Integrated Investment Consultants LLC Raises Holdings 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, HoldingsChannel.com reports. The firm owned 2,395 shares of the technology company’s stock after buying an additional 742 shares during the period. Integrated Investment Consultants LLC’s holdings in Veeva Systems were worth $503,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in VEEV. Patriot Financial Group Insurance Agency LLC increased its position in shares of Veeva Systems by 0.7% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 6,924 shares of the technology company’s stock valued at $1,453,000 after purchasing an additional 48 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its holdings in Veeva Systems by 1.2% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,307 shares of the technology company’s stock worth $904,000 after buying an additional 50 shares during the period. Clearbridge Investments LLC lifted its holdings in Veeva Systems by 0.4% in the 2nd quarter. Clearbridge Investments LLC now owns 11,682 shares of the technology company’s stock worth $2,138,000 after buying an additional 52 shares during the period. Western Pacific Wealth Management LP lifted its holdings in Veeva Systems by 23.3% in the 1st quarter. Western Pacific Wealth Management LP now owns 307 shares of the technology company’s stock worth $71,000 after buying an additional 58 shares during the period. Finally, Park Place Capital Corp lifted its holdings in Veeva Systems by 11.5% in the 3rd quarter. Park Place Capital Corp now owns 574 shares of the technology company’s stock worth $120,000 after buying an additional 59 shares during the period. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Trading Up 1.7 %

Shares of NYSE VEEV opened at $214.22 on Friday. Veeva Systems Inc. has a 12-month low of $165.12 and a 12-month high of $240.68. The stock has a market cap of $34.69 billion, a PE ratio of 57.13, a P/E/G ratio of 2.03 and a beta of 0.81. The company has a 50-day moving average of $214.57 and a 200 day moving average of $201.09.

Veeva Systems (NYSE:VEEV) last posted 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. The business 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%. On average, sell-side analysts forecast that Veeva Systems Inc. will post 4.21 EPS for the current fiscal year.

Insiders Place Their Bets

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,126 shares of the firm’s stock in a transaction on 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 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 position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 10.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Truist Financial increased their price objective on Veeva Systems from $197.00 to $207.00 and gave the stock a “hold” rating in a report on Tuesday, September 3rd. Needham & Company LLC restated a “buy” rating and issued a $260.00 target price on shares of Veeva Systems in a research note on Friday, November 8th. Citigroup raised their target price on Veeva Systems from $256.00 to $273.00 and gave the company a “buy” rating in a research note on Tuesday, August 27th. Scotiabank assumed coverage on Veeva Systems in a research report on Monday. They set a “sector perform” rating and a $235.00 price objective for the company. Finally, BNP Paribas assumed coverage on Veeva Systems in a research report on Tuesday, October 8th. They set an “outperform” rating and a $286.00 price objective for the company. One 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $236.92.

Veeva Systems Company 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.