Cross Staff Investments Inc Purchases Shares of 1,000 Veeva Systems Inc. (NYSE:VEEV)

Cross Staff Investments Inc bought a new stake in Veeva Systems Inc. (NYSE:VEEV) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,000 shares of the technology company’s stock, valued at approximately $210,000.

A number of other hedge funds have also made changes to their positions in VEEV. Mowery & Schoenfeld Wealth Management LLC purchased a new position in Veeva Systems in the third quarter valued at about $26,000. Advisors Asset Management Inc. purchased a new stake in shares of Veeva Systems during the 1st quarter valued at about $28,000. Blue Trust Inc. lifted its position in 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 in the last quarter. DT Investment Partners LLC acquired a new position in Veeva Systems during the 2nd quarter worth approximately $35,000. Finally, Larson Financial Group LLC boosted its holdings in Veeva Systems by 1,153.8% in 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. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Jonathan Faddis sold 2,353 shares of Veeva Systems stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $200.00, for a total value of $470,600.00. Following the transaction, the senior vice president now owns 9,035 shares of the company’s stock, valued at $1,807,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 10.50% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. UBS Group lifted their price objective on shares of Veeva Systems from $185.00 to $215.00 and gave the company a “neutral” rating in a research note on Monday, August 26th. BNP Paribas initiated coverage on shares of Veeva Systems in a report on Tuesday, October 8th. They issued an “outperform” rating and a $286.00 price objective on the stock. Raymond James raised their target price on Veeva Systems from $230.00 to $235.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Piper Sandler lifted their target price on Veeva Systems from $225.00 to $230.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $260.00 price target on shares of Veeva Systems in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $232.96.

Veeva Systems Price Performance

NYSE VEEV opened at $212.61 on Friday. The firm has a market capitalization of $34.43 billion, a PE ratio of 56.70, a P/E/G ratio of 2.13 and a beta of 0.81. Veeva Systems Inc. has a 12 month low of $162.72 and a 12 month high of $236.90. The company’s 50 day simple moving average is $210.29 and its 200 day simple moving average is $198.85.

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

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.