Bank Julius Baer & Co. Ltd Zurich Sells 9,009 Shares of Veeva Systems Inc. (NYSE:VEEV)

Bank Julius Baer & Co. Ltd Zurich lowered its position in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 8.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 92,388 shares of the technology company's stock after selling 9,009 shares during the period. Bank Julius Baer & Co. Ltd Zurich owned about 0.06% of Veeva Systems worth $17,787,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Sequoia Financial Advisors LLC boosted its holdings in shares of Veeva Systems by 703.8% during the 4th quarter. Sequoia Financial Advisors LLC now owns 15,594 shares of the technology company's stock valued at $3,002,000 after purchasing an additional 13,654 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of Veeva Systems by 5.2% during the 4th quarter. Nordea Investment Management AB now owns 163,247 shares of the technology company's stock valued at $31,730,000 after purchasing an additional 8,007 shares during the last quarter. ICICI Prudential Asset Management Co Ltd boosted its holdings in shares of Veeva Systems by 13.1% during the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 49,140 shares of the technology company's stock valued at $9,460,000 after purchasing an additional 5,674 shares during the last quarter. Lecap Asset Management Ltd. bought a new position in shares of Veeva Systems during the 4th quarter valued at about $2,668,000. Finally, DekaBank Deutsche Girozentrale boosted its holdings in shares of Veeva Systems by 26.3% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 98,377 shares of the technology company's stock valued at $18,953,000 after purchasing an additional 20,488 shares during the last quarter. Institutional investors own 88.20% of the company's stock.

Veeva Systems Stock Performance

VEEV traded up $1.82 during trading on Friday, hitting $200.91. The stock had a trading volume of 756,180 shares, compared to its average volume of 969,921. The company has a market capitalization of $32.41 billion, a PE ratio of 61.83, a PEG ratio of 2.03 and a beta of 0.74. Veeva Systems Inc. has a twelve month low of $160.21 and a twelve month high of $236.90. The stock has a 50 day simple moving average of $219.63 and a two-hundred day simple moving average of $202.71.

Veeva Systems (NYSE:VEEV - Get Free Report) last announced its earnings results on Thursday, February 29th. The technology company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.11. The company had revenue of $630.62 million during the quarter, compared to the consensus estimate of $620.75 million. Veeva Systems had a net margin of 22.24% and a return on equity of 11.26%. On average, equities research analysts anticipate that Veeva Systems Inc. will post 4.11 EPS for the current year.

Insiders Place Their Bets

In other Veeva Systems news, EVP Alan Mateo sold 3,391 shares of the firm's stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $200.86, for a total value of $681,116.26. Following the completion of the transaction, the executive vice president now owns 21,983 shares of the company's stock, valued at $4,415,505.38. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Veeva Systems news, EVP Alan Mateo sold 3,391 shares of the firm's stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $200.86, for a total value of $681,116.26. Following the completion of the transaction, the executive vice president now owns 21,983 shares of the company's stock, valued at $4,415,505.38. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Timothy S. Cabral sold 15,000 shares of the firm's stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $226.04, for a total transaction of $3,390,600.00. Following the transaction, the director now directly owns 23,391 shares of the company's stock, valued at approximately $5,287,301.64. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,989 shares of company stock valued at $4,818,013. Insiders own 10.98% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on VEEV shares. UBS Group increased their price objective on shares of Veeva Systems from $185.00 to $235.00 and gave the company a "neutral" rating in a report on Monday, February 26th. StockNews.com upgraded shares of Veeva Systems from a "hold" rating to a "buy" rating in a research report on Friday, April 12th. Piper Sandler upped their target price on shares of Veeva Systems from $220.00 to $245.00 and gave the company an "overweight" rating in a research report on Friday, March 1st. Robert W. Baird upped their target price on shares of Veeva Systems from $245.00 to $251.00 and gave the company an "outperform" rating in a research report on Friday, March 1st. Finally, Jefferies Financial Group upped their target price on shares of Veeva Systems from $225.00 to $270.00 and gave the company a "buy" rating in a research report on Monday, March 4th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, Veeva Systems has a consensus rating of "Moderate Buy" and an average target price of $234.90.

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.

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