Ownership Capital B.V. Has $159.52 Million Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Ownership Capital B.V. lowered its holdings in Veeva Systems Inc. (NYSE:VEEV) by 17.6% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 760,106 shares of the technology company’s stock after selling 162,600 shares during the period. Veeva Systems comprises about 5.1% of Ownership Capital B.V.’s investment portfolio, making the stock its 8th biggest holding. Ownership Capital B.V.’s holdings in Veeva Systems were worth $159,523,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of VEEV. Norden Group LLC acquired a new stake in shares of Veeva Systems in the 1st quarter worth about $304,000. Empowered Funds LLC acquired a new stake in shares of Veeva Systems in the first quarter valued at approximately $1,083,000. Forsta AP Fonden raised its holdings in shares of Veeva Systems by 13.5% during the first quarter. Forsta AP Fonden now owns 31,900 shares of the technology company’s stock valued at $7,391,000 after buying an additional 3,800 shares during the last quarter. Atomi Financial Group Inc. boosted its position in shares of Veeva Systems by 123.3% during the first quarter. Atomi Financial Group Inc. now owns 2,646 shares of the technology company’s stock worth $613,000 after buying an additional 1,461 shares during the period. Finally, Concurrent Investment Advisors LLC bought a new position in Veeva Systems in the 1st quarter worth approximately $228,000. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

VEEV has been the topic of several recent analyst reports. Truist Financial lifted their target price on Veeva Systems from $197.00 to $207.00 and gave the company a “hold” rating in a research note on Tuesday, September 3rd. Royal Bank of Canada lifted their price objective on shares of Veeva Systems from $250.00 to $275.00 and gave the company an “outperform” rating in a research note on Friday. Barclays upped their price objective on shares of Veeva Systems from $240.00 to $260.00 and gave the stock an “overweight” rating in a report on Friday. StockNews.com raised shares of Veeva Systems from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 price target on shares of Veeva Systems in a research note on Friday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Veeva Systems currently has a consensus rating of “Moderate Buy” and an average price target of $237.00.

Insiders Place Their Bets

In other news, SVP Jonathan Faddis sold 2,353 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $200.00, for a total value of $470,600.00. Following the transaction, the senior vice president now owns 9,035 shares in the company, valued at $1,807,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 10.50% of the company’s stock.

Veeva Systems Price Performance

Veeva Systems stock opened at $235.00 on Friday. Veeva Systems Inc. has a fifty-two week low of $162.72 and a fifty-two week high of $240.68. The firm’s 50 day simple moving average is $213.98 and its 200-day simple moving average is $199.75. The company has a market cap of $38.05 billion, a P/E ratio of 62.67, a price-to-earnings-growth ratio of 2.29 and a beta of 0.81.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings data on Wednesday, August 28th. The technology company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.03. The firm had revenue of $676.18 million for the quarter, compared to analysts’ expectations of $667.21 million. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. On average, analysts expect that Veeva Systems Inc. will post 4.21 EPS for the current fiscal year.

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.