UMB Bank n.a. Sells 79 Shares of Veeva Systems Inc. (NYSE:VEEV)

UMB Bank n.a. decreased its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 4.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,755 shares of the technology company’s stock after selling 79 shares during the quarter. UMB Bank n.a.’s holdings in Veeva Systems were worth $368,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Envestnet Portfolio Solutions Inc. lifted its holdings in Veeva Systems by 44.9% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 29,782 shares of the technology company’s stock valued at $5,450,000 after buying an additional 9,232 shares during the period. BNP Paribas Financial Markets boosted its position in shares of Veeva Systems by 30.8% during the 1st quarter. BNP Paribas Financial Markets now owns 89,023 shares of the technology company’s stock valued at $20,626,000 after purchasing an additional 20,982 shares in the last quarter. Mediolanum International Funds Ltd bought a new stake in shares of Veeva Systems during the 1st quarter valued at about $5,112,000. CANADA LIFE ASSURANCE Co grew its stake in Veeva Systems by 46.9% during the first quarter. CANADA LIFE ASSURANCE Co now owns 132,760 shares of the technology company’s stock worth $30,786,000 after purchasing an additional 42,396 shares during the period. Finally, SageView Advisory Group LLC increased its holdings in Veeva Systems by 11,010.4% in the first quarter. SageView Advisory Group LLC now owns 168,545 shares of the technology company’s stock worth $39,050,000 after purchasing an additional 167,028 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Wall Street Analyst Weigh In

VEEV has been the topic of a number of research analyst reports. Barclays increased their price target on Veeva Systems from $220.00 to $240.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. TD Cowen lifted their price target on shares of Veeva Systems from $180.00 to $192.00 and gave the company a “hold” rating in a research note on Thursday, August 29th. UBS Group increased their price objective on shares of Veeva Systems from $185.00 to $215.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Piper Sandler raised their target price on Veeva Systems from $225.00 to $230.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Finally, Truist Financial upped their price target on Veeva Systems from $197.00 to $207.00 and gave the stock a “hold” rating in a research note on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Veeva Systems presently has a consensus rating of “Moderate Buy” and an average target price of $232.96.

Veeva Systems Stock Up 0.6 %

Veeva Systems stock opened at $211.32 on Friday. The stock has a market cap of $34.22 billion, a P/E ratio of 56.35, a P/E/G ratio of 2.04 and a beta of 0.81. The company’s 50 day moving average price is $205.37 and its two-hundred day moving average price is $199.24. Veeva Systems Inc. has a 52 week low of $162.72 and a 52 week high of $236.90.

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

Insider Activity at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 2,353 shares of Veeva Systems stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $200.00, for a total value of $470,600.00. Following the sale, the senior vice president now 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. 10.50% of the stock is owned by company insiders.

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.