Diversified Trust Co Raises Holdings in Veeva Systems Inc. (NYSE:VEEV)

Diversified Trust Co raised its position in Veeva Systems Inc. (NYSE:VEEV) by 4.8% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 13,845 shares of the technology company’s stock after purchasing an additional 635 shares during the period. Diversified Trust Co’s holdings in Veeva Systems were worth $2,534,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. purchased a new stake in Veeva Systems in the first quarter valued at $28,000. DSM Capital Partners LLC purchased a new stake in Veeva Systems in the 4th quarter valued at about $29,000. Vermillion & White Wealth Management Group LLC acquired a new position in Veeva Systems in the fourth quarter valued at about $32,000. First Financial Corp IN purchased a new position in Veeva Systems during the first quarter worth about $35,000. Finally, American National Bank acquired a new stake in shares of Veeva Systems during the fourth quarter valued at about $36,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Price Performance

Shares of VEEV stock traded up $0.25 during mid-day trading on Wednesday, hitting $190.57. The stock had a trading volume of 20,671 shares, compared to its average volume of 964,127. The firm has a market cap of $30.81 billion, a PE ratio of 56.13, a PEG ratio of 1.83 and a beta of 0.80. Veeva Systems Inc. has a fifty-two week low of $162.72 and a fifty-two week high of $236.90. The company’s 50-day simple moving average is $185.07 and its 200-day simple moving average is $203.07.

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

Insider Transactions at Veeva Systems

In related news, CFO Timothy S. Cabral sold 15,000 shares of Veeva Systems stock in a transaction on 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 completion of the transaction, the chief financial officer now directly owns 8,391 shares of the company’s stock, valued at $1,546,713.03. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 10.50% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on VEEV. Guggenheim upped their price objective on shares of Veeva Systems from $211.00 to $233.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Stifel Nicolaus decreased their price target on Veeva Systems from $250.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, May 31st. Bank of America lowered their price target on Veeva Systems from $240.00 to $204.00 and set a “neutral” rating for the company in a research report on Friday, May 31st. Truist Financial cut their target price on shares of Veeva Systems from $203.00 to $197.00 and set a “hold” rating on the stock in a research note on Friday, June 14th. Finally, BTIG Research assumed coverage on shares of Veeva Systems in a research note on Tuesday, July 9th. They set a “buy” rating and a $240.00 target price for the company. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus 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.