Bell Bank Sells 187 Shares of Veeva Systems Inc. (NYSE:VEEV)

Bell Bank decreased its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 3.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 5,450 shares of the technology company’s stock after selling 187 shares during the period. Bell Bank’s holdings in Veeva Systems were worth $1,144,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in VEEV. Oppenheimer Asset Management Inc. lifted its position in shares of Veeva Systems by 3.6% during the third quarter. Oppenheimer Asset Management Inc. now owns 78,000 shares of the technology company’s stock worth $16,370,000 after purchasing an additional 2,733 shares in the last quarter. Hartline Investment Corp increased its holdings in shares of Veeva Systems by 6.2% in the third quarter. Hartline Investment Corp now owns 8,106 shares of the technology company’s stock valued at $1,701,000 after purchasing an additional 475 shares in the last quarter. Simmons Bank bought a new position in Veeva Systems in the 3rd quarter worth approximately $952,000. GSA Capital Partners LLP acquired a new position in Veeva Systems during the 3rd quarter worth $526,000. Finally, Entropy Technologies LP boosted its position in Veeva Systems by 40.5% in the 3rd quarter. Entropy Technologies LP now owns 19,044 shares of the technology company’s stock valued at $3,997,000 after buying an additional 5,492 shares during the last quarter. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Trading Down 1.3 %

Shares of NYSE VEEV opened at $233.37 on Thursday. The company has a fifty day moving average price of $214.81 and a 200 day moving average price of $200.26. Veeva Systems Inc. has a 1-year low of $165.12 and a 1-year high of $240.68. The firm has a market cap of $37.79 billion, a PE ratio of 62.23, a PEG ratio of 2.28 and a beta of 0.81.

Veeva Systems (NYSE:VEEV) last announced its earnings results on Wednesday, August 28th. The technology company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.03. Veeva Systems had a return on equity of 13.30% and a net margin of 23.91%. The business had revenue of $676.18 million for the quarter, compared to analyst estimates of $667.21 million. Equities research analysts forecast that Veeva Systems Inc. will post 4.21 EPS for the current year.

Insider Buying and Selling

In other news, SVP Jonathan Faddis sold 2,353 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $200.00, for a total transaction of $470,600.00. Following the completion of the transaction, the senior vice president now directly owns 9,035 shares in the company, valued at $1,807,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Veeva Systems news, insider Thomas D. Schwenger sold 1,126 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $240.01, for a total value of $270,251.26. Following the transaction, the insider now directly owns 27,013 shares of the company’s stock, valued at $6,483,390.13. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Jonathan Faddis sold 2,353 shares of Veeva Systems stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $200.00, for a total transaction of $470,600.00. Following the completion of the sale, the senior vice president now owns 9,035 shares of the company’s stock, valued at $1,807,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 10.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on Veeva Systems from $203.00 to $208.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. Royal Bank of Canada boosted their price objective on Veeva Systems from $250.00 to $275.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 target price on shares of Veeva Systems in a research note on Friday, November 8th. Guggenheim lifted their price target on shares of Veeva Systems from $233.00 to $249.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Finally, StockNews.com upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $237.00.

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.