National Bank of Canada FI Has $1.82 Million Stake in Veeva Systems Inc. (NYSE:VEEV)

National Bank of Canada FI lifted its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 33.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,662 shares of the technology company’s stock after buying an additional 2,168 shares during the period. National Bank of Canada FI’s holdings in Veeva Systems were worth $1,818,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of VEEV. Patriot Financial Group Insurance Agency LLC lifted its stake in Veeva Systems by 0.7% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 6,924 shares of the technology company’s stock valued at $1,453,000 after acquiring an additional 48 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its position in shares of Veeva Systems by 1.2% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,307 shares of the technology company’s stock worth $904,000 after purchasing an additional 50 shares in the last quarter. Clearbridge Investments LLC boosted its holdings in Veeva Systems by 0.4% during the second quarter. Clearbridge Investments LLC now owns 11,682 shares of the technology company’s stock worth $2,138,000 after purchasing an additional 52 shares during the last quarter. Park Place Capital Corp grew its position in Veeva Systems by 11.5% in the third quarter. Park Place Capital Corp now owns 574 shares of the technology company’s stock valued at $120,000 after purchasing an additional 59 shares in the last quarter. Finally, Quintet Private Bank Europe S.A. increased its stake in Veeva Systems by 13.4% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 516 shares of the technology company’s stock valued at $108,000 after buying an additional 61 shares during the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Veeva Systems Stock Performance

VEEV stock opened at $228.78 on Friday. Veeva Systems Inc. has a 52 week low of $170.25 and a 52 week high of $258.93. The company’s 50-day simple moving average is $221.36 and its 200 day simple moving average is $204.00. The company has a market capitalization of $37.05 billion, a PE ratio of 56.49, a price-to-earnings-growth ratio of 2.07 and a beta of 0.82.

Insiders Place Their Bets

In related news, SVP Jonathan Faddis sold 1,694 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total value of $390,128.20. Following the transaction, the senior vice president now owns 8,061 shares in the company, valued at approximately $1,856,448.30. This trade represents a 17.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Thomas D. Schwenger sold 1,126 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $240.01, for a total transaction of $270,251.26. Following the sale, the insider now directly owns 27,013 shares of the company’s stock, valued at $6,483,390.13. This represents a 4.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 10.50% of the company’s stock.

Wall Street Analyst Weigh In

VEEV has been the subject of a number of recent research reports. Bank of America increased their price objective on shares of Veeva Systems from $280.00 to $290.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Scotiabank raised their price target on Veeva Systems from $235.00 to $240.00 and gave the company a “sector perform” rating in a research note on Friday, December 6th. Truist Financial reaffirmed a “hold” rating and set a $261.00 price target (up previously from $207.00) on shares of Veeva Systems in a research report on Friday, December 6th. Royal Bank of Canada increased their price objective on Veeva Systems from $275.00 to $285.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Finally, Barclays boosted their target price on shares of Veeva Systems from $260.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $255.35.

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.