Veeva Systems Inc. (NYSE:VEEV) Shares Purchased by Larson Financial Group LLC

Larson Financial Group LLC boosted its stake in Veeva Systems Inc. (NYSE:VEEV) by 70.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,604 shares of the technology company’s stock after purchasing an additional 663 shares during the period. Larson Financial Group LLC’s holdings in Veeva Systems were worth $337,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. General American Investors Co. Inc. purchased a new stake in shares of Veeva Systems in the 3rd quarter valued at $5,133,000. Procyon Advisors LLC purchased a new stake in Veeva Systems during the third quarter worth about $712,000. Envestnet Portfolio Solutions Inc. increased its stake in Veeva Systems by 44.9% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 29,782 shares of the technology company’s stock worth $5,450,000 after purchasing an additional 9,232 shares during the period. Principal Financial Group Inc. lifted its position in shares of Veeva Systems by 138.9% during the third quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock worth $457,366,000 after purchasing an additional 1,267,061 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. grew its holdings in shares of Veeva Systems by 3.6% in the third quarter. Oppenheimer Asset Management Inc. now owns 78,000 shares of the technology company’s stock valued at $16,370,000 after purchasing an additional 2,733 shares in the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Trading Down 0.0 %

Shares of NYSE VEEV opened at $226.88 on Wednesday. The stock has a market cap of $36.74 billion, a P/E ratio of 60.50, a P/E/G ratio of 2.09 and a beta of 0.81. Veeva Systems Inc. has a twelve month low of $165.12 and a twelve month high of $240.68. The stock has a 50 day moving average of $214.98 and a two-hundred day moving average of $201.48.

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. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. The firm had revenue of $676.18 million during the quarter, compared to the consensus estimate of $667.21 million. As a group, research analysts predict that Veeva Systems Inc. will post 4.21 earnings per share for the current year.

Insider Buying and Selling at Veeva Systems

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

Wall Street Analyst Weigh In

VEEV has been the topic of several recent research reports. Truist Financial upped their target price on shares of Veeva Systems from $197.00 to $207.00 and gave the stock a “hold” rating in a research note on Tuesday, September 3rd. Robert W. Baird reduced their price objective on Veeva Systems from $251.00 to $245.00 and set an “outperform” rating on the stock in a research note on Monday, October 28th. Citigroup boosted 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. Royal Bank of Canada increased their price target on Veeva Systems from $250.00 to $275.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Finally, Bank of America boosted their price objective 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 analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average 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.