BLB&B Advisors LLC Has $211,000 Stock Position in Veeva Systems Inc. (NYSE:VEEV)

BLB&B Advisors LLC lessened its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 30.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,006 shares of the technology company’s stock after selling 442 shares during the quarter. BLB&B Advisors LLC’s holdings in Veeva Systems were worth $211,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Advisors Asset Management Inc. acquired a new stake in Veeva Systems during the 1st quarter worth $28,000. Blue Trust Inc. increased its holdings 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 during the last quarter. First Financial Corp IN acquired a new position in Veeva Systems in the first quarter valued at about $35,000. DT Investment Partners LLC bought a new position in Veeva Systems during the second quarter worth about $35,000. Finally, Larson Financial Group LLC grew its position 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 period. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Performance

VEEV opened at $217.68 on Thursday. The business’s 50-day simple moving average is $210.29 and its 200 day simple moving average is $198.85. Veeva Systems Inc. has a 52-week low of $162.72 and a 52-week high of $236.90. The firm has a market capitalization of $35.19 billion, a PE ratio of 64.21, a PEG ratio of 2.15 and a beta of 0.81.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data 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. Veeva Systems had a return on equity of 13.30% and a net margin of 23.91%. The company had revenue of $676.18 million for the quarter, compared to analysts’ expectations of $667.21 million. On average, research analysts forecast that Veeva Systems Inc. will post 4.21 earnings per share for the current year.

Insider Buying and Selling at Veeva Systems

In other news, SVP Jonathan Faddis sold 2,353 shares of the business’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 transaction, the senior vice president now directly 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 document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 10.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on VEEV. JPMorgan Chase & Co. increased their price target on shares of Veeva Systems from $203.00 to $208.00 and gave the company a “neutral” rating in a research report on Monday, September 9th. Robert W. Baird lifted their price target 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. Citigroup upped their price objective on shares of Veeva Systems from $256.00 to $273.00 and gave the company a “buy” rating in a research report on Tuesday, August 27th. TD Cowen lifted their target price on Veeva Systems from $180.00 to $192.00 and gave the stock a “hold” rating in a report on Thursday, August 29th. Finally, Raymond James increased their price target on Veeva Systems from $230.00 to $235.00 and gave the stock an “outperform” rating in a 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 issued a buy rating to the company. According to data from MarketBeat.com, Veeva Systems presently has a consensus rating of “Moderate Buy” and a consensus price target 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.