Bath Savings Trust Co Increases Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Bath Savings Trust Co lifted its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 72.2% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 30,834 shares of the technology company’s stock after acquiring an additional 12,931 shares during the quarter. Bath Savings Trust Co’s holdings in Veeva Systems were worth $7,142,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the business. Versant Capital Management Inc lifted its stake in shares of Veeva Systems by 374.7% during the 1st quarter. Versant Capital Management Inc now owns 375 shares of the technology company’s stock valued at $87,000 after buying an additional 296 shares in the last quarter. Cullen Investment Group LTD. purchased a new stake in shares of Veeva Systems during the 1st quarter valued at approximately $1,724,000. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Veeva Systems by 61.3% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 192 shares of the technology company’s stock valued at $44,000 after buying an additional 73 shares in the last quarter. 111 Capital purchased a new stake in Veeva Systems in the 4th quarter worth approximately $678,000. Finally, NorthCrest Asset Manangement LLC lifted its stake in Veeva Systems by 2.1% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 48,781 shares of the technology company’s stock worth $10,256,000 after purchasing an additional 1,011 shares in the last quarter. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on VEEV. KeyCorp lowered their target price on shares of Veeva Systems from $260.00 to $250.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Barclays increased their target price on shares of Veeva Systems from $285.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday. UBS Group increased their target price on shares of Veeva Systems from $250.00 to $285.00 and gave the stock a “neutral” rating in a research note on Thursday. Truist Financial increased their target price on shares of Veeva Systems from $217.00 to $230.00 and gave the stock a “hold” rating in a research note on Thursday. Finally, Wall Street Zen upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $268.12.

Insider Activity at Veeva Systems

In other Veeva Systems news, Director Timothy S. Cabral sold 3,882 shares of the firm’s stock in a transaction on Friday, April 4th. The shares were sold at an average price of $216.83, for a total value of $841,734.06. Following the sale, the director now owns 5,500 shares of the company’s stock, valued at $1,192,565. This trade represents a 41.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jonathan Faddis sold 787 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total transaction of $178,019.40. Following the completion of the sale, the senior vice president now directly owns 8,668 shares in the company, valued at approximately $1,960,701.60. This trade represents a 8.32% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,869 shares of company stock valued at $1,284,917. Insiders own 10.30% of the company’s stock.

Veeva Systems Stock Performance

VEEV stock opened at $278.85 on Friday. Veeva Systems Inc. has a 52 week low of $170.25 and a 52 week high of $285.70. The firm’s fifty day moving average is $229.69 and its 200 day moving average is $227.56. The firm has a market cap of $45.37 billion, a P/E ratio of 68.85, a P/E/G ratio of 1.89 and a beta of 0.96.

Veeva Systems (NYSE:VEEV) last released its earnings results on Wednesday, May 28th. The technology company reported $1.97 EPS for the quarter, beating the consensus estimate of $1.74 by $0.23. Veeva Systems had a net margin of 25.07% and a return on equity of 13.56%. The company had revenue of $759.04 million for the quarter, compared to analyst estimates of $728.38 million. During the same quarter last year, the firm earned $1.50 EPS. The firm’s quarterly revenue was up 16.7% compared to the same quarter last year. As a group, analysts forecast that Veeva Systems Inc. will post 4.35 EPS for the current year.

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.