Veeva Systems Inc. (NYSE:VEEV) Shares Bought by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC grew its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 3.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,479 shares of the technology company’s stock after acquiring an additional 293 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Veeva Systems were worth $2,196,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of VEEV. DSM Capital Partners LLC acquired a new position in Veeva Systems in the fourth quarter worth about $29,000. Vermillion & White Wealth Management Group LLC acquired a new position in Veeva Systems in the fourth quarter worth about $32,000. First Financial Corp IN acquired a new position in Veeva Systems in the first quarter worth about $35,000. American National Bank acquired a new position in Veeva Systems in the fourth quarter worth about $36,000. Finally, Atticus Wealth Management LLC grew its stake in Veeva Systems by 500.0% in the third quarter. Atticus Wealth Management LLC now owns 180 shares of the technology company’s stock worth $37,000 after purchasing an additional 150 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on VEEV. Morgan Stanley decreased their price target on Veeva Systems from $210.00 to $173.00 and set an “underweight” rating for the company in a research note on Friday, May 31st. Truist Financial cut their target price 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. Raymond James reissued an “outperform” rating and issued a $260.00 target price on shares of Veeva Systems in a report on Tuesday, March 26th. Evercore ISI cut their target price on shares of Veeva Systems from $230.00 to $200.00 and set an “in-line” rating on the stock in a report on Friday, May 31st. Finally, Piper Sandler cut their target price on shares of Veeva Systems from $245.00 to $235.00 and set an “overweight” rating on the stock in a report on Friday, May 31st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, Veeva Systems currently has an average rating of “Moderate Buy” and a consensus price target of $227.95.

Insider Buying and Selling

In related news, SVP Jonathan Faddis sold 3,598 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $207.42, for a total transaction of $746,297.16. Following the sale, the senior vice president now owns 10,668 shares of the company’s stock, valued at $2,212,756.56. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Veeva Systems news, CFO Timothy S. Cabral sold 15,000 shares of Veeva Systems stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 8,391 shares in the company, valued at approximately $1,546,713.03. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Jonathan Faddis sold 3,598 shares of Veeva Systems stock in a transaction on Monday, April 15th. The shares were sold at an average price of $207.42, for a total transaction of $746,297.16. Following the sale, the senior vice president now directly owns 10,668 shares of the company’s stock, valued at approximately $2,212,756.56. The disclosure for this sale can be found here. Insiders have sold a total of 21,989 shares of company stock valued at $4,192,363 over the last quarter. Corporate insiders own 10.50% of the company’s stock.

Veeva Systems Price Performance

Shares of NYSE:VEEV opened at $181.33 on Friday. Veeva Systems Inc. has a 12 month low of $162.72 and a 12 month high of $236.90. The stock has a market cap of $29.31 billion, a price-to-earnings ratio of 53.49, a PEG ratio of 1.79 and a beta of 0.80. The stock’s 50 day moving average price is $193.58 and its 200 day moving average price is $205.11.

Veeva Systems (NYSE:VEEV) last announced its earnings results on Thursday, May 30th. The technology company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.93 by $0.10. Veeva Systems had a return on equity of 12.74% and a net margin of 22.34%. The firm had revenue of $650.35 million for the quarter, compared to analysts’ expectations of $641.73 million. On average, sell-side analysts expect that Veeva Systems Inc. will post 4.19 EPS for the current year.

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.