Banque Cantonale Vaudoise Invests $2.55 Million in Veeva Systems Inc. (NYSE:VEEV)

Banque Cantonale Vaudoise purchased a new position in Veeva Systems Inc. (NYSE:VEEV) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 11,021 shares of the technology company’s stock, valued at approximately $2,553,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of VEEV. Johnson Financial Group Inc. raised its position in shares of Veeva Systems by 22.7% during the 4th quarter. Johnson Financial Group Inc. now owns 238 shares of the technology company’s stock worth $56,000 after purchasing an additional 44 shares during the period. Marks Group Wealth Management Inc grew its stake in Veeva Systems by 3.3% during the 1st quarter. Marks Group Wealth Management Inc now owns 1,427 shares of the technology company’s stock worth $331,000 after buying an additional 46 shares during the last quarter. Colonial Trust Co SC increased its position in Veeva Systems by 30.3% in the fourth quarter. Colonial Trust Co SC now owns 241 shares of the technology company’s stock worth $51,000 after buying an additional 56 shares during the period. CoreCap Advisors LLC lifted its stake in Veeva Systems by 31.7% in the fourth quarter. CoreCap Advisors LLC now owns 249 shares of the technology company’s stock valued at $52,000 after buying an additional 60 shares during the last quarter. Finally, Crestwood Advisors Group LLC boosted its holdings in shares of Veeva Systems by 3.7% during the first quarter. Crestwood Advisors Group LLC now owns 1,690 shares of the technology company’s stock valued at $391,000 after acquiring an additional 61 shares during the period. 88.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on VEEV. Citigroup lifted their price objective on shares of Veeva Systems from $265.00 to $329.00 and gave the company a “buy” rating in a research report on Friday, May 30th. Morgan Stanley lifted their target price on Veeva Systems from $201.00 to $210.00 and gave the company an “underweight” rating in a research note on Thursday, May 29th. KeyCorp increased their price target on Veeva Systems from $285.00 to $325.00 and gave the stock an “overweight” rating in a research note on Monday, July 14th. Piper Sandler lifted their price objective on shares of Veeva Systems from $255.00 to $325.00 and gave the company an “overweight” rating in a research note on Thursday, May 29th. Finally, Wall Street Zen raised shares of Veeva Systems from a “hold” rating to a “buy” rating in a research note on Friday, May 30th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $274.17.

Veeva Systems Trading Down 1.9%

Shares of NYSE:VEEV opened at $287.17 on Wednesday. Veeva Systems Inc. has a 1 year low of $177.41 and a 1 year high of $296.72. The firm has a fifty day moving average price of $277.04 and a 200 day moving average price of $245.47. The stock has a market capitalization of $46.93 billion, a PE ratio of 60.84, a P/E/G ratio of 2.32 and a beta of 0.98.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Wednesday, May 28th. The technology company reported $1.97 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.23. The business had revenue of $759.04 million for the quarter, compared to analyst estimates of $728.38 million. Veeva Systems had a return on equity of 13.96% and a net margin of 27.34%. The firm’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.50 EPS. On average, sell-side analysts forecast that Veeva Systems Inc. will post 4.35 earnings per share for the current fiscal year.

Insider Activity at Veeva Systems

In other Veeva Systems news, Director Priscilla Hung sold 172 shares of the firm’s stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $283.00, for a total value of $48,676.00. Following the sale, the director owned 4,137 shares of the company’s stock, valued at $1,170,771. This trade represents a 3.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Jonathan Faddis sold 720 shares of the company’s stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $285.62, for a total value of $205,646.40. Following the transaction, the senior vice president owned 7,902 shares of the company’s stock, valued at approximately $2,256,969.24. This trade represents a 8.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,378 shares of company stock worth $394,217. 10.30% of the stock is owned by insiders.

About Veeva Systems

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.