Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc trimmed its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 4.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 61,977 shares of the technology company’s stock after selling 2,591 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Veeva Systems were worth $11,342,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Advisors Asset Management Inc. purchased a new stake in Veeva Systems during the 1st quarter worth approximately $28,000. DSM Capital Partners LLC purchased a new stake in shares of Veeva Systems during the fourth quarter worth $29,000. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Veeva Systems in the fourth quarter valued at $32,000. Blue Trust Inc. boosted its holdings in Veeva Systems by 3,460.0% in the second quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock valued at $33,000 after purchasing an additional 173 shares during the period. Finally, First Financial Corp IN acquired a new position in Veeva Systems during the 1st quarter worth $35,000. 88.20% of the stock is owned by institutional investors and hedge funds.

Veeva Systems Stock Performance

Shares of NYSE:VEEV opened at $211.04 on Tuesday. Veeva Systems Inc. has a one year low of $162.72 and a one year high of $236.90. The stock has a market capitalization of $34.12 billion, a price-to-earnings ratio of 62.25, a PEG ratio of 2.12 and a beta of 0.81. The company has a 50-day simple moving average of $199.76 and a 200-day simple moving average of $201.29.

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 analysts’ consensus estimates of $1.04 by $0.03. The company had revenue of $676.18 million during the quarter, compared to analysts’ expectations of $667.21 million. Veeva Systems had a return on equity of 13.30% and a net margin of 23.91%. As a group, research analysts forecast that Veeva Systems Inc. will post 4.2 EPS for the current fiscal year.

Insider Activity at Veeva Systems

In other news, SVP Jonathan Faddis sold 2,353 shares of Veeva Systems stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $200.00, for a total value of $470,600.00. Following the sale, the senior vice president now owns 9,035 shares of the company’s stock, valued at $1,807,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 10.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Barclays increased their price target on Veeva Systems from $220.00 to $240.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. JPMorgan Chase & Co. lifted their price target on shares of Veeva Systems from $203.00 to $208.00 and gave the stock a “neutral” rating in a research note on Monday, September 9th. Needham & Company LLC reiterated a “buy” rating and set a $260.00 price target on shares of Veeva Systems in a report on Thursday, August 29th. 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 report on Friday, May 31st. Finally, Bank of America increased their target price on Veeva Systems from $204.00 to $240.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, Veeva Systems currently has a consensus rating of “Moderate Buy” and an average target price of $229.96.

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.