Veeva Systems Inc. (NYSE:VEEV) Shares Purchased by Bleakley Financial Group LLC

Bleakley Financial Group LLC grew its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 11.0% during the third quarter, Holdings Channel reports. The firm owned 4,476 shares of the technology company’s stock after acquiring an additional 445 shares during the quarter. Bleakley Financial Group LLC’s holdings in Veeva Systems were worth $939,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. nVerses Capital LLC lifted its holdings in Veeva Systems by 11.9% in the third quarter. nVerses Capital LLC now owns 4,700 shares of the technology company’s stock worth $986,000 after acquiring an additional 500 shares during the last quarter. Vontobel Holding Ltd. raised its position in shares of Veeva Systems by 6.1% during the 3rd quarter. Vontobel Holding Ltd. now owns 23,829 shares of the technology company’s stock worth $5,001,000 after purchasing an additional 1,380 shares during the period. NBC Securities Inc. lifted its holdings in shares of Veeva Systems by 8.4% in the 3rd quarter. NBC Securities Inc. now owns 1,347 shares of the technology company’s stock worth $282,000 after purchasing an additional 104 shares during the last quarter. Procyon Advisors LLC acquired a new position in Veeva Systems during the 3rd quarter valued at approximately $712,000. Finally, Thomasville National Bank grew its stake in Veeva Systems by 3.2% during the 3rd quarter. Thomasville National Bank now owns 80,778 shares of the technology company’s stock worth $16,953,000 after buying an additional 2,501 shares during the last quarter. 88.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

VEEV has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Veeva Systems from $203.00 to $208.00 and gave the company a “neutral” rating in a report on Monday, September 9th. Citigroup upped their target price on shares of Veeva Systems from $256.00 to $273.00 and gave the stock a “buy” rating in a research report on Tuesday, August 27th. BNP Paribas initiated coverage on Veeva Systems in a report on Tuesday, October 8th. They set an “outperform” rating and a $286.00 price target on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 price objective on shares of Veeva Systems in a report on Thursday, August 29th. Finally, TD Cowen lifted their target price on Veeva Systems from $180.00 to $192.00 and gave the company a “hold” rating in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $232.96.

Veeva Systems Stock Up 2.0 %

Shares of NYSE VEEV opened at $221.32 on Monday. The stock’s fifty day simple moving average is $208.39 and its 200 day simple moving average is $198.64. The stock has a market capitalization of $35.84 billion, a price-to-earnings ratio of 59.02, a PEG ratio of 2.15 and a beta of 0.81. Veeva Systems Inc. has a 52-week low of $162.72 and a 52-week high of $236.90.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings data 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 firm had revenue of $676.18 million for the quarter, compared to the consensus estimate of $667.21 million. As a group, analysts anticipate that Veeva Systems Inc. will post 4.21 earnings per share for the current year.

Insider Buying and Selling

In other news, SVP Jonathan Faddis sold 2,353 shares of the 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 owns 9,035 shares in the company, valued at $1,807,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 10.50% of the company’s stock.

Veeva Systems 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.