Americana Partners LLC Grows Position in Veeva Systems Inc. (NYSE:VEEV)

Americana Partners LLC lifted its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 42.3% in the third quarter, Holdings Channel reports. The firm owned 1,574 shares of the technology company’s stock after purchasing an additional 468 shares during the period. Americana Partners LLC’s holdings in Veeva Systems were worth $330,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Shepherd Financial Partners LLC grew its stake in Veeva Systems by 1.7% during the third quarter. Shepherd Financial Partners LLC now owns 3,752 shares of the technology company’s stock worth $787,000 after buying an additional 62 shares during the period. Stephens Investment Management Group LLC lifted its holdings in shares of Veeva Systems by 7.9% during the 3rd quarter. Stephens Investment Management Group LLC now owns 66,369 shares of the technology company’s stock valued at $13,929,000 after acquiring an additional 4,855 shares in the last quarter. US Bancorp DE boosted its position in Veeva Systems by 25.5% during the 3rd quarter. US Bancorp DE now owns 112,156 shares of the technology company’s stock worth $23,538,000 after purchasing an additional 22,755 shares during the period. Diversify Wealth Management LLC acquired a new stake in Veeva Systems in the 3rd quarter valued at $2,212,000. Finally, First Trust Direct Indexing L.P. raised its position in Veeva Systems by 63.5% in the third quarter. First Trust Direct Indexing L.P. now owns 2,424 shares of the technology company’s stock valued at $509,000 after purchasing an additional 941 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Stock Up 1.9 %

Shares of NYSE VEEV opened at $212.78 on Friday. The stock has a market capitalization of $34.46 billion, a P/E ratio of 56.74, a P/E/G ratio of 2.03 and a beta of 0.81. The firm’s 50-day moving average price is $212.62 and its two-hundred day moving average price is $199.03. 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 data on Wednesday, August 28th. The technology company reported $1.07 earnings per share (EPS) for the quarter, beating 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 business had revenue of $676.18 million during the quarter, compared to analyst estimates of $667.21 million. As a group, equities research analysts expect that Veeva Systems Inc. will post 4.21 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on VEEV. BNP Paribas assumed coverage on Veeva Systems in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $286.00 target price for the company. Raymond James increased their price objective on shares of Veeva Systems from $230.00 to $235.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Citigroup upped their target price 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. Bank of America raised their price target on shares of Veeva Systems from $204.00 to $240.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Finally, StockNews.com cut shares of Veeva Systems from a “buy” rating to a “hold” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $232.87.

Insider Transactions at Veeva Systems

In related news, SVP Jonathan Faddis sold 2,353 shares of Veeva Systems stock in a transaction dated 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 in the company, valued at $1,807,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 10.50% of the company’s stock.

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.