Veeva Systems Inc. (NYSE:VEEV) Shares Purchased by Scientech Research LLC

Scientech Research LLC lifted its stake in Veeva Systems Inc. (NYSE:VEEV) by 380.3% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 11,906 shares of the technology company’s stock after purchasing an additional 9,427 shares during the quarter. Scientech Research LLC’s holdings in Veeva Systems were worth $2,179,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in VEEV. Advisors Asset Management Inc. acquired a new position in shares of Veeva Systems in the 1st quarter worth approximately $28,000. Vermillion & White Wealth Management Group LLC acquired a new stake in Veeva Systems during the 4th quarter worth approximately $32,000. Blue Trust Inc. lifted its holdings in Veeva Systems by 3,460.0% during 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. First Financial Corp IN acquired a new stake in Veeva Systems during the 1st quarter worth approximately $35,000. Finally, DT Investment Partners LLC acquired a new stake in Veeva Systems during the 2nd quarter worth approximately $35,000. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Jonathan Faddis sold 2,353 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $200.00, for a total value of $470,600.00. Following the completion of the sale, the senior vice president now owns 9,035 shares in the company, valued at approximately $1,807,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Barclays increased their target price on shares of Veeva Systems from $220.00 to $240.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Evercore ISI reduced 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. Morgan Stanley reduced their target price on shares of Veeva Systems from $210.00 to $173.00 and set an “underweight” rating on the stock in a report on Friday, May 31st. Piper Sandler increased their target price on shares of Veeva Systems from $225.00 to $230.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Finally, TD Cowen increased their price objective on shares of Veeva Systems from $180.00 to $192.00 and gave the company a “hold” rating in a research report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $229.96.

Veeva Systems Stock Performance

Shares of Veeva Systems stock opened at $209.46 on Friday. Veeva Systems Inc. has a 1 year low of $162.72 and a 1 year high of $236.90. The company has a market capitalization of $33.92 billion, a P/E ratio of 61.79, a PEG ratio of 2.02 and a beta of 0.81. The company’s fifty day moving average is $201.22 and its two-hundred day moving average is $201.23.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Wednesday, August 28th. The technology company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.03. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. The company had revenue of $676.18 million for the quarter, compared to the consensus estimate of $667.21 million. As a group, equities analysts expect that Veeva Systems Inc. will post 4.21 earnings per share 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.