Stephens Inc. AR Decreases Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Stephens Inc. AR lessened its holdings in Veeva Systems Inc. (NYSE:VEEV) by 7.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,788 shares of the technology company’s stock after selling 139 shares during the period. Stephens Inc. AR’s holdings in Veeva Systems were worth $375,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Procyon Advisors LLC purchased a new stake in shares of Veeva Systems in the third quarter valued at about $712,000. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Veeva Systems by 44.9% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 29,782 shares of the technology company’s stock valued at $5,450,000 after purchasing an additional 9,232 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Veeva Systems by 46.9% in the first quarter. CANADA LIFE ASSURANCE Co now owns 132,760 shares of the technology company’s stock valued at $30,786,000 after purchasing an additional 42,396 shares in the last quarter. SageView Advisory Group LLC lifted its holdings in shares of Veeva Systems by 11,010.4% in the first quarter. SageView Advisory Group LLC now owns 168,545 shares of the technology company’s stock valued at $39,050,000 after purchasing an additional 167,028 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Veeva Systems by 13.0% in the first quarter. Russell Investments Group Ltd. now owns 178,851 shares of the technology company’s stock valued at $41,506,000 after purchasing an additional 20,523 shares in the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Insider Activity

In other Veeva Systems news, SVP Jonathan Faddis sold 2,353 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $200.00, for a total transaction of $470,600.00. Following the transaction, the senior vice president now directly owns 9,035 shares in the company, valued at $1,807,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 10.50% of the company’s stock.

Veeva Systems Stock Up 3.2 %

Veeva Systems stock opened at $223.39 on Friday. Veeva Systems Inc. has a 52-week low of $162.72 and a 52-week high of $236.90. The firm has a fifty day moving average of $213.48 and a 200-day moving average of $199.34. The firm has a market capitalization of $36.17 billion, a P/E ratio of 59.39, a PEG ratio of 2.07 and a beta of 0.81.

Veeva Systems (NYSE:VEEV) last announced its earnings results on Wednesday, August 28th. The technology company reported $1.07 earnings per share 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 the consensus estimate of $667.21 million. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. On average, research analysts expect that Veeva Systems Inc. will post 4.21 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on VEEV shares. JPMorgan Chase & Co. boosted their price objective on shares of Veeva Systems from $203.00 to $208.00 and gave the company a “neutral” rating in a research report on Monday, September 9th. Needham & Company LLC reissued a “buy” rating and issued a $260.00 price objective on shares of Veeva Systems in a research report on Thursday, August 29th. BNP Paribas started coverage on shares of Veeva Systems in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $286.00 price objective for the company. Piper Sandler boosted their price objective on shares of Veeva Systems from $225.00 to $230.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Finally, Truist Financial boosted their price objective on shares of Veeva Systems from $197.00 to $207.00 and gave the company a “hold” rating in a research report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $232.87.

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.