Forsta AP Fonden Grows Position in Veeva Systems Inc. (NYSE:VEEV)

Forsta AP Fonden raised its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 13.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,900 shares of the technology company’s stock after buying an additional 3,800 shares during the quarter. Forsta AP Fonden’s holdings in Veeva Systems were worth $7,391,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Linscomb & Williams Inc. purchased a new position in Veeva Systems during the 4th quarter valued at approximately $1,479,000. Robeco Institutional Asset Management B.V. grew its holdings in Veeva Systems by 32.7% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 206,220 shares of the technology company’s stock valued at $365,000 after buying an additional 50,868 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in Veeva Systems by 703.8% during the 4th quarter. Sequoia Financial Advisors LLC now owns 15,594 shares of the technology company’s stock valued at $3,002,000 after buying an additional 13,654 shares in the last quarter. Nordea Investment Management AB boosted its holdings in shares of Veeva Systems by 5.2% in the 4th quarter. Nordea Investment Management AB now owns 163,247 shares of the technology company’s stock worth $31,730,000 after purchasing an additional 8,007 shares during the period. Finally, APG Asset Management US Inc. purchased a new position in shares of Veeva Systems in the 4th quarter worth approximately $5,756,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Insider Activity at Veeva Systems

In related news, CFO Timothy S. Cabral sold 15,000 shares of the company’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $184.33, for a total transaction of $2,764,950.00. Following the transaction, the chief financial officer now directly owns 8,391 shares of the company’s stock, valued at approximately $1,546,713.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Veeva Systems news, EVP Alan Mateo sold 3,391 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $200.86, for a total transaction of $681,116.26. Following the sale, the executive vice president now owns 21,983 shares in the company, valued at approximately $4,415,505.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Timothy S. Cabral sold 15,000 shares of the company’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $184.33, for a total value of $2,764,950.00. Following the completion of the sale, the chief financial officer now owns 8,391 shares in the company, valued at approximately $1,546,713.03. The disclosure for this sale can be found here. 10.50% of the stock is currently owned by corporate insiders.

Veeva Systems Trading Up 1.0 %

VEEV opened at $187.92 on Monday. The firm has a market cap of $30.38 billion, a price-to-earnings ratio of 55.43, a PEG ratio of 1.84 and a beta of 0.80. Veeva Systems Inc. has a 12 month low of $162.72 and a 12 month high of $236.90. The stock has a fifty day moving average price of $191.22 and a 200-day moving average price of $205.06.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings results on Thursday, May 30th. The technology company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.93 by $0.10. Veeva Systems had a return on equity of 12.74% and a net margin of 22.34%. The firm had revenue of $650.35 million during the quarter, compared to analyst estimates of $641.73 million. On average, equities research analysts forecast that Veeva Systems Inc. will post 4.19 EPS for the current year.

Analyst Ratings Changes

VEEV has been the subject of a number of recent research reports. Truist Financial dropped their target price on Veeva Systems from $203.00 to $197.00 and set a “hold” rating for the company in a report on Friday, June 14th. Evercore ISI dropped their target price on Veeva Systems from $230.00 to $200.00 and set an “in-line” rating for the company in a report on Friday, May 31st. StockNews.com upgraded Veeva Systems from a “hold” rating to a “buy” rating in a report on Friday, April 12th. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 target price on shares of Veeva Systems in a report on Friday, May 31st. Finally, Stifel Nicolaus dropped their price objective on Veeva Systems from $250.00 to $210.00 and set a “buy” rating for the company in a report on Friday, May 31st. One analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $228.05.

Veeva Systems 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.