Sanctuary Advisors LLC Acquires Shares of 6,129 Veeva Systems Inc. (NYSE:VEEV)

Sanctuary Advisors LLC acquired a new stake in Veeva Systems Inc. (NYSE:VEEV) in the second quarter, HoldingsChannel.com reports. The fund acquired 6,129 shares of the technology company’s stock, valued at approximately $1,231,000.

Other hedge funds also recently bought and sold shares of the company. Advisors Asset Management Inc. acquired a new stake in shares of Veeva Systems during the 1st quarter worth approximately $28,000. Blue Trust Inc. increased its holdings in shares of 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 during the last quarter. First Financial Corp IN acquired a new stake in shares of Veeva Systems during the 1st quarter worth approximately $35,000. DT Investment Partners LLC acquired a new stake in shares of Veeva Systems during the 2nd quarter worth approximately $35,000. Finally, Larson Financial Group LLC increased its holdings in shares of Veeva Systems by 1,153.8% during the 1st quarter. Larson Financial Group LLC now owns 163 shares of the technology company’s stock worth $38,000 after buying an additional 150 shares during the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Insider Buying and Selling

In related news, SVP Jonathan Faddis sold 2,353 shares of Veeva Systems stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $200.00, for a total transaction of $470,600.00. Following the sale, the senior vice president now directly owns 9,035 shares in the company, valued at $1,807,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 10.50% of the stock is owned by company insiders.

Veeva Systems Trading Up 1.6 %

Veeva Systems stock opened at $210.13 on Friday. The stock has a market cap of $34.03 billion, a P/E ratio of 61.05, a price-to-earnings-growth ratio of 1.99 and a beta of 0.81. The company has a fifty day simple moving average of $204.43 and a 200-day simple moving average of $199.52. 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 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 firm had revenue of $676.18 million for the quarter, compared to analyst estimates of $667.21 million. As a group, sell-side analysts forecast that Veeva Systems Inc. will post 4.21 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on VEEV. BNP Paribas began coverage on shares of Veeva Systems in a report on Tuesday. They set an “outperform” rating and a $286.00 price target for the company. 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. Truist Financial increased their price objective on shares of Veeva Systems from $197.00 to $207.00 and gave the stock a “hold” rating in a research report on Tuesday, September 3rd. Piper Sandler increased their price objective on shares of Veeva Systems from $225.00 to $230.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Finally, Robert W. Baird increased their price objective on shares of Veeva Systems from $245.00 to $251.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $232.96.

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.