Veeva Systems Inc. (NYSE:VEEV) Stock Holdings Increased by Huntington National Bank

Huntington National Bank boosted its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 19.8% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,559 shares of the technology company’s stock after purchasing an additional 258 shares during the period. Huntington National Bank’s holdings in Veeva Systems were worth $327,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in VEEV. Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of Veeva Systems during the 3rd quarter valued at $26,000. Advisors Asset Management Inc. purchased a new position in Veeva Systems in the first quarter valued at about $28,000. Blue Trust Inc. increased its position in Veeva Systems by 3,460.0% in 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. DT Investment Partners LLC purchased a new stake in shares of Veeva Systems during the 2nd quarter worth about $35,000. Finally, Mather Group LLC. lifted its holdings in shares of Veeva Systems by 166.3% during the 2nd quarter. Mather Group LLC. now owns 253 shares of the technology company’s stock valued at $46,000 after buying an additional 158 shares during the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on VEEV. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 target price on shares of Veeva Systems in a research note on Friday, November 8th. Raymond James raised their price target on shares of Veeva Systems from $230.00 to $235.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Royal Bank of Canada increased their target price on shares of Veeva Systems from $250.00 to $275.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Bank of America boosted their price target on Veeva Systems from $204.00 to $240.00 and gave the stock a “neutral” rating in a research 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 price objective on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $237.00.

Insider Activity

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,126 shares of Veeva Systems stock in a transaction on Friday, November 8th. The stock was sold at an average price of $240.01, for a total transaction of $270,251.26. Following the completion of the transaction, the insider now directly owns 27,013 shares of the company’s stock, valued at approximately $6,483,390.13. This trade represents a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jonathan Faddis sold 2,353 shares of the business’s stock in a transaction 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 completion of the sale, the senior vice president now owns 9,035 shares in the company, valued at $1,807,000. This represents a 20.66 % decrease in their position. The disclosure for this sale can be found here. 10.50% of the stock is owned by company insiders.

Veeva Systems Stock Down 7.1 %

Veeva Systems stock opened at $213.36 on Friday. The business has a 50 day moving average price of $215.37 and a two-hundred day moving average price of $200.77. Veeva Systems Inc. has a 12 month low of $165.12 and a 12 month high of $240.68. The stock has a market cap of $34.55 billion, a price-to-earnings ratio of 56.90, a price-to-earnings-growth ratio of 2.22 and a beta of 0.81.

Veeva Systems (NYSE:VEEV) last issued its earnings results on Wednesday, August 28th. The technology company reported $1.07 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 during the quarter, compared to analyst estimates of $667.21 million. On average, analysts expect that Veeva Systems Inc. will post 4.21 earnings per share for the current fiscal year.

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.