997 Shares in Veeva Systems Inc. (NYSE:VEEV) Purchased by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. acquired a new stake in Veeva Systems Inc. (NYSE:VEEV) in the third quarter, HoldingsChannel reports. The fund acquired 997 shares of the technology company’s stock, valued at approximately $209,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of VEEV. Vanguard Group Inc. raised its position in shares of Veeva Systems by 7.5% in the 1st quarter. Vanguard Group Inc. now owns 14,150,070 shares of the technology company’s stock valued at $3,278,430,000 after buying an additional 991,208 shares in the last quarter. TD Asset Management Inc boosted its holdings in Veeva Systems by 17.5% in the first quarter. TD Asset Management Inc now owns 1,227,223 shares of the technology company’s stock valued at $284,335,000 after acquiring an additional 182,762 shares during the last quarter. Swedbank AB increased its position in shares of Veeva Systems by 4.9% during the second quarter. Swedbank AB now owns 1,031,064 shares of the technology company’s stock worth $188,695,000 after buying an additional 48,402 shares during the period. Principal Financial Group Inc. raised its position in shares of Veeva Systems by 1,122.3% in the 2nd quarter. Principal Financial Group Inc. now owns 912,223 shares of the technology company’s stock worth $166,946,000 after acquiring an additional 837,593 shares in the last quarter. Finally, Acadian Asset Management LLC increased its holdings in Veeva Systems by 83.8% in the first quarter. Acadian Asset Management LLC now owns 618,344 shares of the technology company’s stock worth $143,235,000 after purchasing an additional 281,993 shares in the last quarter. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Down 0.1 %

NYSE VEEV opened at $212.53 on Tuesday. The firm has a market cap of $34.42 billion, a price-to-earnings ratio of 56.67, a PEG ratio of 2.03 and a beta of 0.81. The company has a 50-day simple moving average of $212.89 and a two-hundred day simple moving average of $199.12. Veeva Systems Inc. has a 12-month low of $162.72 and a 12-month high of $236.90.

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

Insider Buying and Selling

In other 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 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 $1,807,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 10.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

VEEV has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their price objective on Veeva Systems from $203.00 to $208.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. Barclays raised their target price on Veeva Systems from $220.00 to $240.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Truist Financial boosted their price objective on Veeva Systems from $197.00 to $207.00 and gave the company a “hold” rating in a research note on Tuesday, September 3rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 target price on shares of Veeva Systems in a research note on Thursday, August 29th. Finally, TD Cowen raised their price objective on shares of Veeva Systems from $180.00 to $192.00 and gave the stock a “hold” rating in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Veeva Systems currently has an average rating of “Moderate Buy” and a consensus price target of $232.87.

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.