BNP PARIBAS ASSET MANAGEMENT Holding S.A. Acquires 4,695 Shares of Veeva Systems Inc. (NYSE:VEEV)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 27.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,990 shares of the technology company’s stock after buying an additional 4,695 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Veeva Systems were worth $4,024,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Veeva Systems by 7.5% during the 1st quarter. Vanguard Group Inc. now owns 14,150,070 shares of the technology company’s stock worth $3,278,430,000 after acquiring an additional 991,208 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Veeva Systems by 6.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,167,960 shares of the technology company’s stock worth $417,376,000 after purchasing an additional 122,546 shares in the last quarter. Van ECK Associates Corp grew its position in Veeva Systems by 9.0% in the 1st quarter. Van ECK Associates Corp now owns 1,934,150 shares of the technology company’s stock worth $448,123,000 after purchasing an additional 159,085 shares in the last quarter. Norges Bank purchased a new stake in Veeva Systems in the 4th quarter valued at about $305,543,000. Finally, TD Asset Management Inc lifted its position in shares of 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 worth $284,335,000 after buying an additional 182,762 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Insider Transactions at Veeva Systems

In related news, SVP Jonathan Faddis sold 2,353 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $200.00, for a total value of $470,600.00. Following the transaction, the senior vice president now directly owns 9,035 shares in the company, valued at $1,807,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Veeva Systems news, SVP Jonathan Faddis sold 2,353 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $200.00, for a total value of $470,600.00. Following the completion of the sale, the senior vice president now owns 9,035 shares of the company’s stock, valued at $1,807,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Timothy S. Cabral sold 15,000 shares of Veeva Systems stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $184.33, for a total value of $2,764,950.00. Following the completion of the transaction, the chief financial officer now owns 8,391 shares in the company, valued at approximately $1,546,713.03. The disclosure for this sale can be found here. Insiders own 10.50% of the company’s stock.

Veeva Systems Stock Performance

Shares of VEEV opened at $216.44 on Friday. The stock has a market capitalization of $34.99 billion, a price-to-earnings ratio of 63.85, a price-to-earnings-growth ratio of 2.12 and a beta of 0.80. Veeva Systems Inc. has a 52-week low of $162.72 and a 52-week high of $236.90. The stock’s 50-day simple moving average is $189.12 and its 200 day simple moving average is $202.12.

Veeva Systems (NYSE:VEEV) last posted its earnings results on Thursday, May 30th. The technology company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.10. The business had revenue of $650.35 million for the quarter, compared to analysts’ expectations of $641.73 million. Veeva Systems had a net margin of 23.91% and a return on equity of 13.69%. On average, research analysts forecast that Veeva Systems Inc. will post 4.19 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on VEEV. Citigroup increased their price target on Veeva Systems from $256.00 to $273.00 and gave the company a “buy” rating in a research report on Tuesday, August 27th. Truist Financial lowered their target price on Veeva Systems from $203.00 to $197.00 and set a “hold” rating on the stock in a research note on Friday, June 14th. Royal Bank of Canada restated an “outperform” rating and set a $250.00 price target on shares of Veeva Systems in a research report on Thursday. Stifel Nicolaus lowered their price objective on shares of Veeva Systems from $250.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, May 31st. Finally, Robert W. Baird boosted their target price on shares of Veeva Systems from $245.00 to $251.00 and gave the company an “outperform” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, Veeva Systems has a consensus rating of “Moderate Buy” and an average price target of $230.13.

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.