Veeva Systems Inc. (NYSE:VEEV) is Fairman Group LLC’s 5th Largest Position

Fairman Group LLC lifted its holdings in Veeva Systems Inc. (NYSE:VEEV) by 120.3% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,065 shares of the technology company’s stock after buying an additional 14,778 shares during the period. Veeva Systems makes up approximately 5.1% of Fairman Group LLC’s portfolio, making the stock its 5th biggest holding. Fairman Group LLC’s holdings in Veeva Systems were worth $5,680,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Advisors Asset Management Inc. bought a new stake in Veeva Systems in the first quarter worth about $28,000. First Financial Corp IN purchased a new position in Veeva Systems in the first quarter valued at approximately $35,000. Larson Financial Group LLC grew its holdings in Veeva Systems by 1,153.8% during the first quarter. Larson Financial Group LLC now owns 163 shares of the technology company’s stock valued at $38,000 after purchasing an additional 150 shares during the period. Blue Trust Inc. increased its position in Veeva Systems by 3,460.0% in the second quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock worth $33,000 after buying an additional 173 shares during the last quarter. Finally, DT Investment Partners LLC purchased a new position in shares of Veeva Systems during the 2nd quarter valued at $35,000. 88.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on VEEV shares. Raymond James lifted their price objective on Veeva Systems from $230.00 to $235.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Citigroup upped their price target on shares of Veeva Systems from $256.00 to $273.00 and gave the company a “buy” rating in a research note on Tuesday, August 27th. UBS Group lifted their price objective on shares of Veeva Systems from $185.00 to $215.00 and gave the company a “neutral” rating in a research note on Monday, August 26th. Royal Bank of Canada restated an “outperform” rating and set a $250.00 target price on shares of Veeva Systems in a research report on Thursday, August 29th. Finally, Piper Sandler lifted their price target on Veeva Systems from $225.00 to $230.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, Veeva Systems has an average rating of “Moderate Buy” and an average price target of $232.96.

Insider Activity

In related news, SVP Jonathan Faddis sold 2,353 shares of the stock in a transaction dated 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 sale, the senior vice president now directly owns 9,035 shares in the company, valued at $1,807,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 10.50% of the company’s stock.

Veeva Systems Price Performance

NYSE:VEEV opened at $218.25 on Thursday. The company has a market capitalization of $35.34 billion, a price-to-earnings ratio of 58.05, a PEG ratio of 2.13 and a beta of 0.81. The business has a 50 day moving average of $210.29 and a 200 day moving average of $198.85. Veeva Systems Inc. has a 1-year low of $162.72 and a 1-year high of $236.90.

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