Veeva Systems Inc. (NYSE:VEEV) Stake Lifted by Linscomb Wealth Inc.

Linscomb Wealth Inc. increased its stake in Veeva Systems Inc. (NYSE:VEEV) by 1.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,733 shares of the technology company’s stock after acquiring an additional 123 shares during the period. Linscomb Wealth Inc.’s holdings in Veeva Systems were worth $2,253,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in VEEV. Advisors Asset Management Inc. purchased a new stake in Veeva Systems in the 1st quarter worth approximately $28,000. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in Veeva Systems in the 3rd quarter worth approximately $26,000. Blue Trust Inc. lifted its position in Veeva Systems by 3,460.0% in the 2nd quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock worth $33,000 after buying an additional 173 shares in the last quarter. DT Investment Partners LLC purchased a new stake in Veeva Systems in the 2nd quarter worth approximately $35,000. Finally, Fairscale Capital LLC purchased a new stake in Veeva Systems in the 2nd quarter worth approximately $46,000. 88.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on VEEV shares. TD Cowen raised their price target on shares of Veeva Systems from $180.00 to $192.00 and gave the company a “hold” rating in a report on Thursday, August 29th. Raymond James raised their target price on shares of Veeva Systems from $230.00 to $235.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Needham & Company LLC restated a “buy” rating and issued a $260.00 price target on shares of Veeva Systems in a research report on Friday, November 8th. UBS Group raised their price target on shares of Veeva Systems from $185.00 to $215.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Finally, Truist Financial lifted their target price on shares of Veeva Systems from $197.00 to $207.00 and gave the company a “hold” rating in a research report on Tuesday, September 3rd. 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $237.00.

Veeva Systems Stock Down 7.1 %

Veeva Systems stock opened at $213.29 on Friday. The stock has a market capitalization of $34.54 billion, a PE ratio of 56.88, a price-to-earnings-growth ratio of 2.25 and a beta of 0.81. Veeva Systems Inc. has a twelve month low of $165.12 and a twelve month high of $240.68. The company has a 50 day moving average of $215.37 and a 200-day moving average of $200.77.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Wednesday, August 28th. The technology company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.03. The business had revenue of $676.18 million for 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%. Equities analysts anticipate that Veeva Systems Inc. will post 4.21 EPS for the current fiscal year.

Insider Transactions at Veeva Systems

In other news, insider Thomas D. Schwenger sold 1,126 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $240.01, for a total value of $270,251.26. Following the transaction, the insider now directly owns 27,013 shares of the company’s stock, valued at $6,483,390.13. This represents a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 completion of the transaction, the senior vice president now owns 9,035 shares in the company, valued at $1,807,000. This trade represents a 20.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.50% of the stock is currently owned by insiders.

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.