XTX Topco Ltd Has $519,000 Holdings in Veeva Systems Inc. (NYSE:VEEV)

XTX Topco Ltd decreased its position in Veeva Systems Inc. (NYSE:VEEV) by 38.2% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 2,837 shares of the technology company’s stock after selling 1,755 shares during the period. XTX Topco Ltd’s holdings in Veeva Systems were worth $519,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Veeva Systems by 7.5% in the first quarter. Vanguard Group Inc. now owns 14,150,070 shares of the technology company’s stock worth $3,278,430,000 after buying an additional 991,208 shares during the period. Van ECK Associates Corp grew its stake in Veeva Systems by 9.0% during the 1st quarter. Van ECK Associates Corp now owns 1,934,150 shares of the technology company’s stock valued at $448,123,000 after acquiring an additional 159,085 shares in the last quarter. TD Asset Management Inc grew its stake in Veeva Systems by 17.5% during the 1st quarter. TD Asset Management Inc now owns 1,227,223 shares of the technology company’s stock valued at $284,335,000 after acquiring an additional 182,762 shares in the last quarter. Swedbank AB increased its holdings in shares of 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 purchasing an additional 48,402 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in shares of Veeva Systems by 1,122.3% during the second quarter. Principal Financial Group Inc. now owns 912,223 shares of the technology company’s stock worth $166,946,000 after purchasing an additional 837,593 shares during the period. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Veeva Systems Stock Performance

NYSE:VEEV opened at $207.86 on Wednesday. The firm’s 50-day moving average is $200.18 and its 200-day moving average is $201.15. Veeva Systems Inc. has a 52-week low of $162.72 and a 52-week high of $236.90. The company has a market cap of $33.60 billion, a price-to-earnings ratio of 61.32, a PEG ratio of 2.12 and a beta of 0.81.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $667.21 million. Veeva Systems had a return on equity of 13.30% and a net margin of 23.91%. Equities analysts predict that Veeva Systems Inc. will post 4.2 EPS for the current year.

Insider Transactions at Veeva Systems

In related news, SVP Jonathan Faddis sold 2,353 shares of the company’s 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 10.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on VEEV. JPMorgan Chase & Co. upped their price objective on shares of Veeva Systems from $203.00 to $208.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 price objective on shares of Veeva Systems in a report on Thursday, August 29th. TD Cowen boosted their target price on Veeva Systems from $180.00 to $192.00 and gave the company a “hold” rating in a research note on Thursday, August 29th. Evercore ISI cut their price target on Veeva Systems from $230.00 to $200.00 and set an “in-line” rating for the company in a research note on Friday, May 31st. Finally, Barclays lifted their price target on Veeva Systems from $220.00 to $240.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus 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.