Metis Global Partners LLC Purchases 584 Shares of Veeva Systems Inc. (NYSE:VEEV)

Metis Global Partners LLC grew its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 13.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 5,057 shares of the technology company’s stock after buying an additional 584 shares during the period. Metis Global Partners LLC’s holdings in Veeva Systems were worth $1,061,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Snider Financial Group grew its stake in shares of Veeva Systems by 1.1% in the 3rd quarter. Snider Financial Group now owns 14,769 shares of the technology company’s stock worth $3,100,000 after buying an additional 160 shares during the last quarter. Huntington National Bank increased its holdings in shares of Veeva Systems by 19.8% during the third quarter. Huntington National Bank now owns 1,559 shares of the technology company’s stock valued at $327,000 after acquiring an additional 258 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of Veeva Systems by 3.6% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 78,000 shares of the technology company’s stock worth $16,370,000 after purchasing an additional 2,733 shares during the last quarter. Hartline Investment Corp boosted its stake in Veeva Systems by 6.2% in the 3rd quarter. Hartline Investment Corp now owns 8,106 shares of the technology company’s stock worth $1,701,000 after purchasing an additional 475 shares in the last quarter. Finally, Simmons Bank purchased a new stake in Veeva Systems during the 3rd quarter valued at about $952,000. 88.20% of the stock is owned by hedge funds and other institutional investors.

Veeva Systems Stock Down 7.1 %

Shares of VEEV opened at $213.36 on Monday. The business has a fifty day moving average of $215.37 and a 200 day moving average of $200.80. The company has a market cap of $34.55 billion, a PE ratio of 56.90, a P/E/G ratio of 2.06 and a beta of 0.81. Veeva Systems Inc. has a 52-week low of $165.12 and a 52-week high of $240.68.

Veeva Systems (NYSE:VEEV) last released its earnings results on Wednesday, August 28th. The technology company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.03. The firm had revenue of $676.18 million during the quarter, compared to analyst estimates of $667.21 million. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. As a group, research analysts anticipate that Veeva Systems Inc. will post 4.21 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently weighed in on VEEV. Citigroup raised their price target on shares of Veeva Systems from $256.00 to $273.00 and gave the company a “buy” rating in a research report on Tuesday, August 27th. Barclays boosted their target price on Veeva Systems from $240.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Robert W. Baird lowered their target price on shares of Veeva Systems from $251.00 to $245.00 and set an “outperform” rating on the stock in a research note on Monday, October 28th. Truist Financial lifted their price target on shares of Veeva Systems from $197.00 to $207.00 and gave the stock a “hold” rating in a research note on Tuesday, September 3rd. Finally, Royal Bank of Canada boosted their target price on shares of Veeva Systems from $250.00 to $275.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $237.00.

Insider Buying and Selling at Veeva Systems

In related news, SVP Jonathan Faddis sold 2,353 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $200.00, for a total transaction of $470,600.00. Following the completion of the transaction, the senior vice president now owns 9,035 shares in the company, valued at $1,807,000. The trade was a 20.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thomas D. Schwenger sold 1,126 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $240.01, for a total value of $270,251.26. Following the completion of the sale, the insider now owns 27,013 shares in the company, valued at approximately $6,483,390.13. The trade was a 4.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 10.50% of the company’s stock.

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.