Crestwood Advisors Group LLC Decreases Holdings in Veeva Systems Inc. (NYSE:VEEV)

Crestwood Advisors Group LLC decreased its holdings in Veeva Systems Inc. (NYSE:VEEV) by 9.8% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,739 shares of the technology company’s stock after selling 189 shares during the period. Crestwood Advisors Group LLC’s holdings in Veeva Systems were worth $365,000 as of its most recent SEC filing.

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

Veeva Systems Price Performance

NYSE:VEEV opened at $216.45 on Thursday. Veeva Systems Inc. has a one year low of $162.72 and a one year high of $236.90. The business has a fifty day moving average price of $213.48 and a 200-day moving average price of $199.34. The firm has a market capitalization of $35.05 billion, a price-to-earnings ratio of 57.72, a price-to-earnings-growth ratio of 2.07 and a beta of 0.81.

Veeva Systems (NYSE:VEEV) last released 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. Veeva Systems had a return on equity of 13.30% and a net margin of 23.91%. The business had revenue of $676.18 million during the quarter, compared to analyst estimates of $667.21 million. On average, equities research analysts expect 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 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 transaction 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 10.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

VEEV has been the subject of several analyst reports. StockNews.com downgraded Veeva Systems from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Piper Sandler upped their target price on shares of Veeva Systems from $225.00 to $230.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Robert W. Baird reduced their price target 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. Needham & Company LLC restated a “buy” rating and issued a $260.00 price objective on shares of Veeva Systems in a report on Thursday, August 29th. Finally, Citigroup increased their target price on Veeva Systems from $256.00 to $273.00 and gave the company a “buy” rating in a research note on Tuesday, August 27th. One analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $232.87.

About Veeva Systems

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.