Allen Capital Group LLC Purchases 958 Shares of Veeva Systems Inc. (NYSE:VEEV)

Allen Capital Group LLC grew its position in Veeva Systems Inc. (NYSE:VEEV) by 9.5% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,043 shares of the technology company’s stock after buying an additional 958 shares during the period. Allen Capital Group LLC’s holdings in Veeva Systems were worth $2,318,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Raymond James Trust N.A. bought a new stake in shares of Veeva Systems in the 3rd quarter valued at about $231,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Veeva Systems by 3.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 681,807 shares of the technology company’s stock valued at $143,091,000 after buying an additional 19,879 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Veeva Systems by 64.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company’s stock valued at $744,084,000 after buying an additional 1,392,256 shares in the last quarter. Integrated Investment Consultants LLC boosted its holdings in shares of Veeva Systems by 44.9% in the 3rd quarter. Integrated Investment Consultants LLC now owns 2,395 shares of the technology company’s stock valued at $503,000 after buying an additional 742 shares in the last quarter. Finally, Moran Wealth Management LLC boosted its stake in Veeva Systems by 3.3% in the 3rd quarter. Moran Wealth Management LLC now owns 62,758 shares of the technology company’s stock worth $13,171,000 after purchasing an additional 2,022 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors.

Veeva Systems Stock Performance

Shares of NYSE VEEV opened at $214.22 on Friday. The firm has a market cap of $34.69 billion, a PE ratio of 57.13, a PEG ratio of 2.03 and a beta of 0.81. The firm has a fifty day moving average of $214.57 and a 200 day moving average of $201.09. Veeva Systems Inc. has a one year low of $165.12 and a one year high of $240.68.

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

Analyst Ratings Changes

VEEV has been the subject of a number of recent analyst reports. Guggenheim lifted their target price on shares of Veeva Systems from $233.00 to $249.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Raymond James lifted their target price on shares of Veeva Systems from $230.00 to $235.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Royal Bank of Canada lifted their target price on shares of Veeva Systems from $250.00 to $275.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 target price on shares of Veeva Systems in a research note on Friday, November 8th. Finally, Truist Financial lifted their target price on shares of Veeva Systems from $197.00 to $207.00 and gave the stock a “hold” rating in a research note on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $236.92.

Insider Transactions at Veeva Systems

In other news, insider Thomas D. Schwenger sold 1,126 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $240.01, for a total transaction of $270,251.26. Following the transaction, the insider now owns 27,013 shares of the company’s stock, valued at approximately $6,483,390.13. The trade was a 4.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 10.50% of the company’s stock.

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.