Federated Hermes Inc. Raises Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Federated Hermes Inc. grew its holdings in Veeva Systems Inc. (NYSE:VEEV) by 3.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 530,328 shares of the technology company’s stock after acquiring an additional 17,668 shares during the period. Federated Hermes Inc.’s holdings in Veeva Systems were worth $102,099,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sequoia Financial Advisors LLC grew its stake in shares of Veeva Systems by 703.8% in the 4th quarter. Sequoia Financial Advisors LLC now owns 15,594 shares of the technology company’s stock worth $3,002,000 after buying an additional 13,654 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of Veeva Systems by 5.2% in the 4th quarter. Nordea Investment Management AB now owns 163,247 shares of the technology company’s stock worth $31,730,000 after acquiring an additional 8,007 shares during the last quarter. ICICI Prudential Asset Management Co Ltd lifted its holdings in shares of Veeva Systems by 13.1% in the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 49,140 shares of the technology company’s stock worth $9,460,000 after acquiring an additional 5,674 shares during the last quarter. Lecap Asset Management Ltd. bought a new stake in shares of Veeva Systems in the 4th quarter worth about $2,668,000. Finally, DekaBank Deutsche Girozentrale lifted its holdings in shares of Veeva Systems by 26.3% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 98,377 shares of the technology company’s stock worth $18,953,000 after acquiring an additional 20,488 shares during the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

VEEV has been the subject of a number of research analyst reports. Piper Sandler lifted their price objective on shares of Veeva Systems from $220.00 to $245.00 and gave the company an “overweight” rating in a report on Friday, March 1st. Truist Financial lifted their price objective on shares of Veeva Systems from $187.00 to $203.00 and gave the company a “hold” rating in a report on Friday, March 1st. Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 price objective on shares of Veeva Systems in a report on Wednesday, March 27th. Barclays lifted their price objective on shares of Veeva Systems from $240.00 to $245.00 and gave the company an “overweight” rating in a report on Friday, March 1st. Finally, Stifel Nicolaus lifted their price objective on shares of Veeva Systems from $205.00 to $250.00 and gave the company a “buy” rating in a report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $234.90.

Veeva Systems Trading Up 0.2 %

Shares of NYSE VEEV opened at $199.52 on Friday. Veeva Systems Inc. has a 12 month low of $160.21 and a 12 month high of $236.90. The company has a 50 day simple moving average of $221.54 and a two-hundred day simple moving average of $202.82. The stock has a market cap of $32.19 billion, a price-to-earnings ratio of 61.96, a PEG ratio of 2.01 and a beta of 0.74.

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

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, COO Thomas D. Schwenger sold 1,238 shares of the company’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $210.02, for a total value of $260,004.76. Following the completion of the transaction, the chief operating officer now owns 24,342 shares in the company, valued at $5,112,306.84. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Veeva Systems news, SVP Jonathan Faddis sold 3,598 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $207.42, for a total value of $746,297.16. Following the completion of the transaction, the senior vice president now owns 10,668 shares in the company, valued at $2,212,756.56. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Thomas D. Schwenger sold 1,238 shares of the business’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $210.02, for a total transaction of $260,004.76. Following the sale, the chief operating officer now directly owns 24,342 shares of the company’s stock, valued at approximately $5,112,306.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,836 shares of company stock worth $4,396,902. Company insiders own 10.98% of the company’s stock.

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.