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

Federated Hermes Inc. lifted its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 3.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 530,328 shares of the technology company’s stock after purchasing an additional 17,668 shares during the period. Federated Hermes Inc. owned 0.33% of Veeva Systems worth $102,099,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of VEEV. Norges Bank purchased a new position in Veeva Systems in the 4th quarter valued at approximately $259,703,000. Wellington Management Group LLP grew its stake in Veeva Systems by 1,578.4% in the 1st quarter. Wellington Management Group LLP now owns 1,504,355 shares of the technology company’s stock valued at $319,616,000 after buying an additional 1,414,726 shares in the last quarter. Invesco Ltd. grew its stake in Veeva Systems by 239.7% in the 3rd quarter. Invesco Ltd. now owns 956,355 shares of the technology company’s stock valued at $194,570,000 after buying an additional 674,785 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Veeva Systems by 34.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,045,414 shares of the technology company’s stock valued at $416,139,000 after buying an additional 522,257 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its stake in Veeva Systems by 25.0% in the 2nd quarter. Nuveen Asset Management LLC now owns 2,432,413 shares of the technology company’s stock valued at $480,961,000 after buying an additional 486,588 shares in the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Insider Activity

In other 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 transaction of $260,004.76. Following the completion of the transaction, the chief operating officer now directly owns 24,342 shares of the company’s stock, valued at $5,112,306.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other 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 transaction of $260,004.76. Following the completion of the transaction, the chief operating officer now directly owns 24,342 shares of the company’s stock, valued at $5,112,306.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Timothy S. Cabral sold 15,000 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $226.04, for a total transaction of $3,390,600.00. Following the transaction, the director now directly owns 23,391 shares of the company’s stock, valued at $5,287,301.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,836 shares of company stock valued at $4,396,902. Insiders own 10.98% of the company’s stock.

Veeva Systems Stock Up 0.2 %

Veeva Systems stock opened at $199.52 on Friday. The company has a market capitalization of $32.19 billion, a PE ratio of 61.96, a P/E/G ratio of 2.01 and a beta of 0.74. The firm has a fifty day simple moving average of $221.54 and a two-hundred day simple moving average of $202.82. Veeva Systems Inc. has a twelve month low of $160.21 and a twelve month high of $236.90.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings results on Thursday, February 29th. The technology company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.11. The business had revenue of $630.62 million during the quarter, compared to the consensus estimate of $620.75 million. Veeva Systems had a net margin of 22.24% and a return on equity of 11.26%. As a group, equities analysts expect that Veeva Systems Inc. will post 4.11 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

VEEV has been the subject of a number of recent research reports. Citigroup lifted their price objective on shares of Veeva Systems from $240.00 to $264.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Stifel Nicolaus boosted their price target on shares of Veeva Systems from $205.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Robert W. Baird boosted their price target on shares of Veeva Systems from $245.00 to $251.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. UBS Group boosted their price target on shares of Veeva Systems from $185.00 to $235.00 and gave the company a “neutral” rating in a research report on Monday, February 26th. Finally, Barclays boosted their price target on shares of Veeva Systems from $240.00 to $245.00 and gave the company an “overweight” rating in a research report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $234.90.

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.