Boomfish Wealth Group LLC Raises Position in Veeva Systems Inc. (NYSE:VEEV)

Boomfish Wealth Group LLC lifted its stake in Veeva Systems Inc. (NYSE:VEEV) by 19.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,824 shares of the technology company’s stock after purchasing an additional 1,900 shares during the quarter. Boomfish Wealth Group LLC’s holdings in Veeva Systems were worth $2,164,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of VEEV. New York State Teachers Retirement System purchased a new position in shares of Veeva Systems during the fourth quarter valued at approximately $1,022,000. International Assets Investment Management LLC boosted its stake in shares of Veeva Systems by 16,580.5% during the fourth quarter. International Assets Investment Management LLC now owns 187,322 shares of the technology company’s stock valued at $36,063,000 after purchasing an additional 186,199 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Veeva Systems by 2.7% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 397,223 shares of the technology company’s stock worth $76,473,000 after buying an additional 10,316 shares during the period. Vontobel Holding Ltd. lifted its holdings in Veeva Systems by 1.2% during the 4th quarter. Vontobel Holding Ltd. now owns 28,760 shares of the technology company’s stock valued at $5,537,000 after buying an additional 341 shares in the last quarter. Finally, Capital Analysts LLC boosted its holdings in shares of Veeva Systems by 352.0% in the fourth quarter. Capital Analysts LLC now owns 678 shares of the technology company’s stock valued at $131,000 after purchasing an additional 528 shares during the period. Institutional investors own 88.20% of the company’s stock.

Analyst Upgrades and Downgrades

VEEV has been the subject of a number of recent research reports. BTIG Research assumed coverage on shares of Veeva Systems in a report on Tuesday, July 9th. They issued a “buy” rating and a $240.00 target price for the company. Guggenheim raised their price objective on Veeva Systems from $211.00 to $233.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Canaccord Genuity Group reduced their target price on Veeva Systems from $220.00 to $210.00 and set a “hold” rating on the stock in a research report on Friday, May 31st. Stifel Nicolaus decreased their price objective on shares of Veeva Systems from $250.00 to $210.00 and set a “buy” rating for the company in a research report on Friday, May 31st. Finally, Citigroup decreased their price objective on shares of Veeva Systems from $274.00 to $256.00 and set a “buy” rating for the company in a research note on Monday, June 3rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $228.27.

Veeva Systems Trading Down 0.2 %

Veeva Systems stock traded down $0.36 during midday trading on Friday, hitting $192.50. 641,758 shares of the stock were exchanged, compared to its average volume of 962,743. The stock has a market capitalization of $31.12 billion, a price-to-earnings ratio of 56.78, a PEG ratio of 1.84 and a beta of 0.80. The stock’s 50-day simple moving average is $185.54 and its 200 day simple moving average is $202.69. Veeva Systems Inc. has a fifty-two week low of $162.72 and a fifty-two week high of $236.90.

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

Insider Transactions at Veeva Systems

In other news, CFO Timothy S. Cabral sold 15,000 shares of Veeva Systems stock in a transaction on Friday, June 7th. The shares were sold at an average price of $184.33, for a total transaction of $2,764,950.00. Following the completion of the sale, the chief financial officer now directly 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 is available through the SEC website. Corporate insiders own 10.50% of the company’s stock.

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.