. will post 4.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. KeyCorp boosted their price target on Veeva Systems from $285.00 to $325.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. Citigroup boosted their price target on Veeva Systems from $265.00 to $329.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. UBS Group boosted their price target on Veeva Systems from $250.00 to $285.00 and gave the stock a "neutral" rating in a research report on Thursday, May 29th. Needham & Company LLC boosted their price target on Veeva Systems from $270.00 to $300.00 and gave the stock a "buy" rating in a research report 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 report on Thursday, May 29th. Fourteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $274.17.

Insiders Place Their Bets

In other Veeva Systems news, Director Priscilla Hung sold 172 shares of the stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $283.00, for a total transaction of $48,676.00. Following the transaction, the director owned 4,137 shares in the company, valued at $1,170,771. This trade represents a 3.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Timothy S. Cabral sold 315 shares of the stock in a transaction 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 transaction, the director owned 5,500 shares in the company, valued at $1,593,460. The trade was a 5.42% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,378 shares of company stock worth $394,217 in the last 90 days. Company insiders own 10.30% of the company's stock.

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.