Diversified Trust Co Buys 3,988 Shares of Veeva Systems Inc. (NYSE:VEEV)

Diversified Trust Co grew its stake in Veeva Systems Inc. (NYSE:VEEV) by 43.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,210 shares of the technology company’s stock after purchasing an additional 3,988 shares during the quarter. Diversified Trust Co’s holdings in Veeva Systems were worth $3,061,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of VEEV. Linscomb & Williams Inc. bought a new position in Veeva Systems during the fourth quarter worth about $1,479,000. Robeco Institutional Asset Management B.V. increased its position in Veeva Systems by 32.7% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 206,220 shares of the technology company’s stock worth $365,000 after acquiring an additional 50,868 shares during the period. Sequoia Financial Advisors LLC increased its position in Veeva Systems by 703.8% during the fourth quarter. Sequoia Financial Advisors LLC now owns 15,594 shares of the technology company’s stock worth $3,002,000 after acquiring an additional 13,654 shares during the period. Nordea Investment Management AB increased its position in Veeva Systems by 5.2% during the fourth quarter. Nordea Investment Management AB now owns 163,247 shares of the technology company’s stock worth $31,730,000 after acquiring an additional 8,007 shares during the period. Finally, APG Asset Management US Inc. bought a new position in Veeva Systems during the fourth quarter worth about $5,756,000. 88.20% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Canaccord Genuity Group lowered their price target on shares of Veeva Systems from $220.00 to $210.00 and set a “hold” rating on the stock in a research report on Friday, May 31st. Evercore ISI lowered their price target on shares of Veeva Systems from $230.00 to $200.00 and set an “in-line” rating on the stock in a research report on Friday, May 31st. Morgan Stanley reduced their price objective on shares of Veeva Systems from $210.00 to $173.00 and set an “underweight” rating on the stock in a research note on Friday, May 31st. Jefferies Financial Group increased their price objective on shares of Veeva Systems from $225.00 to $270.00 and gave the stock a “buy” rating in a research note on Monday, March 4th. Finally, Truist Financial reduced their price objective on shares of Veeva Systems from $203.00 to $197.00 and set a “hold” rating on the stock in a research note on Friday, June 14th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $227.95.

Veeva Systems Price Performance

NYSE:VEEV opened at $181.53 on Tuesday. The firm’s 50 day simple moving average is $194.68 and its 200 day simple moving average is $205.28. Veeva Systems Inc. has a one year low of $162.72 and a one year high of $236.90. The company has a market cap of $29.34 billion, a PE ratio of 53.55, a P/E/G ratio of 1.79 and a beta of 0.80.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings results on Thursday, May 30th. The technology company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.10. Veeva Systems had a net margin of 22.34% and a return on equity of 12.74%. The firm had revenue of $650.35 million during the quarter, compared to analyst estimates of $641.73 million. Equities research analysts expect that Veeva Systems Inc. will post 4.19 EPS for the current year.

Insiders Place Their Bets

In other Veeva Systems news, CFO Timothy S. Cabral sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $184.33, for a total transaction of $2,764,950.00. Following the completion of the transaction, the chief financial officer now owns 8,391 shares in the company, valued at approximately $1,546,713.03. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, SVP Jonathan Faddis sold 3,598 shares of Veeva Systems stock in a transaction on Monday, April 15th. The shares were sold at an average price of $207.42, for a total value of $746,297.16. Following the completion of the sale, the senior vice president now owns 10,668 shares in the company, valued at approximately $2,212,756.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Timothy S. Cabral sold 15,000 shares of Veeva Systems stock in a transaction on Friday, June 7th. The shares were sold at an average price of $184.33, for a total transaction of $2,764,950.00. Following the completion of the sale, the chief financial officer now owns 8,391 shares of the company’s stock, valued at approximately $1,546,713.03. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,989 shares of company stock worth $4,192,363. 10.50% of the stock is currently owned by insiders.

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.