Cetera Advisors LLC Increases Holdings in Veeva Systems Inc. (NYSE:VEEV)

Cetera Advisors LLC boosted its position in Veeva Systems Inc. (NYSE:VEEV) by 199.0% in the 1st quarter, Holdings Channel reports. The institutional investor owned 17,118 shares of the technology company’s stock after purchasing an additional 11,393 shares during the period. Cetera Advisors LLC’s holdings in Veeva Systems were worth $3,966,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Advisors Asset Management Inc. bought a new stake in shares of Veeva Systems in the 1st quarter worth approximately $28,000. DSM Capital Partners LLC purchased a new position in Veeva Systems in the 4th quarter worth $29,000. First Financial Corp IN bought a new stake in Veeva Systems in the first quarter worth $35,000. Larson Financial Group LLC boosted its position 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 buying an additional 150 shares during the period. Finally, Vermillion & White Wealth Management Group LLC bought a new position in shares of Veeva Systems during the fourth quarter valued at about $32,000. 88.20% of the stock is currently owned by institutional investors.

Insider Transactions at Veeva Systems

In related news, CFO Timothy S. Cabral sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $184.33, for a total transaction of $2,764,950.00. Following the completion of the transaction, the chief financial officer now owns 8,391 shares of the company’s stock, valued at approximately $1,546,713.03. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 10.50% of the company’s stock.

Veeva Systems Trading Down 2.1 %

Veeva Systems stock traded down $4.00 on Friday, hitting $185.14. 743,735 shares of the stock traded hands, compared to its average volume of 885,650. The business’s fifty day simple moving average is $185.57 and its 200 day simple moving average is $204.16. The firm has a market cap of $29.93 billion, a P/E ratio of 54.61, a price-to-earnings-growth ratio of 1.85 and a beta of 0.80. Veeva Systems Inc. has a 1 year low of $162.72 and a 1 year high of $236.90.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings results on Thursday, May 30th. The technology company reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.10. The company had revenue of $650.35 million during the quarter, compared to analysts’ expectations of $641.73 million. Veeva Systems had a net margin of 22.34% and a return on equity of 12.74%. As a group, analysts predict that Veeva Systems Inc. will post 4.19 earnings per share for the current year.

Analysts Set New Price Targets

VEEV has been the subject of a number of recent research reports. Barclays lowered their target price on Veeva Systems from $245.00 to $220.00 and set an “overweight” rating for the company in a research note on Friday, May 31st. UBS Group dropped their price objective on Veeva Systems from $235.00 to $185.00 and set a “neutral” rating for the company in a research note on Friday, May 31st. StockNews.com upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a report on Friday, April 12th. Robert W. Baird upped their price target on shares of Veeva Systems from $251.00 to $255.00 and gave the company an “outperform” rating in a report on Wednesday, May 29th. Finally, Truist Financial cut their price target on shares of Veeva Systems from $203.00 to $197.00 and set a “hold” rating on the stock in a report on Friday, June 14th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $228.27.

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.