1834 Investment Advisors Co. Grows Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

1834 Investment Advisors Co. lifted its stake in Veeva Systems Inc. (NYSE:VEEV) by 5.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,660 shares of the technology company’s stock after purchasing an additional 145 shares during the quarter. 1834 Investment Advisors Co.’s holdings in Veeva Systems were worth $558,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Advisors Asset Management Inc. purchased a new stake in shares of Veeva Systems in the first quarter worth $28,000. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in Veeva Systems during the 3rd quarter valued at about $26,000. Larson Financial Group LLC increased its stake in Veeva Systems by 1,153.8% during the 1st quarter. Larson Financial Group LLC now owns 163 shares of the technology company’s stock valued at $38,000 after purchasing an additional 150 shares in the last quarter. Blue Trust Inc. raised its holdings in Veeva Systems by 3,460.0% in the second quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock worth $33,000 after buying an additional 173 shares during the last quarter. Finally, DT Investment Partners LLC purchased a new position in Veeva Systems in the second quarter worth about $35,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Price Performance

Shares of NYSE:VEEV opened at $216.45 on Thursday. The company has a market capitalization of $35.05 billion, a P/E ratio of 57.72, a P/E/G ratio of 2.07 and a beta of 0.81. Veeva Systems Inc. has a 1-year low of $162.72 and a 1-year high of $236.90. The firm’s 50 day simple moving average is $213.48 and its two-hundred day simple moving average is $199.34.

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 analysts’ consensus estimates 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 net margin of 23.91% and a return on equity of 13.30%. On average, sell-side analysts anticipate that Veeva Systems Inc. will post 4.21 earnings per share for the current fiscal year.

Analysts Set New Price Targets

VEEV has been the topic of a number of recent analyst reports. UBS Group increased their price target on shares of Veeva Systems from $185.00 to $215.00 and gave the company a “neutral” rating in a report on Monday, August 26th. Citigroup lifted their target price on Veeva Systems from $256.00 to $273.00 and gave the stock a “buy” rating in a report on Tuesday, August 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 price target on shares of Veeva Systems in a report on Thursday, August 29th. Robert W. Baird reduced their price objective on Veeva Systems from $251.00 to $245.00 and set an “outperform” rating for the company in a report on Monday, October 28th. Finally, Truist Financial boosted their target price on Veeva Systems from $197.00 to $207.00 and gave the stock a “hold” rating in a research report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $232.87.

Insider Transactions at Veeva Systems

In related news, SVP Jonathan Faddis sold 2,353 shares of Veeva Systems 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 sale, the senior vice president now owns 9,035 shares of the company’s stock, valued at approximately $1,807,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 10.50% of the company’s stock.

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.