Swiss National Bank Has $91.87 Million Position in Veeva Systems Inc. (NYSE:VEEV)

Swiss National Bank raised its holdings in Veeva Systems Inc. (NYSE:VEEV) by 1.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 477,200 shares of the technology company’s stock after buying an additional 8,500 shares during the quarter. Swiss National Bank owned 0.30% of Veeva Systems worth $91,871,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. New York Life Investment Management LLC raised its holdings in shares of Veeva Systems by 5.6% in the 4th quarter. New York Life Investment Management LLC now owns 2,485 shares of the technology company’s stock worth $478,000 after buying an additional 131 shares in the last quarter. Y.D. More Investments Ltd acquired a new position in Veeva Systems during the fourth quarter worth $2,655,000. Victory Capital Management Inc. lifted its holdings in shares of Veeva Systems by 6.6% during the fourth quarter. Victory Capital Management Inc. now owns 201,806 shares of the technology company’s stock valued at $38,852,000 after acquiring an additional 12,535 shares during the period. Savant Capital LLC acquired a new stake in shares of Veeva Systems in the 4th quarter valued at $231,000. Finally, Kestra Private Wealth Services LLC grew its holdings in shares of Veeva Systems by 15.7% in the 4th quarter. Kestra Private Wealth Services LLC now owns 3,084 shares of the technology company’s stock worth $594,000 after purchasing an additional 418 shares during the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Price Performance

Shares of VEEV stock opened at $203.45 on Friday. The stock has a market cap of $32.82 billion, a PE ratio of 63.18, a price-to-earnings-growth ratio of 2.05 and a beta of 0.76. The stock has a 50-day moving average of $217.38 and a 200-day moving average of $202.14. Veeva Systems Inc. has a one year low of $160.21 and a one year high of $236.90.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Thursday, February 29th. The technology company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.11. The firm had revenue of $630.62 million during the quarter, compared to analysts’ expectations of $620.75 million. Veeva Systems had a net margin of 22.24% and a return on equity of 11.26%. As a group, research analysts anticipate that Veeva Systems Inc. will post 4.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on VEEV shares. Robert W. Baird boosted their price target on shares of Veeva Systems from $245.00 to $251.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. Raymond James restated an “outperform” rating and set a $260.00 price target on shares of Veeva Systems in a research report on Tuesday, March 26th. Stifel Nicolaus lifted their price objective on Veeva Systems from $205.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Royal Bank of Canada restated an “outperform” rating and set a $250.00 target price on shares of Veeva Systems in a report on Wednesday, March 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 price target on shares of Veeva Systems in a report on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, Veeva Systems currently has an average rating of “Moderate Buy” and a consensus price target of $234.90.

Insiders Place Their Bets

In other Veeva Systems news, Director Timothy S. Cabral sold 15,000 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $226.04, for a total value of $3,390,600.00. Following the completion of the sale, the director now directly owns 23,391 shares in the company, valued at $5,287,301.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Veeva Systems news, EVP Alan Mateo sold 3,391 shares of the stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $200.86, for a total transaction of $681,116.26. Following the completion of the transaction, the executive vice president now owns 21,983 shares in the company, valued at approximately $4,415,505.38. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Timothy S. Cabral sold 15,000 shares of Veeva Systems stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $226.04, for a total value of $3,390,600.00. Following the completion of the sale, the director now directly owns 23,391 shares in the company, valued at approximately $5,287,301.64. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,989 shares of company stock worth $4,818,013. Corporate insiders own 10.98% of the company’s stock.

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.