Park Place Capital Corp Purchases 59 Shares of Veeva Systems Inc. (NYSE:VEEV)

Park Place Capital Corp raised its position in Veeva Systems Inc. (NYSE:VEEV) by 11.5% in the 3rd quarter, Holdings Channel reports. The firm owned 574 shares of the technology company’s stock after buying an additional 59 shares during the period. Park Place Capital Corp’s holdings in Veeva Systems were worth $120,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Veeva Systems by 7.5% during the first quarter. Vanguard Group Inc. now owns 14,150,070 shares of the technology company’s stock worth $3,278,430,000 after acquiring an additional 991,208 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Veeva Systems by 9.0% during the first quarter. Van ECK Associates Corp now owns 1,934,150 shares of the technology company’s stock worth $448,123,000 after acquiring an additional 159,085 shares in the last quarter. TD Asset Management Inc increased its position in shares of Veeva Systems by 17.5% during the first quarter. TD Asset Management Inc now owns 1,227,223 shares of the technology company’s stock worth $284,335,000 after acquiring an additional 182,762 shares in the last quarter. Swedbank AB increased its position in shares of Veeva Systems by 4.9% during the second quarter. Swedbank AB now owns 1,031,064 shares of the technology company’s stock worth $188,695,000 after acquiring an additional 48,402 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Veeva Systems by 1,122.3% during the second quarter. Principal Financial Group Inc. now owns 912,223 shares of the technology company’s stock worth $166,946,000 after acquiring an additional 837,593 shares in the last quarter. Institutional investors own 88.20% of the company’s stock.

Insider Transactions at Veeva Systems

In other news, SVP Jonathan Faddis sold 2,353 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $200.00, for a total transaction 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 10.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on VEEV. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 price objective on shares of Veeva Systems in a research report on Thursday, August 29th. Raymond James increased their price objective on shares of Veeva Systems from $230.00 to $235.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Needham & Company LLC restated a “buy” rating and set a $260.00 target price on shares of Veeva Systems in a report on Thursday, August 29th. 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. Finally, JPMorgan Chase & Co. increased their target price on shares of Veeva Systems from $203.00 to $208.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, Veeva Systems currently has an average rating of “Moderate Buy” and an average target price of $232.96.

Veeva Systems Price Performance

Shares of VEEV stock opened at $204.44 on Wednesday. The stock has a market cap of $33.10 billion, a P/E ratio of 60.31, a P/E/G ratio of 1.99 and a beta of 0.81. The company has a fifty day moving average price of $203.91 and a two-hundred day moving average price of $199.65. Veeva Systems Inc. has a one year low of $162.72 and a one year high of $236.90.

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

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.