Trilogy Capital Inc. Increases Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Trilogy Capital Inc. raised its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 26.0% in the third quarter, Holdings Channel.com reports. The firm owned 7,306 shares of the technology company’s stock after buying an additional 1,507 shares during the period. Trilogy Capital Inc.’s holdings in Veeva Systems were worth $1,533,000 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 VEEV. Koss Olinger Consulting LLC raised its position in shares of Veeva Systems by 24.7% during the 3rd quarter. Koss Olinger Consulting LLC now owns 1,413 shares of the technology company’s stock valued at $297,000 after acquiring an additional 280 shares in the last quarter. Schaper Benz & Wise Investment Counsel Inc. WI acquired a new position in Veeva Systems during the 3rd quarter valued at about $948,000. Chicago Capital LLC boosted its position in shares of Veeva Systems by 16.6% during the third quarter. Chicago Capital LLC now owns 286,303 shares of the technology company’s stock worth $60,086,000 after buying an additional 40,692 shares during the period. Raymond James & Associates grew its stake in shares of Veeva Systems by 9.1% in the third quarter. Raymond James & Associates now owns 115,954 shares of the technology company’s stock worth $24,335,000 after purchasing an additional 9,713 shares in the last quarter. Finally, Slow Capital Inc. increased its stake in shares of Veeva Systems by 0.7% during the third quarter. Slow Capital Inc. now owns 12,234 shares of the technology company’s stock valued at $2,568,000 after acquiring an additional 80 shares during the period. Institutional investors own 88.20% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on Veeva Systems from $203.00 to $208.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. Truist Financial increased their price target on shares of Veeva Systems from $197.00 to $207.00 and gave the company a “hold” rating in a report on Tuesday, September 3rd. Citigroup lifted their price objective on Veeva Systems from $256.00 to $273.00 and gave the company a “buy” rating in a report on Tuesday, August 27th. UBS Group boosted their price objective on shares of Veeva Systems from $185.00 to $215.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Finally, Bank of America raised their price target on Veeva Systems from $204.00 to $240.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $232.96.

Veeva Systems Stock Performance

Shares of VEEV stock opened at $221.93 on Tuesday. The firm’s 50-day moving average is $209.12 and its 200-day moving average is $198.69. The stock has a market cap of $35.94 billion, a price-to-earnings ratio of 59.18, 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 released its quarterly 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 for the quarter, compared to the consensus estimate of $667.21 million. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. Sell-side analysts predict that Veeva Systems Inc. will post 4.21 EPS for the current fiscal year.

Insiders Place Their Bets

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 transaction, the senior vice president now directly owns 9,035 shares in the company, valued at approximately $1,807,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 10.50% of the company’s stock.

Veeva Systems Company 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.