Veeva Systems Inc. (NYSE:VEEV) Shares Bought by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Veeva Systems Inc. (NYSE:VEEV) by 18.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,706 shares of the technology company’s stock after purchasing an additional 1,990 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Veeva Systems were worth $2,446,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of VEEV. OFI Invest Asset Management acquired a new stake in Veeva Systems in the third quarter valued at $25,000. Operose Advisors LLC acquired a new stake in Veeva Systems in the third quarter valued at $29,000. Parkside Financial Bank & Trust raised its stake in Veeva Systems by 81.9% in the third quarter. Parkside Financial Bank & Trust now owns 171 shares of the technology company’s stock valued at $35,000 after buying an additional 77 shares in the last quarter. Atticus Wealth Management LLC raised its stake in Veeva Systems by 500.0% in the third quarter. Atticus Wealth Management LLC now owns 180 shares of the technology company’s stock valued at $37,000 after buying an additional 150 shares in the last quarter. Finally, Nkcfo LLC raised its stake in Veeva Systems by 54.7% in the third quarter. Nkcfo LLC now owns 232 shares of the technology company’s stock valued at $47,000 after buying an additional 82 shares in the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Veeva Systems Price Performance

Shares of NYSE:VEEV opened at $200.95 on Wednesday. The business’s 50 day simple moving average is $220.53 and its 200-day simple moving average is $202.75. The firm has a market capitalization of $32.42 billion, a price-to-earnings ratio of 62.41, a price-to-earnings-growth ratio of 2.01 and a beta of 0.74. Veeva Systems Inc. has a 12 month low of $160.21 and a 12 month high of $236.90.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings results on Thursday, February 29th. The technology company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.81 by $0.11. The business had revenue of $630.62 million for the quarter, compared to analyst estimates of $620.75 million. Veeva Systems had a return on equity of 11.26% and a net margin of 22.24%. On average, equities analysts anticipate that Veeva Systems Inc. will post 4.11 earnings per share for the current year.

Insider Transactions at Veeva Systems

In other news, EVP Alan Mateo sold 3,391 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $200.86, for a total transaction of $681,116.26. Following the sale, the executive vice president now owns 21,983 shares of the company’s stock, valued at approximately $4,415,505.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Alan Mateo sold 3,391 shares of Veeva Systems stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $200.86, for a total transaction of $681,116.26. Following the completion of the transaction, the executive vice president now directly owns 21,983 shares in the company, valued at approximately $4,415,505.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Timothy S. Cabral sold 15,000 shares of Veeva Systems stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $226.04, for a total value of $3,390,600.00. Following the transaction, the director now owns 23,391 shares of the company’s stock, valued at $5,287,301.64. The disclosure for this sale can be found here. Insiders have sold 21,989 shares of company stock valued at $4,818,013 in the last quarter. 10.98% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

VEEV has been the topic of a number of analyst reports. Needham & Company LLC restated a “buy” rating and issued a $260.00 price target on shares of Veeva Systems in a research note on Tuesday, April 2nd. Raymond James restated an “outperform” rating and issued a $260.00 price target on shares of Veeva Systems in a research note on Tuesday, March 26th. Piper Sandler raised their price target on Veeva Systems from $220.00 to $245.00 and gave the company an “overweight” rating in a research note on Friday, March 1st. Barclays lifted their target price on Veeva Systems from $240.00 to $245.00 and gave the stock an “overweight” rating in a research report on Friday, March 1st. Finally, UBS Group lifted their target price on Veeva Systems from $185.00 to $235.00 and gave the stock a “neutral” rating in a research report on Monday, February 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Veeva Systems presently has an average rating of “Moderate Buy” and a consensus price target of $234.90.

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.