Centaurus Financial Inc. Buys 293 Shares of Veeva Systems Inc. (NYSE:VEEV)

Centaurus Financial Inc. grew its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 28.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,335 shares of the technology company’s stock after buying an additional 293 shares during the period. Centaurus Financial Inc.’s holdings in Veeva Systems were worth $280,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Advisors Asset Management Inc. bought a new position in shares of Veeva Systems in the first quarter worth approximately $28,000. SVB Wealth LLC purchased a new stake in Veeva Systems in the first quarter worth approximately $227,000. Kennedy Capital Management LLC purchased a new stake in shares of Veeva Systems during the first quarter valued at approximately $941,000. B. Riley Wealth Advisors Inc. boosted its stake in shares of Veeva Systems by 118.0% during the first quarter. B. Riley Wealth Advisors Inc. now owns 4,887 shares of the technology company’s stock valued at $1,132,000 after purchasing an additional 2,645 shares during the period. Finally, Tidal Investments LLC boosted its stake in shares of Veeva Systems by 7.5% during the first quarter. Tidal Investments LLC now owns 8,094 shares of the technology company’s stock valued at $1,877,000 after purchasing an additional 568 shares during the period. 88.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Thomas D. Schwenger sold 1,126 shares of Veeva Systems stock in a transaction dated Friday, November 8th. The stock was 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 in the company, valued at approximately $6,483,390.13. This trade represents a 4.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Scotiabank assumed coverage on Veeva Systems in a research note on Monday, November 18th. They set a “sector perform” rating and a $235.00 price objective for the company. 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 research note on Monday, September 9th. Robert W. Baird dropped their price target on Veeva Systems from $251.00 to $245.00 and set an “outperform” rating for the company in a research note on Monday, October 28th. TD Cowen raised their price target on Veeva Systems from $180.00 to $192.00 and gave the stock a “hold” rating in a research note on Thursday, August 29th. Finally, Raymond James raised their price target on Veeva Systems from $230.00 to $235.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. One investment 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $236.92.

Veeva Systems Price Performance

Shares of NYSE:VEEV opened at $226.76 on Thursday. Veeva Systems Inc. has a 1-year low of $165.12 and a 1-year high of $240.68. The business has a fifty day moving average price of $215.20 and a 200-day moving average price of $201.66. The company has a market capitalization of $36.72 billion, a PE ratio of 60.47, a PEG ratio of 2.19 and a beta of 0.81.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings results on Wednesday, August 28th. The technology company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.03. Veeva Systems had a return on equity of 13.30% and a net margin of 23.91%. The firm had revenue of $676.18 million during the quarter, compared to the consensus estimate of $667.21 million. On average, sell-side analysts anticipate that Veeva Systems Inc. will post 4.21 earnings per share for the current fiscal year.

Veeva Systems 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.