Veeva Systems Inc. (NYSE:VEEV) Shares Bought by Thomasville National Bank

Thomasville National Bank grew its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 2.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 84,586 shares of the technology company’s stock after purchasing an additional 1,625 shares during the period. Veeva Systems makes up about 1.4% of Thomasville National Bank’s holdings, making the stock its 25th biggest position. Thomasville National Bank owned approximately 0.05% of Veeva Systems worth $19,593,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in VEEV. Centricity Wealth Management LLC purchased a new stake in shares of Veeva Systems during the 4th quarter worth approximately $25,000. Smithfield Trust Co boosted its stake in shares of Veeva Systems by 145.5% during the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock worth $27,000 after acquiring an additional 80 shares in the last quarter. Avion Wealth boosted its stake in shares of Veeva Systems by 635.0% during the 4th quarter. Avion Wealth now owns 147 shares of the technology company’s stock worth $30,000 after acquiring an additional 127 shares in the last quarter. Venturi Wealth Management LLC boosted its stake in shares of Veeva Systems by 2,716.7% during the 4th quarter. Venturi Wealth Management LLC now owns 169 shares of the technology company’s stock worth $36,000 after acquiring an additional 163 shares in the last quarter. Finally, Promus Capital LLC purchased a new stake in shares of Veeva Systems during the 4th quarter worth approximately $36,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

Insider Transactions at Veeva Systems

In related news, insider Thomas D. Schwenger sold 1,200 shares of the stock in a transaction on Monday, April 14th. The stock was sold at an average price of $220.97, for a total value of $265,164.00. Following the completion of the sale, the insider now directly owns 25,889 shares in the company, valued at approximately $5,720,692.33. This represents a 4.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Timothy S. Cabral sold 3,882 shares of the stock in a transaction on Friday, April 4th. The shares were sold at an average price of $216.83, for a total value of $841,734.06. Following the completion of the sale, the director now owns 5,500 shares of the company’s stock, valued at approximately $1,192,565. This represents a 41.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,184 shares of company stock worth $1,376,179 in the last ninety days. Insiders own 10.30% of the company’s stock.

Analysts Set New Price Targets

VEEV has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their price target on Veeva Systems from $218.00 to $249.00 and gave the stock a “neutral” rating in a research note on Thursday, March 20th. Piper Sandler upped their target price on Veeva Systems from $255.00 to $325.00 and gave the company an “overweight” rating in a research note on Thursday, May 29th. UBS Group upped their target price on Veeva Systems from $250.00 to $285.00 and gave the company a “neutral” rating in a research note on Thursday, May 29th. Needham & Company LLC upped their target price on Veeva Systems from $270.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, May 29th. Finally, Wall Street Zen raised Veeva Systems from a “hold” rating to a “buy” rating in a research note on Friday, May 30th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $269.80.

Veeva Systems Stock Down 2.3%

VEEV stock opened at $281.85 on Friday. The company has a market cap of $45.86 billion, a price-to-earnings ratio of 69.59, a PEG ratio of 1.89 and a beta of 0.99. The business has a fifty day simple moving average of $240.79 and a 200-day simple moving average of $231.94. Veeva Systems Inc. has a 52 week low of $176.41 and a 52 week high of $291.69.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Wednesday, May 28th. The technology company reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.23. The business had revenue of $759.04 million during the quarter, compared to the consensus estimate of $728.38 million. Veeva Systems had a return on equity of 13.56% and a net margin of 25.07%. The business’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.50 EPS. As a group, analysts expect that Veeva Systems Inc. will post 4.35 earnings per share for the current fiscal year.

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.