Veeva Systems Inc. $VEEV Shares Sold by Union Bancaire Privee UBP SA

Key Points

• Union Bancaire Privee UBP SA reduced its holdings in Veeva Systems by 13.7%, selling 2,256 shares and now owning 14,167 shares valued at approximately $4.08 million.
• Veeva Systems experienced notable increases in stock holdings from several institutional investors, including Vanguard Group Inc. and Alliancebernstein L.P., indicating strong institutional interest in the company.
• Veeva's stock has a current market cap of $48.05 billion, with analysts providing a consensus rating of "Moderate Buy" and an average target price of $301.48.

Union Bancaire Privee UBP SA cut its position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 13.7% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,167 shares of the technology company's stock after selling 2,256 shares during the quarter. Union Bancaire Privee UBP SA's holdings in Veeva Systems were worth $4,080,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Veeva Systems by 2.2% during the first quarter. Vanguard Group Inc. now owns 14,760,566 shares of the technology company's stock worth $3,418,990,000 after purchasing an additional 315,421 shares during the last quarter. Alliancebernstein L.P. raised its holdings in Veeva Systems by 10.7% during the first quarter. Alliancebernstein L.P. now owns 5,499,651 shares of the technology company's stock worth $1,273,884,000 after purchasing an additional 532,269 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in Veeva Systems by 0.7% during the first quarter. T. Rowe Price Investment Management Inc. now owns 5,203,867 shares of the technology company's stock worth $1,205,372,000 after purchasing an additional 34,169 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Veeva Systems by 20.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,992,372 shares of the technology company's stock worth $924,754,000 after purchasing an additional 689,700 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Veeva Systems by 7.5% in the first quarter. JPMorgan Chase & Co. now owns 3,230,758 shares of the technology company's stock worth $748,341,000 after acquiring an additional 225,125 shares during the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Veeva Systems

In other Veeva Systems news, Director Priscilla Hung sold 171 shares of the business's stock in a transaction dated 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 approximately $1,127,930.40. The trade was a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jonathan Faddis sold 720 shares of the business's stock in a transaction dated 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 approximately $2,256,969.24. This trade represents a 8.35% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,063 shares of company stock valued at $302,955. 10.30% of the stock is owned by company insiders.

Veeva Systems Stock Up 1.0%

Shares of NYSE:VEEV opened at $293.15 on Tuesday. The company has a market cap of $48.05 billion, a P/E ratio of 60.19, a P/E/G ratio of 2.24 and a beta of 0.95. Veeva Systems Inc. has a 52 week low of $200.30 and a 52 week high of $296.72. The business has a fifty day simple moving average of $280.99 and a 200-day simple moving average of $261.43.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on VEEV shares. Truist Financial boosted their price target on Veeva Systems from $268.00 to $275.00 and gave the stock a "hold" rating in a report on Thursday, August 28th. Evercore ISI boosted their price target on Veeva Systems from $285.00 to $295.00 and gave the stock an "in-line" rating in a report on Thursday, August 28th. Raymond James Financial reissued an "outperform" rating and issued a $340.00 price target (up from $310.00) on shares of Veeva Systems in a report on Thursday, August 28th. Barclays boosted their price target on Veeva Systems from $300.00 to $325.00 and gave the stock an "overweight" rating in a report on Thursday, August 28th. Finally, Canaccord Genuity Group boosted their price target on Veeva Systems from $270.00 to $300.00 and gave the stock a "hold" rating in a report on Thursday, August 28th. Seventeen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Veeva Systems presently has a consensus rating of "Moderate Buy" and an average target price of $301.48.

Veeva Systems Company 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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