Atria Investments Inc Acquires 1,811 Shares of Veeva Systems Inc. (NYSE:VEEV)

Atria Investments Inc raised its stake in Veeva Systems Inc. (NYSE:VEEV) by 13.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,999 shares of the technology company’s stock after acquiring an additional 1,811 shares during the period. Atria Investments Inc’s holdings in Veeva Systems were worth $3,148,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Bridges Investment Management Inc. acquired a new position in Veeva Systems in the third quarter valued at about $269,000. Assetmark Inc. raised its position in shares of Veeva Systems by 46.4% in the 3rd quarter. Assetmark Inc. now owns 48,205 shares of the technology company’s stock valued at $10,117,000 after buying an additional 15,289 shares in the last quarter. Verdence Capital Advisors LLC lifted its holdings in shares of Veeva Systems by 4.8% during the 3rd quarter. Verdence Capital Advisors LLC now owns 5,065 shares of the technology company’s stock worth $1,063,000 after acquiring an additional 230 shares during the period. Washington Trust Advisors Inc. boosted its position in shares of Veeva Systems by 1.1% during the 3rd quarter. Washington Trust Advisors Inc. now owns 46,530 shares of the technology company’s stock worth $9,765,000 after acquiring an additional 499 shares in the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc increased its stake in Veeva Systems by 0.7% in the third quarter. AEGON ASSET MANAGEMENT UK Plc now owns 106,921 shares of the technology company’s stock valued at $22,434,000 after acquiring an additional 722 shares during the last quarter. 88.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on VEEV shares. Robert W. Baird cut their target price on Veeva Systems from $251.00 to $245.00 and set an “outperform” rating for the company in a research note on Monday, October 28th. Royal Bank of Canada raised their price objective on Veeva Systems from $250.00 to $275.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Bank of America lifted their target price on Veeva Systems from $204.00 to $240.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Piper Sandler increased their target price on shares of Veeva Systems from $230.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Finally, BNP Paribas initiated coverage on shares of Veeva Systems in a report on Tuesday, October 8th. They set an “outperform” rating and a $286.00 price target on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $237.00.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 2,353 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were 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 directly owns 9,035 shares in the company, valued at approximately $1,807,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Veeva Systems news, insider Thomas D. Schwenger sold 1,126 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $240.01, for a total value of $270,251.26. Following the transaction, the insider now directly owns 27,013 shares of the company’s stock, valued at approximately $6,483,390.13. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jonathan Faddis sold 2,353 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was 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 $1,807,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 10.50% of the company’s stock.

Veeva Systems Stock Down 1.3 %

VEEV opened at $233.37 on Thursday. Veeva Systems Inc. has a twelve month low of $165.12 and a twelve month high of $240.68. The company has a fifty day moving average of $214.81 and a 200-day moving average of $200.26. The stock has a market cap of $37.79 billion, a PE ratio of 62.60, a price-to-earnings-growth ratio of 2.28 and a beta of 0.81.

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

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.