Veeva Systems Inc. (NYSE:VEEV) Shares Purchased by Bath Savings Trust Co

Bath Savings Trust Co boosted its stake in Veeva Systems Inc. (NYSE:VEEV) by 73.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,634 shares of the technology company’s stock after acquiring an additional 1,539 shares during the period. Bath Savings Trust Co’s holdings in Veeva Systems were worth $763,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Advisors Asset Management Inc. acquired a new position in Veeva Systems in the first quarter valued at approximately $28,000. Blue Trust Inc. increased its stake in Veeva Systems by 3,460.0% in the 2nd quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock worth $33,000 after purchasing an additional 173 shares in the last quarter. First Financial Corp IN acquired a new position in shares of Veeva Systems in the first quarter worth about $35,000. DT Investment Partners LLC purchased a new position in shares of Veeva Systems in the second quarter worth approximately $35,000. Finally, Larson Financial Group LLC raised its holdings in shares of Veeva Systems by 1,153.8% during the first quarter. Larson Financial Group LLC now owns 163 shares of the technology company’s stock valued at $38,000 after acquiring an additional 150 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.

Insider Buying and Selling at Veeva Systems

In other news, SVP Jonathan Faddis sold 2,353 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $200.00, for a total transaction of $470,600.00. Following the completion of the sale, the senior vice president now owns 9,035 shares of the company’s stock, valued at approximately $1,807,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 10.50% of the company’s stock.

Analysts Set New Price Targets

VEEV has been the topic of several research analyst reports. Truist Financial lifted their price objective on shares of Veeva Systems from $197.00 to $207.00 and gave the stock a “hold” rating in a research report on Tuesday, September 3rd. JPMorgan Chase & Co. raised their price target on shares of Veeva Systems from $203.00 to $208.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. Piper Sandler upped their price target 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. TD Cowen boosted their price target on Veeva Systems from $180.00 to $192.00 and gave the company a “hold” rating in a research note on Thursday, August 29th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $250.00 price target on shares of Veeva Systems 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 assigned a buy rating to the stock. According to data from MarketBeat.com, Veeva Systems has an average rating of “Moderate Buy” and an average price target of $230.65.

Veeva Systems Price Performance

NYSE VEEV opened at $201.83 on Tuesday. The company’s fifty day moving average is $203.71 and its two-hundred day moving average is $199.86. Veeva Systems Inc. has a 52-week low of $162.72 and a 52-week high of $236.90. The firm has a market capitalization of $32.63 billion, a price-to-earnings ratio of 59.54, a P/E/G ratio of 2.02 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, topping the consensus estimate of $1.04 by $0.03. The firm 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, sell-side analysts expect that Veeva Systems Inc. will post 4.21 earnings per share for the current fiscal year.

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.