Veeva Systems Inc. (NYSE:VEEV) Shares Acquired by Slow Capital Inc.

by · The Cerbat Gem

Slow Capital Inc. lifted its position in shares of Veeva Systems Inc. (NYSE:VEEV – Free Report) by 47.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,391 shares of the technology company’s stock after buying an additional 3,337 shares during the quarter. Slow Capital Inc.’s holdings in Veeva Systems were worth $2,114,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. UMB Bank n.a. grew its stake in Veeva Systems by 2.5% in the third quarter. UMB Bank n.a. now owns 2,103 shares of the technology company’s stock worth $428,000 after purchasing an additional 51 shares in the last quarter. Penserra Capital Management LLC increased its position in shares of Veeva Systems by 9.3% during the 4th quarter. Penserra Capital Management LLC now owns 729 shares of the technology company’s stock valued at $117,000 after purchasing an additional 62 shares during the period. Toroso Investments LLC raised its position in Veeva Systems by 4.9% in the third quarter. Toroso Investments LLC now owns 1,318 shares of the technology company’s stock worth $217,000 after acquiring an additional 62 shares in the last quarter. Forum Financial Management LP boosted its holdings in Veeva Systems by 6.6% during the first quarter. Forum Financial Management LP now owns 1,038 shares of the technology company’s stock worth $220,000 after buying an additional 64 shares in the last quarter. Finally, Covestor Ltd grew its holdings in shares of Veeva Systems by 9.1% in the 2nd quarter. Covestor Ltd now owns 790 shares of the technology company’s stock worth $156,000 after acquiring an additional 66 shares during the last quarter. Institutional investors and hedge funds own 80.07% of the company’s stock.

Insider Activity at Veeva Systems

In other news, EVP Alan Mateo sold 13,801 shares of the business’s stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $197.67, for a total value of $2,728,043.67. Following the sale, the executive vice president now directly owns 20,718 shares of the company’s stock, valued at approximately $4,095,327.06. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Alan Mateo sold 13,801 shares of the stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $197.67, for a total transaction of $2,728,043.67. Following the completion of the sale, the executive vice president now owns 20,718 shares in the company, valued at $4,095,327.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Matthew J. Wallach sold 5,000 shares of the firm’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $195.53, for a total transaction of $977,650.00. Following the transaction, the director now directly owns 118,735 shares of the company’s stock, valued at $23,216,254.55. The disclosure for this sale can be found here. Insiders have sold 57,351 shares of company stock worth $10,801,735 over the last 90 days. 10.98% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Piper Sandler restated an “overweight” rating and set a $200.00 price objective on shares of Veeva Systems in a research report on Thursday, December 7th. Canaccord Genuity Group cut their price objective on shares of Veeva Systems from $210.00 to $185.00 and set a “hold” rating for the company in a research report on Thursday, December 7th. JPMorgan Chase & Co. decreased their price target on shares of Veeva Systems from $188.00 to $183.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 29th. UBS Group upped their price objective on Veeva Systems from $175.00 to $205.00 and gave the company a “neutral” rating in a research note on Thursday, August 31st. Finally, The Goldman Sachs Group lowered their target price on Veeva Systems from $244.00 to $216.00 and set a “buy” rating for the company in a research note on Monday, November 13th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $214.14.

Check Out Our Latest Report on VEEV

Veeva Systems Stock Performance

Shares of VEEV stock traded up $0.72 on Friday, hitting $194.73. 197,184 shares of the company’s stock traded hands, compared to its average volume of 1,042,276. The stock has a market capitalization of $31.36 billion, a price-to-earnings ratio of 56.11, a P/E/G ratio of 2.76 and a beta of 0.79. The company’s fifty day simple moving average is $182.55 and its 200 day simple moving average is $195.31. Veeva Systems Inc. has a one year low of $157.00 and a one year high of $225.49.

Veeva Systems (NYSE:VEEV – Get Free Report) last issued its earnings results on Wednesday, December 6th. The technology company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.05. Veeva Systems had a net margin of 24.68% and a return on equity of 10.91%. The firm had revenue of $616.51 million for the quarter, compared to analysts’ expectations of $615.98 million. During the same quarter last year, the business earned $0.69 earnings per share. The business’s revenue was up 11.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Veeva Systems Inc. will post 2.81 earnings per share for the current fiscal year.

About Veeva Systems

(Free Report)

Veeva Systems Inc provides cloud-based software for the life sciences industry. It offers Veeva Commercial Cloud, a suite of software and data 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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