Federated Hermes Inc. Has $108.38 Million Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Federated Hermes Inc. lifted its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 4.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 592,187 shares of the technology company’s stock after acquiring an additional 24,689 shares during the quarter. Federated Hermes Inc.’s holdings in Veeva Systems were worth $108,376,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. bought a new stake in shares of Veeva Systems in the first quarter valued at approximately $28,000. DSM Capital Partners LLC acquired a new stake in Veeva Systems in the 4th quarter worth $29,000. Vermillion & White Wealth Management Group LLC acquired a new stake in Veeva Systems in the 4th quarter worth $32,000. Blue Trust Inc. increased its holdings in shares of Veeva Systems by 3,460.0% during the 2nd quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock worth $33,000 after purchasing an additional 173 shares during the period. Finally, First Financial Corp IN acquired a new position in shares of Veeva Systems during the first quarter valued at about $35,000. Institutional investors own 88.20% of the company’s stock.

Wall Street Analyst Weigh In

VEEV has been the topic of several research reports. Robert W. Baird boosted their price target on Veeva Systems from $245.00 to $251.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Evercore ISI lowered their price objective on Veeva Systems from $230.00 to $200.00 and set an “in-line” rating on the stock in a research report on Friday, May 31st. Citigroup upped their target price on Veeva Systems from $256.00 to $273.00 and gave the company a “buy” rating in a research note on Tuesday, August 27th. Needham & Company LLC reiterated a “buy” rating and set a $260.00 price target on shares of Veeva Systems in a research note on Thursday, August 29th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Veeva Systems from $203.00 to $208.00 and gave the company a “neutral” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $229.96.

Insider Buying and Selling at Veeva Systems

In related news, SVP Jonathan Faddis sold 2,353 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $200.00, for a total transaction of $470,600.00. Following the transaction, the senior vice president now owns 9,035 shares in the company, valued at approximately $1,807,000. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 10.50% of the company’s stock.

Veeva Systems Price Performance

Shares of VEEV opened at $219.94 on Friday. The company has a market capitalization of $35.55 billion, a P/E ratio of 64.88, a PEG ratio of 2.18 and a beta of 0.81. Veeva Systems Inc. has a one year low of $162.72 and a one year high of $236.90. The business’s 50 day simple moving average is $195.45 and its 200-day simple moving average is $202.07.

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.