Charles Schwab Investment Management Inc. Has $143.09 Million Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Charles Schwab Investment Management Inc. grew its position in Veeva Systems Inc. (NYSE:VEEV) by 3.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 681,807 shares of the technology company’s stock after purchasing an additional 19,879 shares during the period. Charles Schwab Investment Management Inc. owned about 0.42% of Veeva Systems worth $143,091,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA grew its holdings in Veeva Systems by 64.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company’s stock worth $744,084,000 after acquiring an additional 1,392,256 shares during the last quarter. Principal Financial Group Inc. increased its position in Veeva Systems by 138.9% in the third quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock worth $457,366,000 after purchasing an additional 1,267,061 shares during the period. Swedbank AB bought a new stake in Veeva Systems during the 1st quarter worth about $227,673,000. Jupiter Asset Management Ltd. lifted its position in Veeva Systems by 84.0% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 453,933 shares of the technology company’s stock valued at $83,074,000 after purchasing an additional 207,222 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ boosted its stake in shares of Veeva Systems by 545.5% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 195,486 shares of the technology company’s stock valued at $35,776,000 after purchasing an additional 165,203 shares during the last quarter. 88.20% of the stock is owned by institutional investors.

Veeva Systems Stock Performance

Shares of Veeva Systems stock opened at $216.58 on Monday. Veeva Systems Inc. has a 52-week low of $165.12 and a 52-week high of $240.68. The business’s 50 day simple moving average is $214.54 and its 200 day simple moving average is $201.16. The firm has a market cap of $35.07 billion, a PE ratio of 57.75, a P/E/G ratio of 2.09 and a beta of 0.81.

Veeva Systems (NYSE:VEEV) last posted 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. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. The company had revenue of $676.18 million for the quarter, compared to the consensus estimate of $667.21 million. As a group, equities research analysts predict that Veeva Systems Inc. will post 4.21 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Guggenheim increased their price objective on shares of Veeva Systems from $233.00 to $249.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Citigroup raised their price target on Veeva Systems from $256.00 to $273.00 and gave the stock a “buy” rating in a research report on Tuesday, August 27th. Scotiabank assumed coverage on Veeva Systems in a research note on Monday, November 18th. They issued a “sector perform” rating and a $235.00 target price on the stock. TD Cowen boosted their target price on Veeva Systems from $180.00 to $192.00 and gave the stock a “hold” rating in a research report on Thursday, August 29th. Finally, Truist Financial increased their price target on shares of Veeva Systems from $197.00 to $207.00 and gave the company a “hold” rating in a research report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, Veeva Systems currently has an average rating of “Moderate Buy” and a consensus price target of $236.92.

Insider Activity

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

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.