1,780 Shares in Veeva Systems Inc. (NYSE:VEEV) Purchased by Radnor Capital Management LLC

Radnor Capital Management LLC acquired a new stake in Veeva Systems Inc. (NYSE:VEEV) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 1,780 shares of the technology company’s stock, valued at approximately $374,000.

A number of other hedge funds have also added to or reduced their stakes in VEEV. Patriot Financial Group Insurance Agency LLC increased its stake in shares of Veeva Systems by 0.7% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 6,924 shares of the technology company’s stock valued at $1,453,000 after buying an additional 48 shares during the period. Clearbridge Investments LLC raised its holdings in shares of Veeva Systems by 0.4% in the 2nd quarter. Clearbridge Investments LLC now owns 11,682 shares of the technology company’s stock valued at $2,138,000 after purchasing an additional 52 shares in the last quarter. Western Pacific Wealth Management LP lifted its position in shares of Veeva Systems by 23.3% in the 1st quarter. Western Pacific Wealth Management LP now owns 307 shares of the technology company’s stock worth $71,000 after purchasing an additional 58 shares during the period. Park Place Capital Corp boosted its stake in shares of Veeva Systems by 11.5% during the third quarter. Park Place Capital Corp now owns 574 shares of the technology company’s stock valued at $120,000 after purchasing an additional 59 shares in the last quarter. Finally, Quintet Private Bank Europe S.A. increased its holdings in Veeva Systems by 13.4% during the third quarter. Quintet Private Bank Europe S.A. now owns 516 shares of the technology company’s stock valued at $108,000 after buying an additional 61 shares during the period. 88.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on VEEV shares. Guggenheim upped their target price on Veeva Systems from $233.00 to $249.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Raymond James raised their price objective on Veeva Systems from $230.00 to $235.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 target price on shares of Veeva Systems in a report on Thursday, August 29th. Bank of America raised their price target on shares of Veeva Systems from $204.00 to $240.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Finally, Truist Financial boosted their price objective on shares of Veeva Systems from $197.00 to $207.00 and gave the stock a “hold” rating in a research note on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, Veeva Systems has an average rating of “Moderate Buy” and an average target price of $232.87.

Veeva Systems Price Performance

Shares of NYSE VEEV opened at $223.39 on Friday. The stock has a market capitalization of $36.17 billion, a price-to-earnings ratio of 59.57, a PEG ratio of 2.07 and a beta of 0.81. The firm’s 50 day simple moving average is $213.48 and its 200-day simple moving average is $199.34. Veeva Systems Inc. has a 12 month low of $162.72 and a 12 month high of $236.90.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings results on Wednesday, August 28th. The technology company reported $1.07 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 analyst estimates of $667.21 million. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. Analysts anticipate that Veeva Systems Inc. will post 4.21 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Veeva Systems 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 value of $470,600.00. Following the sale, the senior vice president now directly owns 9,035 shares of the company’s stock, valued at approximately $1,807,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 10.50% of the stock is currently owned by insiders.

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.