Kingsview Wealth Management LLC Has $2.22 Million Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Kingsview Wealth Management LLC lowered its holdings in Veeva Systems Inc. (NYSE:VEEV) by 1.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,599 shares of the technology company’s stock after selling 151 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Veeva Systems were worth $2,224,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. General American Investors Co. Inc. bought a new stake in shares of Veeva Systems in the third quarter valued at about $5,133,000. Procyon Advisors LLC acquired a new position in Veeva Systems in the 3rd quarter valued at approximately $712,000. Envestnet Portfolio Solutions Inc. lifted its position in shares of Veeva Systems by 44.9% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 29,782 shares of the technology company’s stock worth $5,450,000 after acquiring an additional 9,232 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Veeva Systems by 138.9% during the 3rd quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock worth $457,366,000 after purchasing an additional 1,267,061 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. increased its position in shares of Veeva Systems by 3.6% during the third quarter. Oppenheimer Asset Management Inc. now owns 78,000 shares of the technology company’s stock valued at $16,370,000 after purchasing an additional 2,733 shares during the period. 88.20% of the stock is owned by institutional investors.

Veeva Systems Stock Performance

NYSE VEEV opened at $226.95 on Tuesday. The stock has a market capitalization of $36.75 billion, a P/E ratio of 60.52, a price-to-earnings-growth ratio of 2.09 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. The stock has a fifty day moving average of $214.74 and a 200-day moving average of $201.32.

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. Veeva Systems had a return on equity of 13.30% and a net margin of 23.91%. The firm had revenue of $676.18 million during the quarter, compared to analyst estimates of $667.21 million. Equities research analysts forecast that Veeva Systems Inc. will post 4.21 earnings per share for the current fiscal year.

Insider Activity at Veeva Systems

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,126 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $240.01, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 10.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

VEEV has been the subject of several research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 target price on shares of Veeva Systems in a research report on Friday, November 8th. Scotiabank began coverage on shares of Veeva Systems in a research note on Monday, November 18th. They issued a “sector perform” rating and a $235.00 target price on the stock. JPMorgan Chase & Co. increased their price target on shares of Veeva Systems from $203.00 to $208.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. TD Cowen lifted their price objective on Veeva Systems from $180.00 to $192.00 and gave the company a “hold” rating in a report on Thursday, August 29th. Finally, Truist Financial increased their target price on Veeva Systems from $197.00 to $207.00 and gave the stock a “hold” rating in a report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $236.92.

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.