Banco Bilbao Vizcaya Argentaria S.A. Grows Position in Veeva Systems Inc. $VEEV

Banco Bilbao Vizcaya Argentaria S.A. increased its holdings in Veeva Systems Inc. (NYSE:VEEV) by 18.2% in the first quarter, Holdings Channel.com reports. The firm owned 34,064 shares of the technology company’s stock after purchasing an additional 5,256 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in Veeva Systems were worth $7,886,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in VEEV. GeoWealth Management LLC grew its position in shares of Veeva Systems by 11.0% in the fourth quarter. GeoWealth Management LLC now owns 1,022 shares of the technology company’s stock valued at $215,000 after purchasing an additional 101 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Veeva Systems by 8.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 473,154 shares of the technology company’s stock valued at $99,490,000 after purchasing an additional 35,348 shares during the period. BI Asset Management Fondsmaeglerselskab A S grew its position in shares of Veeva Systems by 78.4% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 6,985 shares of the technology company’s stock valued at $1,469,000 after purchasing an additional 3,070 shares during the period. Teachers Retirement System of The State of Kentucky grew its position in shares of Veeva Systems by 6.9% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 28,664 shares of the technology company’s stock valued at $6,027,000 after purchasing an additional 1,844 shares during the period. Finally, Tower Research Capital LLC TRC grew its position in shares of Veeva Systems by 81.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,037 shares of the technology company’s stock valued at $428,000 after purchasing an additional 916 shares during the period. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Price Performance

Shares of VEEV opened at $283.9690 on Wednesday. The stock’s 50-day moving average is $282.25 and its two-hundred day moving average is $251.54. The stock has a market cap of $46.40 billion, a PE ratio of 60.16, a P/E/G ratio of 2.23 and a beta of 0.95. Veeva Systems Inc. has a 12 month low of $192.73 and a 12 month high of $296.72.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Wednesday, May 28th. The technology company reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.23. The company had revenue of $759.04 million for the quarter, compared to analysts’ expectations of $728.38 million. Veeva Systems had a return on equity of 13.96% and a net margin of 27.34%.The firm’s quarterly revenue was up 16.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.50 earnings per share. On average, research analysts anticipate that Veeva Systems Inc. will post 4.35 earnings per share for the current year.

Insiders Place Their Bets

In other Veeva Systems news, Director Priscilla Hung sold 172 shares of the business’s stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $283.00, for a total transaction of $48,676.00. Following the transaction, the director owned 4,137 shares in the company, valued at $1,170,771. The trade was a 3.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Jonathan Faddis sold 720 shares of the business’s stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $285.62, for a total value of $205,646.40. Following the transaction, the senior vice president owned 7,902 shares in the company, valued at approximately $2,256,969.24. This represents a 8.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,378 shares of company stock worth $394,217 over the last quarter. 10.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Barclays boosted their price target on Veeva Systems from $285.00 to $300.00 and gave the company an “overweight” rating in a research report on Thursday, May 29th. Piper Sandler boosted their price target on Veeva Systems from $255.00 to $325.00 and gave the company an “overweight” rating in a research report on Thursday, May 29th. Needham & Company LLC boosted their price target on Veeva Systems from $270.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, May 29th. Wall Street Zen raised Veeva Systems from a “hold” rating to a “buy” rating in a research report on Friday, May 30th. Finally, UBS Group boosted their price target on Veeva Systems from $250.00 to $285.00 and gave the company a “neutral” rating in a research report on Thursday, May 29th. Fourteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $274.17.

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.