Peloton Wealth Strategists Grows Holdings in Veeva Systems Inc. (NYSE:VEEV)

Peloton Wealth Strategists increased its position in Veeva Systems Inc. (NYSE:VEEV) by 2.8% in the 2nd quarter, HoldingsChannel reports. The fund owned 5,495 shares of the technology company’s stock after buying an additional 150 shares during the quarter. Peloton Wealth Strategists’ holdings in Veeva Systems were worth $1,006,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in VEEV. Advisors Asset Management Inc. bought a new position in Veeva Systems in the 1st quarter worth approximately $28,000. Vermillion & White Wealth Management Group LLC bought a new position in Veeva Systems in the 4th quarter worth approximately $32,000. Blue Trust Inc. boosted its stake 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 purchasing an additional 173 shares during the period. First Financial Corp IN bought a new position in Veeva Systems in the 1st quarter worth approximately $35,000. Finally, DT Investment Partners LLC bought a new position in Veeva Systems in the 2nd quarter worth approximately $35,000. 88.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 2,353 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 9,035 shares in the company, valued at $1,807,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 10.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have weighed in on VEEV shares. Robert W. Baird upped their price target on Veeva Systems from $245.00 to $251.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Bank of America increased their target price on Veeva Systems from $204.00 to $240.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. UBS Group increased their target price on Veeva Systems from $185.00 to $215.00 and gave the company a “neutral” rating in a research report on Monday, August 26th. TD Cowen increased their target price on Veeva Systems from $180.00 to $192.00 and gave the company a “hold” rating in a research report on Thursday, August 29th. Finally, Stifel Nicolaus lowered their target price on Veeva Systems from $250.00 to $210.00 and set a “buy” rating for the company in a research report on Friday, May 31st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $229.96.

Veeva Systems Stock Up 0.7 %

VEEV stock opened at $210.90 on Friday. The firm has a market cap of $34.15 billion, a price-to-earnings ratio of 62.21, a PEG ratio of 2.02 and a beta of 0.81. Veeva Systems Inc. has a twelve month low of $162.72 and a twelve month high of $236.90. The business’s fifty day simple moving average is $201.22 and its two-hundred day simple moving average is $201.23.

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