Physicians Financial Services Inc. Purchases New Shares in Veeva Systems Inc. (NYSE:VEEV)

Physicians Financial Services Inc. acquired a new position in shares of Veeva Systems Inc. (NYSE:VEEV) during the 3rd quarter, Holdings Channel reports. The firm acquired 1,784 shares of the technology company’s stock, valued at approximately $374,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norden Group LLC bought a new stake in shares of Veeva Systems in the first quarter valued at approximately $304,000. Central Pacific Bank Trust Division acquired a new position in Veeva Systems in the 1st quarter valued at $104,000. BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of Veeva Systems by 71.9% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 3,133 shares of the technology company’s stock valued at $726,000 after acquiring an additional 1,310 shares during the period. Larson Financial Group LLC grew 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 purchasing an additional 150 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its position in shares of Veeva Systems by 6.8% in the first quarter. Geneos Wealth Management Inc. now owns 3,238 shares of the technology company’s stock worth $750,000 after purchasing an additional 207 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Price Performance

Shares of Veeva Systems stock traded up $11.44 during midday trading on Friday, reaching $234.83. The company had a trading volume of 537,186 shares, compared to its average volume of 934,705. The stock has a fifty day moving average price of $213.48 and a 200 day moving average price of $199.34. Veeva Systems Inc. has a fifty-two week low of $162.72 and a fifty-two week high of $239.96. The firm has a market cap of $38.03 billion, a PE ratio of 59.57, a P/E/G ratio of 2.10 and a beta of 0.81.

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, 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 firm had revenue of $676.18 million for the quarter, compared to the consensus estimate of $667.21 million. As a group, sell-side analysts forecast that Veeva Systems Inc. will post 4.21 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on VEEV shares. Bank of America increased their price objective on shares of Veeva Systems from $204.00 to $240.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Guggenheim increased their price target on shares of Veeva Systems from $233.00 to $249.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Robert W. Baird lowered their price objective on shares of Veeva Systems from $251.00 to $245.00 and set an “outperform” rating for the company in a research report on Monday, October 28th. StockNews.com downgraded Veeva Systems from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Finally, Raymond James lifted their price target on Veeva Systems from $230.00 to $235.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $235.04.

Insider Activity at Veeva Systems

In related news, SVP Jonathan Faddis sold 2,353 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was 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 trade 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 at the SEC website. 10.50% of the stock is owned by company insiders.

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.