Mn Services Vermogensbeheer B.V. Has $11 Million Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Mn Services Vermogensbeheer B.V. reduced its stake in Veeva Systems Inc. (NYSE:VEEV) by 2.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 60,100 shares of the technology company’s stock after selling 1,700 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Veeva Systems were worth $10,999,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of VEEV. Vanguard Group Inc. lifted 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 purchasing an additional 991,208 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings 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 valued at $417,376,000 after buying an additional 122,546 shares in the last quarter. Van ECK Associates Corp increased its position in Veeva Systems by 9.0% during the 1st quarter. Van ECK Associates Corp now owns 1,934,150 shares of the technology company’s stock worth $448,123,000 after buying an additional 159,085 shares during the period. Norges Bank acquired a new stake in shares of Veeva Systems during the fourth quarter worth $305,543,000. Finally, TD Asset Management Inc boosted its position in shares of Veeva Systems by 17.5% in the first quarter. TD Asset Management Inc now owns 1,227,223 shares of the technology company’s stock valued at $284,335,000 after acquiring an additional 182,762 shares during the period. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Veeva Systems Stock Performance

Shares of Veeva Systems stock traded up $2.19 on Friday, reaching $199.25. 871,906 shares of the company’s stock were exchanged, compared to its average volume of 956,307. The company has a market capitalization of $32.21 billion, a P/E ratio of 58.78, a price-to-earnings-growth ratio of 1.89 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 firm’s 50-day moving average is $186.60 and its two-hundred day moving average is $202.37.

Veeva Systems (NYSE:VEEV) last released its earnings results on Thursday, May 30th. The technology company reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.10. The company had revenue of $650.35 million for the quarter, compared to the consensus estimate of $641.73 million. Veeva Systems had a net margin of 22.34% and a return on equity of 12.74%. On average, analysts expect that Veeva Systems Inc. will post 4.19 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Truist Financial lowered their price target on shares of Veeva Systems from $203.00 to $197.00 and set a “hold” rating on the stock in a research report on Friday, June 14th. BTIG Research initiated coverage on shares of Veeva Systems in a research report on Tuesday, July 9th. They issued a “buy” rating and a $240.00 price target for the company. Needham & Company LLC reissued a “buy” rating and set a $260.00 price target on shares of Veeva Systems in a research report on Monday, July 15th. Piper Sandler lowered their price objective on Veeva Systems from $235.00 to $225.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Finally, Morgan Stanley cut their target price on Veeva Systems from $210.00 to $173.00 and set an “underweight” rating for the company in a research report on Friday, May 31st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, Veeva Systems presently has an average rating of “Moderate Buy” and an average price target of $228.27.

Insider Transactions at Veeva Systems

In other news, SVP Jonathan Faddis sold 2,353 shares of the business’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 transaction of $470,600.00. Following the completion of the sale, the senior vice president now owns 9,035 shares in the company, valued at $1,807,000. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Veeva Systems news, SVP Jonathan Faddis sold 2,353 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $1,807,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 shares were sold at an average price of $184.33, for a total transaction of $2,764,950.00. Following the transaction, the chief financial officer now owns 8,391 shares of the company’s stock, valued at $1,546,713.03. The disclosure for this sale can be found here. Insiders own 10.50% of the company’s stock.

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.