Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Whittier Trust Co. of Nevada Inc.

Whittier Trust Co. of Nevada Inc. trimmed its position in Veeva Systems Inc. (NYSE:VEEV) by 4.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,766 shares of the technology company’s stock after selling 385 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Veeva Systems were worth $1,630,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Advisors Asset Management Inc. acquired a new stake in Veeva Systems during the first quarter worth $28,000. Blue Trust Inc. increased its position in shares of Veeva Systems by 3,460.0% during the 2nd quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock worth $33,000 after purchasing an additional 173 shares during the last quarter. First Financial Corp IN purchased a new stake in Veeva Systems in the 1st quarter valued at about $35,000. DT Investment Partners LLC acquired a new position in Veeva Systems in the second quarter valued at about $35,000. Finally, Larson Financial Group LLC boosted its stake in Veeva Systems by 1,153.8% during the first quarter. Larson Financial Group LLC now owns 163 shares of the technology company’s stock worth $38,000 after buying an additional 150 shares during the period. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Jonathan Faddis sold 2,353 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $200.00, for a total value of $470,600.00. Following the completion of the sale, the senior vice president now directly owns 9,035 shares of the company’s stock, valued at approximately $1,807,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

VEEV has been the topic of a number of research analyst reports. Guggenheim boosted their price target on shares of Veeva Systems from $233.00 to $249.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Barclays upped their price target on Veeva Systems from $220.00 to $240.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Raymond James lifted their price objective on Veeva Systems from $230.00 to $235.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Piper Sandler increased their target price on Veeva Systems from $225.00 to $230.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Finally, TD Cowen raised their target price on Veeva Systems from $180.00 to $192.00 and gave the company a “hold” rating in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $232.96.

Veeva Systems Price Performance

NYSE VEEV opened at $219.51 on Wednesday. The firm’s fifty day moving average price is $209.70 and its 200 day moving average price is $198.72. Veeva Systems Inc. has a 12 month low of $162.72 and a 12 month high of $236.90. The company has a market capitalization of $35.55 billion, a price-to-earnings ratio of 58.54, a price-to-earnings-growth ratio of 2.15 and a beta of 0.81.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Wednesday, August 28th. The technology company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.03. Veeva Systems had a return on equity of 13.30% and a net margin of 23.91%. The company had revenue of $676.18 million for the quarter, compared to analyst estimates of $667.21 million. As a group, sell-side analysts forecast that Veeva Systems Inc. will post 4.21 earnings per share for the current year.

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.