APG Asset Management N.V. Cuts Holdings in Veeva Systems Inc. (NYSE:VEEV)

APG Asset Management N.V. decreased its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 26.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 106,530 shares of the technology company’s stock after selling 37,730 shares during the period. APG Asset Management N.V. owned about 0.07% of Veeva Systems worth $18,191,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of VEEV. Vanguard Group Inc. grew its holdings 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 valued at $3,278,430,000 after purchasing an additional 991,208 shares during the period. Swedbank AB acquired a new stake in shares of Veeva Systems in the first quarter valued at $227,673,000. Principal Financial Group Inc. grew its position 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 buying an additional 837,593 shares in the last quarter. Matrix Capital Management Company LP increased its position in shares of Veeva Systems by 635.4% in the 1st quarter. Matrix Capital Management Company LP now owns 498,821 shares of the technology company’s stock valued at $115,572,000 after purchasing an additional 430,989 shares during the last quarter. Finally, Acadian Asset Management LLC increased its holdings in Veeva Systems by 83.8% in the first quarter. Acadian Asset Management LLC now owns 618,344 shares of the technology company’s stock valued at $143,235,000 after buying an additional 281,993 shares during the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Price Performance

NYSE:VEEV opened at $210.85 on Friday. The stock has a market capitalization of $34.14 billion, a PE ratio of 62.20, a price-to-earnings-growth ratio of 2.02 and a beta of 0.81. The business’s 50-day simple moving average is $201.77 and its 200-day simple moving average is $200.91. Veeva Systems Inc. has a fifty-two week low of $162.72 and a fifty-two week high of $236.90.

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

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 2,353 shares of the company’s stock in a transaction on 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 $1,807,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 10.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. UBS Group increased their price objective on Veeva Systems from $185.00 to $215.00 and gave the company a “neutral” rating in a report on Monday, August 26th. Barclays raised their price objective on shares of Veeva Systems from $220.00 to $240.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Guggenheim upped their target price on shares of Veeva Systems from $211.00 to $233.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Truist Financial lifted their price target on shares of Veeva Systems from $197.00 to $207.00 and gave the stock a “hold” rating in a research note on Tuesday, September 3rd. Finally, Raymond James upped their price objective on shares of Veeva Systems from $230.00 to $235.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, Veeva Systems presently has an average rating of “Moderate Buy” and a consensus target price of $229.96.

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.