Handelsbanken Fonder AB Acquires 1,646 Shares of Veeva Systems Inc. (NYSE:VEEV)

Handelsbanken Fonder AB grew its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 4.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 35,671 shares of the technology company’s stock after acquiring an additional 1,646 shares during the period. Handelsbanken Fonder AB’s holdings in Veeva Systems were worth $7,486,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Personal CFO Solutions LLC grew its position in shares of Veeva Systems by 18.4% in the 4th quarter. Personal CFO Solutions LLC now owns 1,292 shares of the technology company’s stock valued at $249,000 after buying an additional 201 shares during the last quarter. Elo Mutual Pension Insurance Co boosted its holdings in Veeva Systems by 9.5% in the fourth quarter. Elo Mutual Pension Insurance Co now owns 13,359 shares of the technology company’s stock valued at $2,572,000 after acquiring an additional 1,162 shares during the last quarter. Greystone Financial Group LLC increased its position in Veeva Systems by 9.8% during the 4th quarter. Greystone Financial Group LLC now owns 1,772 shares of the technology company’s stock valued at $341,000 after purchasing an additional 158 shares during the period. Nebula Research & Development LLC bought a new position in Veeva Systems during the 4th quarter worth approximately $681,000. Finally, Frontier Capital Management Co. LLC increased its stake in Veeva Systems by 5.2% in the fourth quarter. Frontier Capital Management Co. LLC now owns 566,485 shares of the technology company’s stock valued at $109,060,000 after purchasing an additional 28,099 shares in the last quarter. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Trading Down 1.4 %

NYSE:VEEV opened at $201.83 on Tuesday. The firm’s 50 day moving average is $203.71 and its 200 day moving average is $199.86. Veeva Systems Inc. has a 12 month low of $162.72 and a 12 month high of $236.90. The stock has a market capitalization of $32.63 billion, a PE ratio of 59.53, a price-to-earnings-growth ratio of 2.02 and a beta of 0.81.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings results on Wednesday, August 28th. The technology company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.03. Veeva Systems had a return on equity of 13.30% and a net margin of 23.91%. The firm had revenue of $676.18 million for the quarter, compared to analysts’ expectations of $667.21 million. Research analysts predict that Veeva Systems Inc. will post 4.21 earnings per share for the current year.

Insider Activity at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 2,353 shares of the business’s stock in a transaction 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 sale, the senior vice president now owns 9,035 shares of the company’s stock, valued at $1,807,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 10.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Barclays raised their target price on Veeva Systems from $220.00 to $240.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. BTIG Research began coverage on Veeva Systems in a research report on Tuesday, July 9th. They set a “buy” rating and a $240.00 target price on the stock. Piper Sandler lifted their price target on shares of Veeva Systems from $225.00 to $230.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Citigroup upped their price objective on shares of Veeva Systems from $256.00 to $273.00 and gave the stock a “buy” rating in a report on Tuesday, August 27th. Finally, Raymond James boosted their target price on shares of Veeva Systems from $230.00 to $235.00 and gave the stock an “outperform” rating in a research 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.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $230.65.

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.