Veeva Systems Inc. $VEEV Shares Purchased by Robeco Institutional Asset Management B.V.

Key Points

• Robeco Institutional Asset Management B.V. increased its stake in Veeva Systems by 75.3% during the 2nd quarter, owning approximately 0.46% of the company valued at $215.8 million.
• Analysts have set new price targets for Veeva Systems, with a consensus average target of $303.67 and most ratings leaning towards a "buy" position.
• Veeva Systems shares opened at $293.44, with a 1-year low of $200.30 and a high of $299.95, indicating strong market performance.

Robeco Institutional Asset Management B.V. boosted its position in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 75.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 749,418 shares of the technology company's stock after purchasing an additional 321,853 shares during the quarter. Robeco Institutional Asset Management B.V. owned about 0.46% of Veeva Systems worth $215,817,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. TFB Advisors LLC boosted its stake in shares of Veeva Systems by 1.2% during the 1st quarter. TFB Advisors LLC now owns 3,586 shares of the technology company's stock valued at $831,000 after buying an additional 44 shares during the last quarter. Triangle Securities Wealth Management boosted its stake in shares of Veeva Systems by 0.8% during the 2nd quarter. Triangle Securities Wealth Management now owns 5,782 shares of the technology company's stock valued at $1,665,000 after buying an additional 45 shares during the last quarter. Marks Group Wealth Management Inc boosted its stake in shares of Veeva Systems by 3.3% during the 1st quarter. Marks Group Wealth Management Inc now owns 1,427 shares of the technology company's stock valued at $331,000 after buying an additional 46 shares during the last quarter. Harbour Investments Inc. boosted its stake in shares of Veeva Systems by 7.6% during the 1st quarter. Harbour Investments Inc. now owns 789 shares of the technology company's stock valued at $183,000 after buying an additional 56 shares during the last quarter. Finally, Parallel Advisors LLC lifted its stake in Veeva Systems by 4.7% during the second quarter. Parallel Advisors LLC now owns 1,236 shares of the technology company's stock worth $356,000 after purchasing an additional 56 shares during the last quarter. Institutional investors and hedge funds own 88.20% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on VEEV shares. Oppenheimer restated an "outperform" rating and set a $325.00 price objective on shares of Veeva Systems in a research note on Thursday, August 28th. Truist Financial raised their price objective on Veeva Systems from $268.00 to $275.00 and gave the stock a "hold" rating in a research note on Thursday, August 28th. Needham & Company LLC raised their price objective on Veeva Systems from $300.00 to $355.00 and gave the stock a "buy" rating in a research note on Thursday, August 28th. Citigroup raised their price objective on Veeva Systems from $329.00 to $349.00 and gave the stock a "buy" rating in a research note on Thursday, August 28th. Finally, Piper Sandler raised their price objective on Veeva Systems from $325.00 to $355.00 and gave the stock an "overweight" rating in a research note on Thursday, August 28th. Sixteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $303.67.

Veeva Systems Price Performance

Shares of NYSE VEEV opened at $293.44 on Thursday. Veeva Systems Inc. has a 1-year low of $200.30 and a 1-year high of $299.95. The business's fifty day moving average price is $281.39 and its two-hundred day moving average price is $261.90. The firm has a market capitalization of $48.10 billion, a PE ratio of 60.26, a P/E/G ratio of 2.30 and a beta of 0.98.

Insider Buying and Selling at Veeva Systems

In other 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 transaction, the director directly owned 3,966 shares of the company's stock, valued at approximately $1,127,930.40. This trade represents a 4.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction, the senior vice president directly owned 7,902 shares in the company, valued at $2,256,969.24. This trade represents a 8.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.30% of the stock is owned by company insiders.

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.

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