OLD National Bancorp IN Sells 498 Shares of Veeva Systems Inc. (NYSE:VEEV)

OLD National Bancorp IN reduced its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 1.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 48,471 shares of the technology company’s stock after selling 498 shares during the period. OLD National Bancorp IN’s holdings in Veeva Systems were worth $10,173,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of VEEV. Advisors Asset Management Inc. bought a new position in shares of Veeva Systems during the 1st quarter worth about $28,000. Blue Trust Inc. lifted its holdings in shares of Veeva Systems by 3,460.0% during the 2nd quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock worth $33,000 after acquiring an additional 173 shares during the period. First Financial Corp IN bought a new position in shares of Veeva Systems during the 1st quarter worth about $35,000. DT Investment Partners LLC bought a new position in shares of Veeva Systems during the 2nd quarter worth about $35,000. Finally, Larson Financial Group LLC lifted its holdings in shares of Veeva Systems by 1,153.8% during the 1st quarter. Larson Financial Group LLC now owns 163 shares of the technology company’s stock worth $38,000 after acquiring an additional 150 shares during the period. 88.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on VEEV. Needham & Company LLC restated a “buy” rating and issued a $260.00 price objective on shares of Veeva Systems in a research report on Thursday, August 29th. Raymond James raised their price objective on shares of Veeva Systems from $230.00 to $235.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. BTIG Research began coverage on shares of Veeva Systems in a research report on Tuesday, July 9th. They issued a “buy” rating and a $240.00 price objective for the company. Royal Bank of Canada restated an “outperform” rating and issued a $250.00 price objective on shares of Veeva Systems in a research report on Thursday, August 29th. Finally, Barclays raised their price objective on shares of Veeva Systems from $220.00 to $240.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $232.96.

Veeva Systems Trading Up 2.0 %

Shares of NYSE VEEV traded up $4.30 during midday trading on Friday, reaching $221.32. The company’s stock had a trading volume of 1,380,737 shares, compared to its average volume of 952,255. The stock has a market capitalization of $35.78 billion, a price-to-earnings ratio of 65.29, a PEG ratio of 2.05 and a beta of 0.81. Veeva Systems Inc. has a fifty-two week low of $162.72 and a fifty-two week high of $236.90. The stock has a 50 day simple moving average of $208.39 and a 200-day simple moving average of $198.77.

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

Insider Activity

In related news, SVP Jonathan Faddis sold 2,353 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $200.00, for a total transaction of $470,600.00. Following the completion of the sale, the senior vice president now owns 9,035 shares of the company’s stock, valued at $1,807,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 10.50% of the stock is currently owned by company insiders.

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.