Toronto Dominion Bank Has $2.66 Million Position in Veeva Systems Inc. (NYSE:VEEV)

Toronto Dominion Bank cut its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 6.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,507 shares of the technology company’s stock after selling 1,005 shares during the period. Toronto Dominion Bank’s holdings in Veeva Systems were worth $2,655,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Semmax Financial Advisors Inc. raised its stake in Veeva Systems by 12.1% in the second quarter. Semmax Financial Advisors Inc. now owns 4,847 shares of the technology company’s stock valued at $922,000 after buying an additional 523 shares during the period. Marshall Wace LLP acquired a new position in shares of Veeva Systems during the 2nd quarter worth approximately $21,769,000. Farallon Capital Management LLC bought a new stake in Veeva Systems in the 2nd quarter valued at $663,000. Xponance Inc. lifted its holdings in Veeva Systems by 0.4% during the 2nd quarter. Xponance Inc. now owns 26,856 shares of the technology company’s stock valued at $4,915,000 after purchasing an additional 119 shares during the last quarter. Finally, Bank of Montreal Can boosted its position in Veeva Systems by 272.7% during the second quarter. Bank of Montreal Can now owns 152,697 shares of the technology company’s stock worth $28,463,000 after purchasing an additional 111,724 shares during the period. 88.20% of the stock is owned by institutional investors.

Veeva Systems Stock Performance

Veeva Systems stock opened at $210.85 on Monday. Veeva Systems Inc. has a 52 week low of $162.72 and a 52 week high of $236.90. The stock has a market capitalization of $34.14 billion, a P/E ratio of 62.20, a price-to-earnings-growth ratio of 2.02 and a beta of 0.81. The stock has a fifty day moving average of $201.77 and a 200-day moving average of $200.67.

Veeva Systems (NYSE:VEEV) last posted its earnings results on Wednesday, August 28th. The technology company reported $1.07 EPS for the quarter, topping 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 firm had revenue of $676.18 million during the quarter, compared to analysts’ expectations of $667.21 million. On average, research analysts forecast that Veeva Systems Inc. will post 4.21 earnings per share for the current year.

Analysts Set New Price Targets

VEEV has been the topic of several research analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Veeva Systems from $203.00 to $208.00 and gave the company a “neutral” rating in a research report on Monday, September 9th. Raymond James raised their price objective 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. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 target price on shares of Veeva Systems in a research report on Thursday, August 29th. Truist Financial lifted their price target on Veeva Systems from $197.00 to $207.00 and gave the stock a “hold” rating in a report on Tuesday, September 3rd. Finally, Piper Sandler upped their price objective on Veeva Systems from $225.00 to $230.00 and gave the company an “overweight” rating in a 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. According to data from MarketBeat.com, Veeva Systems presently has an average rating of “Moderate Buy” and a consensus price target of $229.96.

Insiders Place Their Bets

In other news, SVP Jonathan Faddis sold 2,353 shares of the stock in a transaction 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 transaction, the senior vice president now directly owns 9,035 shares in the company, valued at approximately $1,807,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 10.50% of the company’s stock.

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.