Veeva Systems Inc. (NYSE:VEEV) Shares Bought by HF Advisory Group LLC

HF Advisory Group LLC grew its position in Veeva Systems Inc. (NYSE:VEEV) by 9.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,316 shares of the technology company’s stock after buying an additional 299 shares during the quarter. HF Advisory Group LLC’s holdings in Veeva Systems were worth $696,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on VEEV. TD Cowen lifted their price objective on Veeva Systems from $180.00 to $192.00 and gave the company a “hold” rating in a research note on Thursday, August 29th. Bank of America lifted their price target on shares of Veeva Systems from $204.00 to $240.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Robert W. Baird dropped their price objective on shares of Veeva Systems from $251.00 to $245.00 and set an “outperform” rating on the stock in a research report on Monday, October 28th. BNP Paribas assumed coverage on shares of Veeva Systems in a research report on Tuesday, October 8th. They set an “outperform” rating and a $286.00 price objective for the company. Finally, Guggenheim increased their target price on Veeva Systems from $233.00 to $249.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $232.87.

Insiders Place Their Bets

In other 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 transaction of $470,600.00. Following the completion of the transaction, the senior vice president now directly owns 9,035 shares of the company’s stock, 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 at this hyperlink. 10.50% of the stock is currently owned by company insiders.

Veeva Systems Trading Up 0.0 %

Shares of Veeva Systems stock opened at $212.64 on Wednesday. The company has a 50-day moving average of $213.14 and a two-hundred day moving average of $199.22. Veeva Systems Inc. has a 12-month low of $162.72 and a 12-month high of $236.90. The stock has a market cap of $34.43 billion, a PE ratio of 56.70, a price-to-earnings-growth ratio of 2.07 and a beta of 0.81.

Veeva Systems (NYSE:VEEV) last posted its earnings results 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 company had revenue of $676.18 million for the quarter, compared to the consensus estimate of $667.21 million. On average, sell-side analysts forecast that Veeva Systems Inc. will post 4.21 EPS for the current fiscal year.

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.