Veeva Systems Inc. (NYSE:VEEV) Shares Acquired by Federated Hermes Inc.

Federated Hermes Inc. increased its holdings in Veeva Systems Inc. (NYSE:VEEV) by 4.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 592,187 shares of the technology company’s stock after purchasing an additional 24,689 shares during the period. Federated Hermes Inc. owned 0.37% of Veeva Systems worth $108,376,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in VEEV. BNP Paribas Financial Markets raised its position in shares of Veeva Systems by 127.8% in the 4th quarter. BNP Paribas Financial Markets now owns 68,041 shares of the technology company’s stock worth $13,099,000 after buying an additional 38,175 shares during the period. AGF Management Ltd. acquired a new stake in Veeva Systems during the 4th quarter worth approximately $357,000. Dimensional Fund Advisors LP raised its holdings in Veeva Systems by 5.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 280,098 shares of the technology company’s stock valued at $53,926,000 after buying an additional 14,062 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Veeva Systems by 10.4% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 69,218 shares of the technology company’s stock valued at $12,818,000 after buying an additional 6,505 shares in the last quarter. Finally, Foundations Investment Advisors LLC grew its stake in Veeva Systems by 3.7% during the fourth quarter. Foundations Investment Advisors LLC now owns 2,250 shares of the technology company’s stock worth $459,000 after buying an additional 80 shares during the period. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Veeva Systems

In related news, SVP Jonathan Faddis sold 2,353 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 9,035 shares in the company, valued at approximately $1,807,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 10.50% of the stock is owned by corporate insiders.

Veeva Systems Stock Down 1.8 %

Shares of Veeva Systems stock opened at $219.94 on Friday. The business has a fifty day simple moving average of $195.45 and a 200-day simple moving average of $202.07. Veeva Systems Inc. has a fifty-two week low of $162.72 and a fifty-two week high of $236.90. The firm has a market cap of $35.55 billion, a price-to-earnings ratio of 64.88, a price-to-earnings-growth ratio of 2.18 and a beta of 0.81.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 target price on shares of Veeva Systems in a research note on Thursday, August 29th. Stifel Nicolaus lowered their price target on shares of Veeva Systems from $250.00 to $210.00 and set a “buy” rating for the company in a report on Friday, May 31st. Morgan Stanley dropped their price objective on Veeva Systems from $210.00 to $173.00 and set an “underweight” rating on the stock in a report on Friday, May 31st. Evercore ISI cut their target price on shares of Veeva Systems from $230.00 to $200.00 and set an “in-line” rating on the stock in a research note on Friday, May 31st. Finally, JPMorgan Chase & Co. increased their target price on Veeva Systems from $203.00 to $208.00 and gave the stock a “neutral” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, Veeva Systems currently has an average rating of “Moderate Buy” and a consensus price target of $229.96.

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.