Veeva Systems Inc. (NYSE:VEEV) Stock Position Lessened by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. trimmed its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 2.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 58,600 shares of the technology company’s stock after selling 1,500 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Veeva Systems were worth $12,298,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Patriot Financial Group Insurance Agency LLC boosted its stake in Veeva Systems by 0.7% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 6,924 shares of the technology company’s stock valued at $1,453,000 after purchasing an additional 48 shares in the last quarter. Clearbridge Investments LLC boosted its stake in Veeva Systems by 0.4% during the second quarter. Clearbridge Investments LLC now owns 11,682 shares of the technology company’s stock valued at $2,138,000 after buying an additional 52 shares in the last quarter. Western Pacific Wealth Management LP boosted its stake in Veeva Systems by 23.3% during the first quarter. Western Pacific Wealth Management LP now owns 307 shares of the technology company’s stock valued at $71,000 after buying an additional 58 shares in the last quarter. Park Place Capital Corp raised its position in Veeva Systems by 11.5% in the third quarter. Park Place Capital Corp now owns 574 shares of the technology company’s stock worth $120,000 after acquiring an additional 59 shares in the last quarter. Finally, Shepherd Financial Partners LLC lifted its holdings in Veeva Systems by 1.7% in the 3rd quarter. Shepherd Financial Partners LLC now owns 3,752 shares of the technology company’s stock valued at $787,000 after acquiring an additional 62 shares during the last quarter. 88.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on VEEV shares. BTIG Research started coverage on shares of Veeva Systems in a research note on Tuesday, July 9th. They issued a “buy” rating and a $240.00 price objective on the stock. Piper Sandler lifted their price objective on shares of Veeva Systems from $225.00 to $230.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 price objective on shares of Veeva Systems in a research note on Thursday, August 29th. UBS Group lifted their target price on shares of Veeva Systems from $185.00 to $215.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Finally, BNP Paribas started coverage on shares of Veeva Systems in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $286.00 target price on the stock. One analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $232.87.

Veeva Systems Stock Performance

Shares of NYSE:VEEV opened at $212.64 on Wednesday. Veeva Systems Inc. has a 52 week low of $162.72 and a 52 week high of $236.90. The company’s fifty day moving average is $213.14 and its 200-day moving average is $199.22. The company has a market capitalization of $34.43 billion, a PE ratio of 56.70, a P/E/G ratio of 2.07 and a beta of 0.81.

Veeva Systems (NYSE:VEEV) last issued its earnings results on Wednesday, August 28th. The technology company reported $1.07 EPS for the quarter, beating the consensus estimate of $1.04 by $0.03. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. The company had revenue of $676.18 million for the quarter, compared to the consensus estimate of $667.21 million. On average, analysts forecast that Veeva Systems Inc. will post 4.21 EPS for the current year.

Insider Buying and Selling

In related news, SVP Jonathan Faddis sold 2,353 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $200.00, for a total transaction 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 filing with the Securities & Exchange Commission, which is available at the SEC website. 10.50% of the stock is owned by corporate insiders.

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.