Veeva Systems Inc. $VEEV Shares Acquired by Swedbank AB

Swedbank AB increased its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 0.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,038,617 shares of the technology company’s stock after buying an additional 6,788 shares during the quarter. Swedbank AB’s holdings in Veeva Systems were worth $299,101,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Baader Bank Aktiengesellschaft lifted its holdings in shares of Veeva Systems by 3.4% during the second quarter. Baader Bank Aktiengesellschaft now owns 3,203 shares of the technology company’s stock worth $894,000 after purchasing an additional 104 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Veeva Systems by 12.1% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 19,791 shares of the technology company’s stock worth $5,699,000 after purchasing an additional 2,131 shares in the last quarter. Focus Financial Network Inc. acquired a new stake in Veeva Systems in the second quarter valued at about $205,000. Sivia Capital Partners LLC boosted its holdings in Veeva Systems by 225.9% in the 2nd quarter. Sivia Capital Partners LLC now owns 3,122 shares of the technology company’s stock valued at $899,000 after purchasing an additional 2,164 shares in the last quarter. Finally, Channel Wealth LLC increased its position in Veeva Systems by 6.5% during the 2nd quarter. Channel Wealth LLC now owns 18,760 shares of the technology company’s stock worth $5,403,000 after purchasing an additional 1,139 shares during the period. 88.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on VEEV shares. KeyCorp raised their price target on Veeva Systems from $285.00 to $325.00 and gave the company an “overweight” rating in a report on Monday, July 14th. Stifel Nicolaus raised their target price on Veeva Systems from $295.00 to $320.00 and gave the company a “buy” rating in a report on Thursday, August 28th. BTIG Research upped their price target on shares of Veeva Systems from $335.00 to $340.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. Morgan Stanley increased their price target on shares of Veeva Systems from $210.00 to $222.00 and gave the company an “underweight” rating in a report on Thursday, August 28th. Finally, Needham & Company LLC boosted their price objective on shares of Veeva Systems from $300.00 to $355.00 and gave the stock a “buy” rating in a report on Thursday, August 28th. Seventeen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Veeva Systems has a consensus rating of “Moderate Buy” and an average price target of $301.48.

Veeva Systems Stock Performance

VEEV opened at $274.10 on Thursday. The company’s 50 day simple moving average is $280.69 and its 200 day simple moving average is $258.17. Veeva Systems Inc. has a 1 year low of $200.30 and a 1 year high of $296.72. The stock has a market capitalization of $44.93 billion, a PE ratio of 56.28, a P/E/G ratio of 2.13 and a beta of 0.95.

Insiders Place Their Bets

In other Veeva Systems news, SVP Jonathan Faddis sold 720 shares of Veeva Systems stock in a transaction on Thursday, July 10th. The shares were 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 in the company, valued at $2,256,969.24. This trade represents a 8.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Priscilla Hung sold 172 shares of the company’s stock in a transaction 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 approximately $1,170,771. The trade was a 3.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,063 shares of company stock worth $302,955. 10.30% of the stock is owned by company insiders.

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.