Diversify Wealth Management LLC Takes $2.21 Million Position in Veeva Systems Inc. (NYSE:VEEV)

Diversify Wealth Management LLC purchased a new stake in Veeva Systems Inc. (NYSE:VEEV) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,161 shares of the technology company’s stock, valued at approximately $2,212,000.

Other institutional investors also recently modified their holdings of the company. Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of Veeva Systems during the third quarter worth approximately $26,000. Advisors Asset Management Inc. acquired a new position in shares of Veeva Systems during the 1st quarter worth approximately $28,000. Blue Trust Inc. raised its stake in shares of Veeva Systems by 3,460.0% during the 2nd quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock worth $33,000 after purchasing an additional 173 shares in the last quarter. DT Investment Partners LLC bought a new position in shares of Veeva Systems in the second quarter valued at $35,000. Finally, Larson Financial Group LLC raised its position in Veeva Systems by 1,153.8% during the first quarter. Larson Financial Group LLC now owns 163 shares of the technology company’s stock worth $38,000 after acquiring an additional 150 shares in the last quarter. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Trading Up 0.7 %

NYSE:VEEV traded up $1.44 during midday trading on Wednesday, reaching $215.29. The company had a trading volume of 120,982 shares, compared to its average volume of 938,089. The stock’s fifty day simple moving average is $211.85 and its 200-day simple moving average is $198.78. The firm has a market capitalization of $34.86 billion, a price-to-earnings ratio of 56.78, a PEG ratio of 2.06 and a beta of 0.81. Veeva Systems Inc. has a 12-month low of $162.72 and a 12-month high of $236.90.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Wednesday, August 28th. The technology company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.03. The company 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%. As a group, sell-side analysts expect that Veeva Systems Inc. will post 4.21 EPS for the current year.

Insider Activity at Veeva Systems

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

Analysts Set New Price Targets

Several research firms recently commented on VEEV. Citigroup upped their price target on shares of Veeva Systems from $256.00 to $273.00 and gave the company a “buy” rating in a research note on Tuesday, August 27th. BNP Paribas assumed coverage on shares of Veeva Systems in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $286.00 target price for the company. Robert W. Baird dropped their target price on shares of Veeva Systems from $251.00 to $245.00 and set an “outperform” rating for the company in a report on Monday. Guggenheim raised their target price on shares of Veeva Systems from $233.00 to $249.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Finally, Raymond James upped their price objective on Veeva Systems from $230.00 to $235.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $232.87.

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.