Raymond James Trust N.A. Invests $231,000 in Veeva Systems Inc. (NYSE:VEEV)

Raymond James Trust N.A. bought a new stake in Veeva Systems Inc. (NYSE:VEEV) in the third quarter, Holdings Channel reports. The institutional investor bought 1,099 shares of the technology company’s stock, valued at approximately $231,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Patriot Financial Group Insurance Agency LLC grew its stake in shares of Veeva Systems by 0.7% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 6,924 shares of the technology company’s stock valued at $1,453,000 after purchasing an additional 48 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its position in Veeva Systems by 1.2% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,307 shares of the technology company’s stock valued at $904,000 after acquiring an additional 50 shares during the period. Clearbridge Investments LLC lifted its holdings in shares of Veeva Systems by 0.4% during the second quarter. Clearbridge Investments LLC now owns 11,682 shares of the technology company’s stock valued at $2,138,000 after acquiring an additional 52 shares during the period. Park Place Capital Corp boosted its stake in shares of Veeva Systems by 11.5% in the 3rd quarter. Park Place Capital Corp now owns 574 shares of the technology company’s stock valued at $120,000 after purchasing an additional 59 shares in the last quarter. Finally, Quintet Private Bank Europe S.A. grew its holdings in shares of Veeva Systems by 13.4% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 516 shares of the technology company’s stock worth $108,000 after purchasing an additional 61 shares during the last quarter. 88.20% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have commented on VEEV. Bank of America boosted their price target on shares of Veeva Systems from $204.00 to $240.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Citigroup increased their price target on Veeva Systems from $256.00 to $273.00 and gave the stock a “buy” rating in a research report on Tuesday, August 27th. Guggenheim lifted their price objective on Veeva Systems from $233.00 to $249.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. UBS Group increased their target price on Veeva Systems from $185.00 to $215.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. Finally, StockNews.com raised Veeva Systems from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $236.92.

Veeva Systems Stock Down 0.1 %

NYSE:VEEV opened at $226.76 on Friday. Veeva Systems Inc. has a 12-month low of $165.12 and a 12-month high of $240.68. The stock’s fifty day simple moving average is $215.45 and its 200-day simple moving average is $201.83. The firm has a market capitalization of $36.72 billion, a P/E ratio of 60.47, a P/E/G ratio of 2.19 and a beta of 0.81.

Veeva Systems (NYSE:VEEV) last posted its earnings results 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. The company had revenue of $676.18 million during the quarter, compared to analyst estimates of $667.21 million. Veeva Systems had a return on equity of 13.30% and a net margin of 23.91%. As a group, equities research analysts expect that Veeva Systems Inc. will post 4.21 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Thomas D. Schwenger sold 1,126 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $240.01, for a total transaction of $270,251.26. Following the sale, the insider now owns 27,013 shares of the company’s stock, valued at approximately $6,483,390.13. This trade represents a 4.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 10.50% of the stock is owned by insiders.

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.