Simmons Bank Invests $952,000 in Veeva Systems Inc. (NYSE:VEEV)

Simmons Bank purchased a new position in Veeva Systems Inc. (NYSE:VEEV) during the third quarter, Holdings Channel reports. The fund purchased 4,537 shares of the technology company’s stock, valued at approximately $952,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of Veeva Systems during the 3rd quarter valued at $26,000. Advisors Asset Management Inc. purchased a new stake in Veeva Systems during the first quarter valued at about $28,000. Blue Trust Inc. boosted its position in Veeva Systems by 3,460.0% during the second quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock worth $33,000 after purchasing an additional 173 shares during the period. DT Investment Partners LLC purchased a new position in shares of Veeva Systems in the second quarter worth about $35,000. Finally, Mather Group LLC. raised its position in shares of Veeva Systems by 166.3% in the second quarter. Mather Group LLC. now owns 253 shares of the technology company’s stock valued at $46,000 after purchasing an additional 158 shares during the period. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Trading Down 1.3 %

VEEV opened at $233.37 on Thursday. The stock has a market capitalization of $37.79 billion, a P/E ratio of 62.23, a PEG ratio of 2.28 and a beta of 0.81. The stock has a 50-day moving average price of $214.81 and a 200-day moving average price of $200.26. Veeva Systems Inc. has a 12-month low of $165.12 and a 12-month high of $240.68.

Veeva Systems (NYSE:VEEV) last released its earnings results on Wednesday, August 28th. The technology company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 13.30% and a net margin of 23.91%. On average, equities research analysts predict that Veeva Systems Inc. will post 4.21 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on VEEV. Guggenheim raised their price objective on shares of Veeva Systems from $233.00 to $249.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. JPMorgan Chase & Co. raised their price target on Veeva Systems from $203.00 to $208.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. TD Cowen lifted their price target on Veeva Systems from $180.00 to $192.00 and gave the company a “hold” rating in a research report on Thursday, August 29th. StockNews.com raised Veeva Systems from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. Finally, Piper Sandler lifted their target price on Veeva Systems from $230.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $237.00.

Insider Activity at Veeva Systems

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,126 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $240.01, for a total value of $270,251.26. Following the completion of the sale, the insider now directly owns 27,013 shares of the company’s stock, valued at $6,483,390.13. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, SVP Jonathan Faddis sold 2,353 shares of the company’s 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 completion of the sale, 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 filing with the SEC, which is available through this link. Also, insider Thomas D. Schwenger sold 1,126 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $240.01, for a total transaction of $270,251.26. Following the sale, the insider now directly owns 27,013 shares of the company’s stock, valued at $6,483,390.13. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 10.50% of the stock is owned by insiders.

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.