Epoch Investment Partners Inc. Cuts Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Epoch Investment Partners Inc. cut its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 28.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 384,024 shares of the technology company’s stock after selling 153,305 shares during the quarter. Epoch Investment Partners Inc. owned approximately 0.24% of Veeva Systems worth $70,280,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in VEEV. APG Asset Management US Inc. bought a new position in Veeva Systems during the fourth quarter valued at $5,756,000. Quantum Capital Management LLC NJ raised its stake in Veeva Systems by 9.8% in the 4th quarter. Quantum Capital Management LLC NJ now owns 329,867 shares of the technology company’s stock valued at $63,506,000 after acquiring an additional 29,525 shares during the period. Eisler Capital UK Ltd. bought a new stake in Veeva Systems in the 4th quarter valued at about $1,408,000. Oberndorf William E bought a new position in Veeva Systems during the fourth quarter worth about $8,011,000. Finally, Envestnet Portfolio Solutions Inc. increased its stake in shares of Veeva Systems by 44.9% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 29,782 shares of the technology company’s stock worth $5,450,000 after purchasing an additional 9,232 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors.

Insider Transactions at Veeva Systems

In related news, SVP Jonathan Faddis sold 2,353 shares of the stock in a transaction dated Wednesday, August 21st. The stock was 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 directly owns 9,035 shares in the company, valued at approximately $1,807,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 10.50% of the company’s stock.

Wall Street Analyst Weigh In

VEEV has been the subject of several analyst reports. Robert W. Baird raised their price objective on shares of Veeva Systems from $245.00 to $251.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Bank of America raised their price target on Veeva Systems from $204.00 to $240.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Morgan Stanley decreased their price objective on Veeva Systems from $210.00 to $173.00 and set an “underweight” rating on the stock in a research note on Friday, May 31st. Raymond James raised their target price on Veeva Systems from $230.00 to $235.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Finally, Piper Sandler upped their price target on Veeva Systems from $225.00 to $230.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $229.96.

Veeva Systems Price Performance

Shares of NYSE VEEV opened at $214.88 on Monday. The stock has a market capitalization of $34.74 billion, a P/E ratio of 63.39, a PEG ratio of 2.12 and a beta of 0.81. Veeva Systems Inc. has a one year low of $162.72 and a one year high of $236.90. The firm’s 50 day simple moving average is $199.25 and its two-hundred day simple moving average is $201.42.

Veeva Systems (NYSE:VEEV) last issued its earnings results on Wednesday, August 28th. The technology company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates 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%. As a group, equities analysts expect that Veeva Systems Inc. will post 4.2 earnings per share for the current fiscal year.

Veeva Systems 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.