LifePlan Financial LLC Sells 98 Shares of Veeva Systems Inc. (NYSE:VEEV)

LifePlan Financial LLC decreased its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 5.3% in the third quarter, Holdings Channel reports. The firm owned 1,736 shares of the technology company’s stock after selling 98 shares during the quarter. LifePlan Financial LLC’s holdings in Veeva Systems were worth $364,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in VEEV. Rafferty Asset Management LLC boosted its stake in shares of Veeva Systems by 24.0% in the 4th quarter. Rafferty Asset Management LLC now owns 15,899 shares of the technology company’s stock valued at $3,061,000 after purchasing an additional 3,077 shares in the last quarter. Cibc World Markets Corp bought a new stake in Veeva Systems during the fourth quarter worth about $13,525,000. Pinebridge Investments L.P. increased its holdings in shares of Veeva Systems by 71.9% during the fourth quarter. Pinebridge Investments L.P. now owns 61,500 shares of the technology company’s stock worth $11,840,000 after buying an additional 25,726 shares in the last quarter. Epoch Investment Partners Inc. raised its stake in shares of Veeva Systems by 104.2% in the fourth quarter. Epoch Investment Partners Inc. now owns 445,047 shares of the technology company’s stock valued at $85,680,000 after acquiring an additional 227,109 shares during the last quarter. Finally, Prudential PLC boosted its holdings in shares of Veeva Systems by 86.4% in the 4th quarter. Prudential PLC now owns 67,992 shares of the technology company’s stock worth $13,090,000 after acquiring an additional 31,517 shares in the last quarter. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Down 1.5 %

VEEV opened at $204.46 on Friday. The company has a fifty day simple moving average of $203.47 and a 200 day simple moving average of $200.45. The stock has a market cap of $33.11 billion, a P/E ratio of 60.31, a P/E/G ratio of 2.05 and a beta of 0.81. Veeva Systems Inc. has a 12 month low of $162.72 and a 12 month high of $236.90.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings results 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 return on equity of 13.30% and a net margin of 23.91%. The company had revenue of $676.18 million during the quarter, compared to the consensus estimate of $667.21 million. On average, equities research analysts expect that Veeva Systems Inc. will post 4.21 earnings per share for the current fiscal year.

Insider Activity

In other Veeva Systems news, SVP Jonathan Faddis sold 2,353 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $200.00, for a total value of $470,600.00. Following 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 is available at this hyperlink. Corporate insiders own 10.50% of the company’s stock.

Analyst Upgrades and Downgrades

VEEV has been the subject of a number of recent analyst reports. TD Cowen raised their price target on Veeva Systems from $180.00 to $192.00 and gave the company a “hold” rating in a report on Thursday, August 29th. Guggenheim increased their price objective on shares of Veeva Systems from $233.00 to $249.00 and gave the stock a “buy” rating in a report on Tuesday. Citigroup boosted their target price on shares of Veeva Systems from $256.00 to $273.00 and gave the stock a “buy” rating in a research note on Tuesday, August 27th. BTIG Research assumed coverage on shares of Veeva Systems in a research note on Tuesday, July 9th. They set a “buy” rating and a $240.00 price target on the stock. Finally, JPMorgan Chase & Co. upped their price objective on Veeva Systems from $203.00 to $208.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, Veeva Systems currently has an average rating of “Moderate Buy” and a consensus price target of $230.65.

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.