Rockland Trust Co. Has $22.55 Million Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Rockland Trust Co. boosted its holdings in Veeva Systems Inc. (NYSE:VEEV) by 6.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 107,442 shares of the technology company’s stock after purchasing an additional 6,385 shares during the quarter. Rockland Trust Co.’s holdings in Veeva Systems were worth $22,549,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in VEEV. Advisors Asset Management Inc. bought a new stake in shares of Veeva Systems in the 1st quarter valued at $28,000. Vermillion & White Wealth Management Group LLC bought a new stake in Veeva Systems in the fourth quarter valued at $32,000. Blue Trust Inc. increased its stake in Veeva Systems by 3,460.0% in the second quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock valued at $33,000 after purchasing an additional 173 shares in the last quarter. First Financial Corp IN acquired a new position in shares of Veeva Systems during the first quarter valued at about $35,000. Finally, DT Investment Partners LLC bought a new position in shares of Veeva Systems during the 2nd quarter worth about $35,000. 88.20% of the stock is currently owned by institutional investors.

Insider Activity at Veeva Systems

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

Wall Street Analyst Weigh In

A number of analysts recently commented on VEEV shares. TD Cowen boosted 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. JPMorgan Chase & Co. increased their target price on Veeva Systems from $203.00 to $208.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. Needham & Company LLC reissued a “buy” rating and issued a $260.00 price target on shares of Veeva Systems in a research report on Thursday, August 29th. BTIG Research began coverage on shares of Veeva Systems in a report on Tuesday, July 9th. They set a “buy” rating and a $240.00 price objective on the stock. Finally, UBS Group lifted their price objective on shares of Veeva Systems from $185.00 to $215.00 and gave the company a “neutral” rating in a report on Monday, August 26th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $230.65.

Veeva Systems Stock Performance

Shares of NYSE:VEEV opened at $204.46 on Friday. The company has a market capitalization of $33.11 billion, a P/E ratio of 60.31, a price-to-earnings-growth ratio of 2.05 and a beta of 0.81. The company’s 50-day moving average is $203.47 and its 200 day moving average is $200.45. Veeva Systems Inc. has a fifty-two week low of $162.72 and a fifty-two week high of $236.90.

Veeva Systems (NYSE:VEEV) last released its earnings results on Wednesday, August 28th. The technology company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.03. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. The firm had revenue of $676.18 million for the quarter, compared to analysts’ expectations of $667.21 million. As a group, research analysts predict that Veeva Systems Inc. will post 4.21 earnings per share for the current year.

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.