M&G Plc Grows Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

M&G Plc lifted its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 21.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,128 shares of the technology company’s stock after purchasing an additional 1,091 shares during the period. M&G Plc’s holdings in Veeva Systems were worth $1,121,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Advisors Asset Management Inc. bought a new stake in shares of Veeva Systems in the 1st quarter worth approximately $28,000. DSM Capital Partners LLC purchased a new position in Veeva Systems during the 4th quarter valued at $29,000. Vermillion & White Wealth Management Group LLC purchased a new position in Veeva Systems during the 4th quarter valued at $32,000. First Financial Corp IN bought a new position in Veeva Systems in the 1st quarter worth $35,000. Finally, American National Bank purchased a new stake in shares of Veeva Systems in the 4th quarter worth about $36,000. 88.20% of the stock is owned by institutional investors.

Veeva Systems Stock Up 2.6 %

VEEV traded up $4.85 during midday trading on Tuesday, hitting $190.27. 504,848 shares of the company traded hands, compared to its average volume of 970,213. The company’s 50-day moving average is $184.84 and its 200 day moving average is $203.20. Veeva Systems Inc. has a 52 week low of $162.72 and a 52 week high of $236.90. The firm has a market capitalization of $30.76 billion, a PE ratio of 56.40, a price-to-earnings-growth ratio of 1.83 and a beta of 0.80.

Veeva Systems (NYSE:VEEV) last issued its earnings results on Thursday, May 30th. The technology company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.10. The company had revenue of $650.35 million for the quarter, compared to analysts’ expectations of $641.73 million. Veeva Systems had a net margin of 22.34% and a return on equity of 12.74%. On average, sell-side analysts predict that Veeva Systems Inc. will post 4.19 earnings per share for the current fiscal year.

Insider Buying and Selling at Veeva Systems

In related news, CFO Timothy S. Cabral sold 15,000 shares of Veeva Systems stock in a transaction on Friday, June 7th. The stock was sold at an average price of $184.33, for a total transaction of $2,764,950.00. Following the transaction, the chief financial officer now directly owns 8,391 shares in the company, valued at $1,546,713.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 10.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on VEEV. Robert W. Baird increased their price target on shares of Veeva Systems from $251.00 to $255.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 29th. Stifel Nicolaus lowered their target price on Veeva Systems from $250.00 to $210.00 and set a “buy” rating for the company in a research note on Friday, May 31st. Citigroup dropped their price target on Veeva Systems from $274.00 to $256.00 and set a “buy” rating on the stock in a research report on Monday, June 3rd. Truist Financial lowered their price objective on Veeva Systems from $203.00 to $197.00 and set a “hold” rating for the company in a research report on Friday, June 14th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 price target on shares of Veeva Systems in a research note on Friday, June 21st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $228.27.

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.