DNB Asset Management AS increased its holdings in Veeva Systems Inc. (NYSE:VEEV – Get Rating) by 14.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,179 shares of the technology company’s stock after buying an additional 3,115 shares during the quarter. DNB Asset Management AS’s holdings in Veeva Systems were worth $5,137,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of VEEV. Norges Bank acquired a new stake in shares of Veeva Systems during the 4th quarter worth approximately $312,407,000. Alliancebernstein L.P. grew its stake in shares of Veeva Systems by 49.5% during the 4th quarter. Alliancebernstein L.P. now owns 2,356,137 shares of the technology company’s stock worth $601,946,000 after purchasing an additional 779,607 shares during the period. Ownership Capital B.V. acquired a new stake in shares of Veeva Systems during the 4th quarter worth approximately $195,153,000. UBS Asset Management Americas Inc. grew its stake in shares of Veeva Systems by 154.5% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 1,145,996 shares of the technology company’s stock worth $330,242,000 after purchasing an additional 695,661 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of Veeva Systems during the 4th quarter valued at approximately $150,141,000.
Shares of VEEV opened at $187.67 on Thursday. The stock has a 50-day simple moving average of $178.10 and a 200-day simple moving average of $208.79. The stock has a market capitalization of $29.06 billion, a PE ratio of 73.89, a PEG ratio of 3.83 and a beta of 0.86. Veeva Systems Inc. has a 1 year low of $152.04 and a 1 year high of $343.96.
In other Veeva Systems news, CAO Michele O’connor sold 371 shares of the business’s stock in a transaction that occurred on Friday, June 3rd. The stock was sold at an average price of $189.37, for a total value of $70,256.27. Following the completion of the sale, the chief accounting officer now owns 15,833 shares in the company, valued at $2,998,295.21. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Timothy S. Cabral sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $189.31, for a total value of $1,893,100.00. Following the completion of the sale, the director now owns 118,114 shares of the company’s stock, valued at approximately $22,360,161.34. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,371 shares of company stock valued at $8,460,376. 13.23% of the stock is owned by company insiders.
VEEV has been the topic of a number of research reports. Guggenheim restated a “buy” rating and issued a $252.00 price objective on shares of Veeva Systems in a report on Tuesday. SVB Leerink restated a “buy” rating and issued a $268.00 price objective on shares of Veeva Systems in a report on Monday, March 14th. Needham & Company LLC decreased their price objective on Veeva Systems from $270.00 to $205.00 and set a “buy” rating on the stock in a report on Thursday, June 2nd. Truist Financial cut their target price on Veeva Systems from $275.00 to $225.00 and set a “buy” rating for the company in a research note on Thursday, June 2nd. Finally, Bank of America downgraded Veeva Systems from a “buy” rating to a “neutral” rating and cut their target price for the stock from $300.00 to $220.00 in a research note on Thursday, March 3rd. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Veeva Systems presently has an average rating of “Moderate Buy” and a consensus price target of $261.11.
Veeva Systems Profile (Get Rating)
Veeva Systems Inc provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, the Middle East, Africa, and Latin America. The company offers Veeva Commercial Cloud, a suite of software, data, and analytics solutions, which include Veeva customer relationship management (CRM) and Veeva Medical CRM, Veeva CLM, Veeva CRM MyInsights, Veeva CLM, Veeva CRM Approved Email, Veeva CRM Engage, Veeva Align, Veeva CRM Events Management, Veeva Nitro, Veeva OpenData, Veeva Link, Veeva Network, Veeva Crossix, Veeva Data Cloud, and MyVeeva for Patients; and Veeva Vault, a cloud-based enterprise content and data management applications for managing commercial functions, including sales and marketing, and medical content and communications, as well as research and development functions, such as clinical, regulatory, quality, and safety.
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