Mutual of America Capital Management LLC Has $720,000 Holdings in Veeva Systems Inc. (NYSE:VEEV)

Mutual of America Capital Management LLC boosted its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 51.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,432 shares of the technology company’s stock after acquiring an additional 1,163 shares during the period. Mutual of America Capital Management LLC’s holdings in Veeva Systems were worth $720,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of VEEV. Principal Financial Group Inc. increased its position in shares of Veeva Systems by 138.9% during the third quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock valued at $457,366,000 after purchasing an additional 1,267,061 shares during the period. Van ECK Associates Corp boosted its stake in Veeva Systems by 3.7% during the third quarter. Van ECK Associates Corp now owns 1,995,006 shares of the technology company’s stock worth $434,372,000 after buying an additional 71,525 shares in the last quarter. Swedbank AB increased its holdings in Veeva Systems by 4.9% in the 2nd quarter. Swedbank AB now owns 1,031,064 shares of the technology company’s stock valued at $188,695,000 after buying an additional 48,402 shares during the period. Federated Hermes Inc. raised its stake in shares of Veeva Systems by 4.4% in the 2nd quarter. Federated Hermes Inc. now owns 592,187 shares of the technology company’s stock valued at $108,376,000 after buying an additional 24,689 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its holdings in shares of Veeva Systems by 31.5% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 484,186 shares of the technology company’s stock worth $102,943,000 after acquiring an additional 116,044 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on VEEV. Truist Financial increased their target price on Veeva Systems from $197.00 to $207.00 and gave the stock a “hold” rating in a report on Tuesday, September 3rd. UBS Group lifted their price objective on Veeva Systems from $185.00 to $215.00 and gave the company a “neutral” rating in a report on Monday, August 26th. Piper Sandler upped their target price on shares of Veeva Systems from $230.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Robert W. Baird cut their price target on shares of Veeva Systems from $251.00 to $245.00 and set an “outperform” rating for the company in a report on Monday, October 28th. Finally, Raymond James upped their price objective on shares of Veeva Systems from $230.00 to $235.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $236.92.

Veeva Systems Price Performance

Shares of NYSE:VEEV opened at $226.88 on Wednesday. The stock’s 50-day moving average is $214.98 and its 200 day moving average is $201.48. The company has a market cap of $36.74 billion, a PE ratio of 60.50, a P/E/G ratio of 2.09 and a beta of 0.81. Veeva Systems Inc. has a 1 year low of $165.12 and a 1 year high of $240.68.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings results on Wednesday, August 28th. The technology company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.03. The company 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%. Analysts expect that Veeva Systems Inc. will post 4.21 EPS for the current fiscal year.

Insider Activity

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,126 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $240.01, for a total transaction of $270,251.26. Following the completion of the sale, the insider now directly owns 27,013 shares in the company, valued at approximately $6,483,390.13. This trade represents a 4.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 10.50% of the company’s stock.

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.