Centaurus Financial Inc. Increases Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Centaurus Financial Inc. boosted its position in Veeva Systems Inc. (NYSE:VEEV) by 28.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,335 shares of the technology company’s stock after purchasing an additional 293 shares during the period. Centaurus Financial Inc.’s holdings in Veeva Systems were worth $280,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Massachusetts Financial Services Co. MA boosted its position in Veeva Systems by 64.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company’s stock worth $744,084,000 after purchasing an additional 1,392,256 shares during the last quarter. Principal Financial Group Inc. boosted its position in 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 worth $457,366,000 after purchasing an additional 1,267,061 shares during the last quarter. Van ECK Associates Corp boosted its position in Veeva Systems by 3.7% in the third quarter. Van ECK Associates Corp now owns 1,995,006 shares of the technology company’s stock worth $434,372,000 after purchasing an additional 71,525 shares during the last quarter. Swedbank AB boosted its position in Veeva Systems by 4.9% in the second quarter. Swedbank AB now owns 1,031,064 shares of the technology company’s stock worth $188,695,000 after purchasing an additional 48,402 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Veeva Systems by 3.0% during 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. 88.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Thomas D. Schwenger sold 1,126 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 10.50% of the company’s stock.

Veeva Systems Price Performance

NYSE:VEEV opened at $226.76 on Thursday. Veeva Systems Inc. has a 1 year low of $165.12 and a 1 year high of $240.68. The stock’s 50 day simple moving average is $215.20 and its two-hundred day simple moving average is $201.66. The company has a market cap of $36.72 billion, a price-to-earnings ratio of 60.47, a PEG ratio of 2.19 and a beta of 0.81.

Veeva Systems (NYSE:VEEV) last released its 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 firm had revenue of $676.18 million for the quarter, compared to the consensus estimate of $667.21 million. Veeva Systems had a return on equity of 13.30% and a net margin of 23.91%. As a group, analysts anticipate that Veeva Systems Inc. will post 4.21 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Robert W. Baird lowered their price objective 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. Piper Sandler lifted their price objective on Veeva Systems from $230.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Guggenheim lifted their price objective on Veeva Systems from $233.00 to $249.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. TD Cowen lifted their price objective 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, StockNews.com raised Veeva Systems from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently 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.