Banque Cantonale Vaudoise Has $1.90 Million Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Banque Cantonale Vaudoise increased its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 70.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,041 shares of the technology company’s stock after purchasing an additional 3,725 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Veeva Systems were worth $1,897,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Pathstone Holdings LLC grew its holdings in Veeva Systems by 15.4% during the 3rd quarter. Pathstone Holdings LLC now owns 11,281 shares of the technology company’s stock worth $2,368,000 after acquiring an additional 1,508 shares during the last quarter. Quest Partners LLC grew its holdings in Veeva Systems by 4.7% during the 3rd quarter. Quest Partners LLC now owns 4,172 shares of the technology company’s stock worth $876,000 after acquiring an additional 188 shares during the last quarter. Gilbert & Cook Inc. bought a new stake in Veeva Systems during the 3rd quarter worth about $452,000. Swiss National Bank grew its holdings in Veeva Systems by 0.5% during the 3rd quarter. Swiss National Bank now owns 455,800 shares of the technology company’s stock worth $95,659,000 after acquiring an additional 2,100 shares during the last quarter. Finally, Ceera Investments LLC bought a new stake in Veeva Systems during the 3rd quarter worth about $4,274,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on VEEV. TD Cowen increased their price objective on shares of Veeva Systems from $180.00 to $192.00 and gave the stock a “hold” rating in a report on Thursday, August 29th. Robert W. Baird decreased their price objective on shares of Veeva Systems from $251.00 to $245.00 and set an “outperform” rating on the stock in a report on Monday, October 28th. Barclays raised their target price on shares of Veeva Systems from $240.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Truist Financial raised their target price on shares of Veeva Systems from $197.00 to $207.00 and gave the company a “hold” rating in a research note on Tuesday, September 3rd. Finally, StockNews.com raised shares of Veeva Systems from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, Veeva Systems presently has an average rating of “Moderate Buy” and an average price target of $236.92.

Insiders Place Their Bets

In other news, insider Thomas D. Schwenger sold 1,126 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $240.01, for a total value of $270,251.26. Following the completion of the sale, the insider now owns 27,013 shares of the company’s stock, valued at approximately $6,483,390.13. The trade was a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 10.50% of the company’s stock.

Veeva Systems Trading Up 0.4 %

NYSE:VEEV opened at $210.63 on Thursday. Veeva Systems Inc. has a 1-year low of $165.12 and a 1-year high of $240.68. The firm has a fifty day simple moving average of $214.68 and a 200 day simple moving average of $201.00. The stock has a market capitalization of $34.11 billion, a PE ratio of 56.17, a P/E/G ratio of 2.06 and a beta of 0.81.

Veeva Systems (NYSE:VEEV) last released its earnings results on Wednesday, August 28th. The technology company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.03. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. The business had revenue of $676.18 million during the quarter, compared to analysts’ expectations of $667.21 million. On average, equities analysts predict that Veeva Systems Inc. will post 4.21 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.