1,042 Shares in Veeva Systems Inc. (NYSE:VEEV) Bought by RKL Wealth Management LLC

RKL Wealth Management LLC acquired a new position in shares of Veeva Systems Inc. (NYSE:VEEV) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,042 shares of the technology company’s stock, valued at approximately $219,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. General American Investors Co. Inc. purchased a new stake in shares of Veeva Systems during the third quarter worth $5,133,000. Procyon Advisors LLC acquired a new position in Veeva Systems during the third quarter worth $712,000. Envestnet Portfolio Solutions Inc. increased its position in Veeva Systems by 44.9% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 29,782 shares of the technology company’s stock worth $5,450,000 after buying an additional 9,232 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Veeva Systems by 138.9% in the third quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock valued at $457,366,000 after purchasing an additional 1,267,061 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its position in shares of Veeva Systems by 46.9% in the first quarter. CANADA LIFE ASSURANCE Co now owns 132,760 shares of the technology company’s stock valued at $30,786,000 after purchasing an additional 42,396 shares during the last quarter. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Jonathan Faddis sold 2,353 shares of Veeva Systems 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 completion of the transaction, the senior vice president now owns 9,035 shares in the company, valued at approximately $1,807,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 10.50% of the stock is currently owned by corporate insiders.

Veeva Systems Stock Up 5.2 %

Shares of VEEV opened at $235.00 on Friday. The stock has a market cap of $38.05 billion, a price-to-earnings ratio of 62.67, a P/E/G ratio of 2.29 and a beta of 0.81. Veeva Systems Inc. has a 12 month low of $162.72 and a 12 month high of $240.68. The company has a 50-day moving average price of $213.98 and a two-hundred day moving average price of $199.75.

Veeva Systems (NYSE:VEEV) last announced its quarterly 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. The firm had revenue of $676.18 million during the quarter, compared to analysts’ expectations of $667.21 million. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. Equities research analysts expect that Veeva Systems Inc. will post 4.21 EPS for the current fiscal year.

Analyst Ratings Changes

VEEV has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their price target on Veeva Systems from $203.00 to $208.00 and gave the company a “neutral” rating in a research report on Monday, September 9th. Robert W. Baird lowered their price target on Veeva Systems from $251.00 to $245.00 and set an “outperform” rating on the stock in a research report on Monday, October 28th. Citigroup raised their price target on Veeva Systems from $256.00 to $273.00 and gave the company a “buy” rating in a research report on Tuesday, August 27th. TD Cowen raised 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. Finally, BNP Paribas started coverage on Veeva Systems in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $286.00 price target on the stock. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $237.00.

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.