E. Ohman J or Asset Management AB Has $36.98 Million Position in Veeva Systems Inc. (NYSE:VEEV)

E. Ohman J or Asset Management AB cut its holdings in Veeva Systems Inc. (NYSE:VEEV) by 0.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 176,187 shares of the technology company’s stock after selling 500 shares during the quarter. E. Ohman J or Asset Management AB owned about 0.11% of Veeva Systems worth $36,976,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Mcdaniel Terry & Co. bought a new position in Veeva Systems during the 3rd quarter worth about $201,000. IFM Investors Pty Ltd boosted its position in shares of Veeva Systems by 0.4% during the third quarter. IFM Investors Pty Ltd now owns 29,486 shares of the technology company’s stock worth $6,188,000 after buying an additional 109 shares during the period. Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of Veeva Systems during the third quarter worth about $26,000. Fairman Group LLC raised its position in Veeva Systems by 120.3% in the 3rd quarter. Fairman Group LLC now owns 27,065 shares of the technology company’s stock valued at $5,680,000 after buying an additional 14,778 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. bought a new stake in Veeva Systems in the 3rd quarter valued at approximately $307,000. 88.20% of the stock is owned by institutional investors.

Veeva Systems Price Performance

VEEV opened at $212.61 on Friday. The business has a fifty day simple moving average of $210.29 and a 200 day simple moving average of $198.85. Veeva Systems Inc. has a 1 year low of $162.72 and a 1 year high of $236.90. The company has a market capitalization of $34.43 billion, a PE ratio of 56.70, a price-to-earnings-growth ratio of 2.13 and a beta of 0.81.

Veeva Systems (NYSE:VEEV) last posted its earnings results on Wednesday, August 28th. The technology company reported $1.07 earnings per share for the quarter, topping 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 company had revenue of $676.18 million during the quarter, compared to the consensus estimate of $667.21 million. Equities analysts anticipate that Veeva Systems Inc. will post 4.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on VEEV shares. Bank of America raised their price target on shares of Veeva Systems from $204.00 to $240.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. JPMorgan Chase & Co. lifted their price target on shares of Veeva Systems from $203.00 to $208.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. Truist Financial boosted their price target on shares of Veeva Systems from $197.00 to $207.00 and gave the stock a “hold” rating in a research report on Tuesday, September 3rd. TD Cowen raised their price objective on Veeva Systems from $180.00 to $192.00 and gave the company a “hold” rating in a report on Thursday, August 29th. Finally, BNP Paribas initiated coverage on Veeva Systems in a report on Tuesday, October 8th. They set an “outperform” rating and a $286.00 target price on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $232.96.

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.