Veeva Systems Inc. (NYSE:VEEV) Stock Position Boosted by Arkadios Wealth Advisors

Arkadios Wealth Advisors raised its holdings in Veeva Systems Inc. (NYSE:VEEV) by 15.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,054 shares of the technology company’s stock after acquiring an additional 406 shares during the quarter. Arkadios Wealth Advisors’ holdings in Veeva Systems were worth $641,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Clearbridge Investments LLC lifted its holdings in Veeva Systems by 0.4% in the 2nd 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 last quarter. Western Pacific Wealth Management LP lifted its stake in Veeva Systems by 23.3% during the first quarter. Western Pacific Wealth Management LP now owns 307 shares of the technology company’s stock valued at $71,000 after buying an additional 58 shares in the last quarter. Park Place Capital Corp lifted its stake in Veeva Systems by 11.5% during the third quarter. Park Place Capital Corp now owns 574 shares of the technology company’s stock valued at $120,000 after buying an additional 59 shares in the last quarter. OV Management LLC lifted its stake in Veeva Systems by 1.0% during the second quarter. OV Management LLC now owns 6,659 shares of the technology company’s stock valued at $1,219,000 after buying an additional 63 shares in the last quarter. Finally, Simplicity Wealth LLC lifted its stake in Veeva Systems by 1.7% during the second quarter. Simplicity Wealth LLC now owns 4,029 shares of the technology company’s stock valued at $737,000 after buying an additional 69 shares in the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 2,353 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $200.00, for a total transaction of $470,600.00. Following the transaction, the senior vice president now owns 9,035 shares in the company, valued at $1,807,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 10.50% of the company’s stock.

Veeva Systems Stock Performance

NYSE:VEEV opened at $213.77 on Wednesday. The stock’s 50 day moving average price is $211.85 and its 200 day moving average price is $198.78. Veeva Systems Inc. has a 52 week low of $162.72 and a 52 week high of $236.90. The company has a market capitalization of $34.62 billion, a P/E ratio of 57.01, a P/E/G ratio of 2.06 and a beta of 0.81.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Wednesday, August 28th. The technology company reported $1.07 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 firm had revenue of $676.18 million for the quarter, compared to the consensus estimate of $667.21 million. As a group, sell-side analysts forecast that Veeva Systems Inc. will post 4.21 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on the stock. Robert W. Baird reduced their price objective on shares of Veeva Systems from $251.00 to $245.00 and set an “outperform” rating for the company in a research note on Monday. Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 price objective on shares of Veeva Systems in a research note on Thursday, August 29th. BTIG Research assumed coverage on shares of Veeva Systems in a research note on Tuesday, July 9th. They set a “buy” rating and a $240.00 price objective for the company. UBS Group upped their price objective on shares of Veeva Systems from $185.00 to $215.00 and gave the company a “neutral” rating in a research note on Monday, August 26th. Finally, Piper Sandler upped their price objective on shares of Veeva Systems from $225.00 to $230.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $232.87.

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.