AM Squared Ltd Has $63,000 Position in Veeva Systems Inc. (NYSE:VEEV)

AM Squared Ltd reduced its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 50.0% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 300 shares of the technology company’s stock after selling 300 shares during the quarter. AM Squared Ltd’s holdings in Veeva Systems were worth $63,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. grew its position in shares of Veeva Systems by 138.9% in the 3rd quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock valued at $457,366,000 after purchasing an additional 1,267,061 shares during the period. Vanguard Group Inc. grew its position in shares of Veeva Systems by 7.5% in the 1st quarter. Vanguard Group Inc. now owns 14,150,070 shares of the technology company’s stock valued at $3,278,430,000 after purchasing an additional 991,208 shares during the period. Swedbank AB acquired a new position in shares of Veeva Systems in the 1st quarter valued at approximately $227,673,000. Matrix Capital Management Company LP grew its position in shares of Veeva Systems by 635.4% in the 1st quarter. Matrix Capital Management Company LP now owns 498,821 shares of the technology company’s stock valued at $115,572,000 after purchasing an additional 430,989 shares during the period. Finally, Jupiter Asset Management Ltd. grew its position in shares of Veeva Systems by 84.0% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 453,933 shares of the technology company’s stock valued at $83,074,000 after purchasing an additional 207,222 shares during the period. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Veeva Systems Trading Down 7.1 %

VEEV opened at $213.36 on Friday. Veeva Systems Inc. has a 1-year low of $165.12 and a 1-year high of $240.68. The stock’s fifty day simple moving average is $215.37 and its 200 day simple moving average is $200.79. The stock has a market cap of $34.55 billion, a PE ratio of 56.90, a price-to-earnings-growth ratio of 2.06 and a beta of 0.81.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings results on Wednesday, August 28th. The technology company reported $1.07 earnings per share 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 analysts’ expectations of $667.21 million. Equities analysts forecast that Veeva Systems Inc. will post 4.21 earnings per share for the current year.

Insider Activity at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 2,353 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $200.00, for a total value of $470,600.00. Following the transaction, the senior vice president now directly owns 9,035 shares of the company’s stock, valued at $1,807,000. This represents a 20.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Thomas D. Schwenger sold 1,126 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $240.01, for a total value of $270,251.26. Following the completion of the transaction, the insider now directly owns 27,013 shares in the company, valued at approximately $6,483,390.13. This represents a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

VEEV has been the subject of several research analyst reports. BNP Paribas assumed coverage on Veeva Systems in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $286.00 price objective for the company. Barclays upped their price target on Veeva Systems from $240.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Bank of America upped 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. Piper Sandler upped their price target on Veeva Systems from $230.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Finally, Robert W. Baird reduced their price target on Veeva Systems from $251.00 to $245.00 and set an “outperform” rating for the company in a research report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, Veeva Systems has an average rating of “Moderate Buy” and a consensus target price of $237.00.

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.