Livforsakringsbolaget Skandia Omsesidigt Buys 2,000 Shares of Veeva Systems Inc. (NYSE:VEEV)

Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 1,000.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,200 shares of the technology company’s stock after purchasing an additional 2,000 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Veeva Systems were worth $402,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Advisors Asset Management Inc. bought a new position in Veeva Systems during the first quarter valued at approximately $28,000. DSM Capital Partners LLC purchased a new stake in Veeva Systems during the fourth quarter valued at about $29,000. First Financial Corp IN bought a new position in shares of Veeva Systems during the first quarter valued at about $35,000. Larson Financial Group LLC increased its stake in Veeva Systems by 1,153.8% in the 1st quarter. Larson Financial Group LLC now owns 163 shares of the technology company’s stock worth $38,000 after purchasing an additional 150 shares during the period. Finally, Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Veeva Systems during the fourth quarter valued at approximately $32,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Price Performance

VEEV stock traded down $2.03 during trading on Monday, hitting $184.82. 95,249 shares of the stock traded hands, compared to its average volume of 971,063. The stock has a market cap of $29.88 billion, a price-to-earnings ratio of 55.12, a price-to-earnings-growth ratio of 1.82 and a beta of 0.80. Veeva Systems Inc. has a 1 year low of $162.72 and a 1 year high of $236.90. The firm’s 50 day moving average is $184.56 and its two-hundred day moving average is $203.36.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Thursday, May 30th. The technology company reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.10. Veeva Systems had a net margin of 22.34% and a return on equity of 12.74%. The company had revenue of $650.35 million during the quarter, compared to analyst estimates of $641.73 million. As a group, analysts anticipate that Veeva Systems Inc. will post 4.19 EPS for the current fiscal year.

Insider Activity at Veeva Systems

In other Veeva Systems news, CFO Timothy S. Cabral sold 15,000 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were 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 owns 8,391 shares in the company, valued at approximately $1,546,713.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 10.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on VEEV shares. Piper Sandler decreased their target price on shares of Veeva Systems from $235.00 to $225.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Barclays lowered their price objective on shares of Veeva Systems from $245.00 to $220.00 and set an “overweight” rating for the company in a research note on Friday, May 31st. Bank of America cut their target price on Veeva Systems from $240.00 to $204.00 and set a “neutral” rating on the stock in a research note on Friday, May 31st. Morgan Stanley lowered their price target on Veeva Systems from $210.00 to $173.00 and set an “underweight” rating for the company in a research report on Friday, May 31st. Finally, Guggenheim lifted their price objective on Veeva Systems from $211.00 to $233.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $228.27.

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.