Integrated Investment Consultants LLC Increases Position in Veeva Systems Inc. (NYSE:VEEV)

Integrated Investment Consultants LLC increased its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 44.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,395 shares of the technology company’s stock after buying an additional 742 shares during the quarter. Integrated Investment Consultants LLC’s holdings in Veeva Systems were worth $503,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in VEEV. O Shaughnessy Asset Management LLC raised its position in shares of Veeva Systems by 16.8% in the first quarter. O Shaughnessy Asset Management LLC now owns 7,091 shares of the technology company’s stock worth $1,643,000 after acquiring an additional 1,020 shares during the period. UniSuper Management Pty Ltd raised its position in shares of Veeva Systems by 100.0% in the first quarter. UniSuper Management Pty Ltd now owns 2,200 shares of the technology company’s stock worth $510,000 after acquiring an additional 1,100 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Veeva Systems in the first quarter worth about $1,086,000. CreativeOne Wealth LLC raised its position in shares of Veeva Systems by 18.6% during the 1st quarter. CreativeOne Wealth LLC now owns 1,425 shares of the technology company’s stock worth $330,000 after purchasing an additional 223 shares during the last quarter. Finally, Advisors Asset Management Inc. acquired a new position in shares of Veeva Systems during the 1st quarter worth about $28,000. 88.20% of the stock is owned by hedge funds and other institutional investors.

Veeva Systems Stock Up 1.7 %

Shares of NYSE VEEV opened at $214.22 on Friday. The firm’s 50-day simple moving average is $214.57 and its 200 day simple moving average is $201.09. The company has a market cap of $34.69 billion, a price-to-earnings ratio of 57.13, a price-to-earnings-growth ratio of 2.03 and a beta of 0.81. 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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.03. The company had revenue of $676.18 million for the quarter, compared to the consensus estimate of $667.21 million. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. On average, equities analysts expect that Veeva Systems Inc. will post 4.21 earnings per share for the current year.

Insider Buying and Selling at Veeva Systems

In other 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 transaction of $270,251.26. Following the sale, the insider now directly owns 27,013 shares of the company’s stock, valued at approximately $6,483,390.13. This trade represents a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 10.50% of the company’s stock.

Wall Street Analysts Forecast Growth

VEEV has been the subject of a number of recent research reports. TD Cowen increased their price objective on shares of Veeva Systems from $180.00 to $192.00 and gave the company a “hold” rating in a report on Thursday, August 29th. Truist Financial increased their price target on shares of Veeva Systems from $197.00 to $207.00 and gave the company a “hold” rating in a research note on Tuesday, September 3rd. StockNews.com raised shares of Veeva Systems from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. Robert W. Baird lowered their price objective on shares of Veeva Systems from $251.00 to $245.00 and set an “outperform” rating for the company in a research report on Monday, October 28th. Finally, Scotiabank assumed coverage on shares of Veeva Systems in a research report on Monday. They set a “sector perform” rating and a $235.00 price objective for the company. One research analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Veeva Systems has an average rating of “Moderate Buy” and a consensus price target of $236.92.

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.