Bellevue Group AG Decreases Holdings in Veeva Systems Inc. (NYSE:VEEV)

Bellevue Group AG decreased its stake in Veeva Systems Inc. (NYSE:VEEV) by 3.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 163,512 shares of the technology company’s stock after selling 5,071 shares during the period. Bellevue Group AG owned 0.10% of Veeva Systems worth $34,316,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of Veeva Systems in the 3rd quarter worth approximately $26,000. Advisors Asset Management Inc. purchased a new stake in Veeva Systems in the first quarter worth $28,000. Blue Trust Inc. raised its stake in shares of Veeva Systems by 3,460.0% in the second quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock valued at $33,000 after buying an additional 173 shares during the period. DT Investment Partners LLC purchased a new position in shares of Veeva Systems during the 2nd quarter valued at $35,000. Finally, Mather Group LLC. grew its stake in shares of Veeva Systems by 166.3% during the 2nd quarter. Mather Group LLC. now owns 253 shares of the technology company’s stock worth $46,000 after acquiring an additional 158 shares during the period. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Veeva Systems Price Performance

Shares of NYSE VEEV opened at $227.85 on Friday. The stock has a market capitalization of $36.90 billion, a P/E ratio of 60.76, a PEG ratio of 2.21 and a beta of 0.81. Veeva Systems Inc. has a one year low of $165.12 and a one year high of $240.68. The firm’s 50 day simple moving average is $215.71 and its two-hundred day simple moving average is $201.99.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Wednesday, August 28th. The technology company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.03. The company had revenue of $676.18 million during the quarter, compared to analysts’ expectations of $667.21 million. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. As a group, equities analysts expect that Veeva Systems Inc. will post 4.19 earnings per share for the current fiscal year.

Insiders Place Their Bets

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 value of $270,251.26. Following the transaction, the insider now directly owns 27,013 shares of the company’s stock, valued at $6,483,390.13. The trade was a 4.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 10.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

VEEV has been the topic of a number of research reports. Guggenheim boosted their price objective on Veeva Systems from $233.00 to $249.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. StockNews.com raised shares of Veeva Systems from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. UBS Group raised their price objective on shares of Veeva Systems from $185.00 to $215.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. Barclays boosted their target price on shares of Veeva Systems from $240.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Finally, Scotiabank initiated coverage on Veeva Systems in a report on Monday, November 18th. They set a “sector perform” rating and a $235.00 price objective on the stock. One analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $236.92.

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.