Bell Bank Has $1.14 Million Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Bell Bank reduced its position in Veeva Systems Inc. (NYSE:VEEV) by 3.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,450 shares of the technology company’s stock after selling 187 shares during the period. Bell Bank’s holdings in Veeva Systems were worth $1,144,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Empowered Funds LLC purchased a new stake in shares of Veeva Systems in the first quarter valued at $1,083,000. Concurrent Investment Advisors LLC purchased a new stake in Veeva Systems in the 1st quarter worth about $228,000. Headlands Technologies LLC acquired a new stake in Veeva Systems during the 1st quarter worth about $94,000. Avantax Advisory Services Inc. purchased a new position in Veeva Systems during the 1st quarter valued at about $369,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Veeva Systems by 23.0% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 85,122 shares of the technology company’s stock valued at $19,722,000 after purchasing an additional 15,904 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Veeva Systems from $203.00 to $208.00 and gave the company a “neutral” rating in a research report on Monday, September 9th. BNP Paribas started coverage on shares of Veeva Systems in a report on Tuesday, October 8th. They set an “outperform” rating and a $286.00 price target on the stock. Truist Financial increased their price objective on Veeva Systems from $197.00 to $207.00 and gave the stock a “hold” rating in a report on Tuesday, September 3rd. Raymond James boosted their target price on Veeva Systems from $230.00 to $235.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Finally, TD Cowen raised their price target on Veeva Systems from $180.00 to $192.00 and gave the stock a “hold” rating in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, Veeva Systems presently has a consensus rating of “Moderate Buy” and an average price target of $237.00.

Veeva Systems Trading Down 1.3 %

Shares of VEEV stock opened at $233.37 on Thursday. The firm has a market capitalization of $37.79 billion, a P/E ratio of 62.23, a price-to-earnings-growth ratio of 2.28 and a beta of 0.81. Veeva Systems Inc. has a 1 year low of $165.12 and a 1 year high of $240.68. The firm’s fifty day simple moving average is $214.81 and its 200 day simple moving average is $200.26.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings results on Wednesday, August 28th. The technology company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.03. The company had revenue of $676.18 million for the quarter, compared to analyst estimates of $667.21 million. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. Equities research analysts anticipate that Veeva Systems Inc. will post 4.21 EPS for the current fiscal year.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,126 shares of Veeva Systems stock in a transaction on Friday, November 8th. The shares were sold at an average price of $240.01, for a total transaction of $270,251.26. Following the sale, the insider now owns 27,013 shares in the company, valued at $6,483,390.13. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Veeva Systems news, insider Thomas D. Schwenger sold 1,126 shares of Veeva Systems stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $240.01, for a total transaction of $270,251.26. Following the sale, the insider now directly owns 27,013 shares of the company’s stock, valued at approximately $6,483,390.13. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jonathan Faddis sold 2,353 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $200.00, for a total value of $470,600.00. Following the completion of the transaction, the senior vice president now directly owns 9,035 shares of the company’s stock, valued at approximately $1,807,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 10.50% of the company’s stock.

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.