Procyon Advisors LLC Makes New Investment in Veeva Systems Inc. (NYSE:VEEV)

Procyon Advisors LLC purchased a new position in shares of Veeva Systems Inc. (NYSE:VEEV) in the third quarter, Holdings Channel reports. The fund purchased 3,391 shares of the technology company’s stock, valued at approximately $712,000.

A number of other institutional investors also recently bought and sold shares of VEEV. EP Wealth Advisors LLC purchased a new position in Veeva Systems during the 4th quarter worth approximately $202,000. SageView Advisory Group LLC acquired a new stake in shares of Veeva Systems during the 4th quarter worth approximately $320,000. HighPoint Advisor Group LLC acquired a new stake in shares of Veeva Systems during the 4th quarter worth approximately $380,000. Symmetry Partners LLC acquired a new stake in shares of Veeva Systems during the 1st quarter worth approximately $257,000. Finally, NBC Securities Inc. acquired a new stake in shares of Veeva Systems during the 1st quarter worth approximately $283,000. 88.20% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Veeva Systems

In other news, SVP Jonathan Faddis sold 2,353 shares of Veeva Systems stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $200.00, for a total transaction of $470,600.00. Following the transaction, the senior vice president now owns 9,035 shares in the company, valued at $1,807,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 10.50% of the company’s stock.

Veeva Systems Stock Down 0.2 %

NYSE VEEV opened at $210.10 on Wednesday. Veeva Systems Inc. has a 52 week low of $162.72 and a 52 week high of $236.90. The business’s fifty day simple moving average is $206.36 and its 200-day simple moving average is $198.69. The firm has a market cap of $33.96 billion, a PE ratio of 61.98, a P/E/G ratio of 2.04 and a beta of 0.81.

Veeva Systems (NYSE:VEEV) last posted 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 return on equity of 13.30% and a net margin of 23.91%. The business had revenue of $676.18 million for the quarter, compared to analyst estimates of $667.21 million. Research analysts expect that Veeva Systems Inc. will post 4.21 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on VEEV. BTIG Research began coverage on shares of Veeva Systems in a research note on Tuesday, July 9th. They set a “buy” rating and a $240.00 price objective on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 price objective on shares of Veeva Systems in a research note on Thursday, August 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 price objective on shares of Veeva Systems in a research note on Thursday, August 29th. UBS Group raised their price objective on shares of Veeva Systems from $185.00 to $215.00 and gave the stock a “neutral” rating in a research note on Monday, August 26th. Finally, Piper Sandler lifted their price target on shares of Veeva Systems from $225.00 to $230.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $232.96.

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.