OneDigital Investment Advisors LLC Raises Stock Position in Veeva Systems Inc. (NYSE:VEEV)

OneDigital Investment Advisors LLC grew its position in Veeva Systems Inc. (NYSE:VEEV) by 7.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,909 shares of the technology company’s stock after buying an additional 130 shares during the period. OneDigital Investment Advisors LLC’s holdings in Veeva Systems were worth $401,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. raised its holdings in Veeva Systems by 138.9% in the 3rd quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock valued at $457,366,000 after buying an additional 1,267,061 shares during the period. Van ECK Associates Corp boosted its position in shares of Veeva Systems by 3.7% during the 3rd quarter. Van ECK Associates Corp now owns 1,995,006 shares of the technology company’s stock worth $434,372,000 after purchasing an additional 71,525 shares during the period. Swedbank AB increased its holdings in Veeva Systems by 4.9% in the 2nd quarter. Swedbank AB now owns 1,031,064 shares of the technology company’s stock valued at $188,695,000 after purchasing an additional 48,402 shares during the last quarter. Federated Hermes Inc. raised its position in Veeva Systems by 4.4% in the second quarter. Federated Hermes Inc. now owns 592,187 shares of the technology company’s stock valued at $108,376,000 after purchasing an additional 24,689 shares during the period. Finally, Epoch Investment Partners Inc. raised its position in Veeva Systems by 20.7% in the first quarter. Epoch Investment Partners Inc. now owns 537,329 shares of the technology company’s stock valued at $124,494,000 after purchasing an additional 92,282 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Stock Performance

NYSE:VEEV opened at $214.22 on Friday. The stock has a market cap of $34.69 billion, a price-to-earnings ratio of 57.13, a PEG ratio of 2.03 and a beta of 0.81. The business has a fifty day moving average of $214.57 and a 200-day moving average of $201.09. Veeva Systems Inc. has a 1 year low of $165.12 and a 1 year high of $240.68.

Veeva Systems (NYSE:VEEV) last released its earnings results on Wednesday, August 28th. The technology company reported $1.07 EPS for the quarter, beating the consensus estimate of $1.04 by $0.03. The business had revenue of $676.18 million during the quarter, compared to analyst estimates of $667.21 million. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. On average, equities research analysts predict that Veeva Systems Inc. will post 4.21 EPS for the current year.

Insider Activity at Veeva Systems

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,126 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $240.01, for a total value of $270,251.26. Following the completion of the sale, the insider now owns 27,013 shares of the company’s stock, valued at $6,483,390.13. The trade was a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 10.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on VEEV. Citigroup increased their target price on Veeva Systems from $256.00 to $273.00 and gave the stock a “buy” rating in a research note on Tuesday, August 27th. JPMorgan Chase & Co. raised their price objective on shares of Veeva Systems from $203.00 to $208.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. Scotiabank started coverage on shares of Veeva Systems in a report on Monday. They issued a “sector perform” rating and a $235.00 price objective for the company. UBS Group increased their target price on shares of Veeva Systems from $185.00 to $215.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. Finally, BNP Paribas began coverage on shares of Veeva Systems in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $286.00 price target for the company. One analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Veeva Systems currently has a consensus rating of “Moderate Buy” and an average target price of $236.92.

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.