Atria Wealth Solutions Inc. raised its holdings in Veeva Systems Inc. (NYSE:VEEV – Free Report) by 1.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 18,436 shares of the technology company’s stock after acquiring an additional 324 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Veeva Systems were worth $3,751,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of VEEV. Norges Bank acquired a new stake in shares of Veeva Systems during the fourth quarter worth $259,703,000. Wellington Management Group LLP increased its position in shares of Veeva Systems by 1,578.4% during the first quarter. Wellington Management Group LLP now owns 1,504,355 shares of the technology company’s stock worth $319,616,000 after buying an additional 1,414,726 shares during the period. Capital World Investors acquired a new stake in shares of Veeva Systems during the second quarter worth $151,056,000. Massachusetts Financial Services Co. MA increased its position in shares of Veeva Systems by 34.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,045,414 shares of the technology company’s stock worth $416,139,000 after buying an additional 522,257 shares during the period. Finally, Nuveen Asset Management LLC increased its position in shares of Veeva Systems by 25.0% during the second quarter. Nuveen Asset Management LLC now owns 2,432,413 shares of the technology company’s stock worth $480,961,000 after buying an additional 486,588 shares during the period. 80.07% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
VEEV has been the subject of several recent analyst reports. StockNews.com cut shares of Veeva Systems from a “buy” rating to a “hold” rating in a research report on Thursday, November 23rd. Jefferies Financial Group began coverage on shares of Veeva Systems in a report on Friday, October 13th. They issued a “buy” rating and a $265.00 price target for the company. JPMorgan Chase & Co. reduced their price target on shares of Veeva Systems from $188.00 to $183.00 and set a “neutral” rating for the company in a report on Wednesday, November 29th. Piper Sandler raised their price target on shares of Veeva Systems from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Finally, Wells Fargo & Company upgraded shares of Veeva Systems from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $211.00 to $229.00 in a report on Wednesday, October 25th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $217.18.
Insider Buying and Selling at Veeva Systems
In other Veeva Systems news, COO Thomas D. Schwenger sold 1,238 shares of the business’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $210.02, for a total value of $260,004.76. Following the transaction, the chief operating officer now directly owns 24,342 shares in the company, valued at $5,112,306.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, COO Thomas D. Schwenger sold 1,238 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $210.02, for a total value of $260,004.76. Following the sale, the chief operating officer now owns 24,342 shares of the company’s stock, valued at $5,112,306.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Alan Mateo sold 6,280 shares of the business’s stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $190.00, for a total transaction of $1,193,200.00. Following the completion of the sale, the executive vice president now directly owns 21,983 shares in the company, valued at approximately $4,176,770. The disclosure for this sale can be found here. Insiders have sold a total of 40,819 shares of company stock worth $7,520,033 over the last three months. 10.98% of the stock is currently owned by insiders.
Veeva Systems Stock Performance
Veeva Systems stock opened at $215.43 on Friday. Veeva Systems Inc. has a fifty-two week low of $160.21 and a fifty-two week high of $225.49. The stock has a market cap of $34.69 billion, a PE ratio of 61.91, a price-to-earnings-growth ratio of 2.53 and a beta of 0.74. The firm’s 50-day simple moving average is $194.53 and its 200 day simple moving average is $195.86.
Veeva Systems (NYSE:VEEV – Get Free Report) last released its earnings results on Wednesday, December 6th. The technology company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.05. The firm had revenue of $616.51 million for the quarter, compared to analysts’ expectations of $615.98 million. Veeva Systems had a net margin of 24.68% and a return on equity of 10.91%. The company’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.69 earnings per share. As a group, analysts predict that Veeva Systems Inc. will post 2.84 EPS for the current fiscal year.
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 data 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.
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