Sheaff Brock Investment Advisors LLC Acquires 166 Shares of Veeva Systems Inc. (NYSE:VEEV)

Sheaff Brock Investment Advisors LLC grew its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 1.9% in the third quarter, HoldingsChannel reports. The fund owned 8,955 shares of the technology company’s stock after acquiring an additional 166 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in Veeva Systems were worth $1,879,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of Veeva Systems in the third quarter worth $26,000. Advisors Asset Management Inc. bought a new stake in Veeva Systems during the first quarter worth $28,000. Blue Trust Inc. grew its holdings in Veeva Systems by 3,460.0% during 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 in the last quarter. DT Investment Partners LLC purchased a new position in Veeva Systems in the second quarter worth $35,000. Finally, Mather Group LLC. lifted its position in shares of Veeva Systems by 166.3% during the 2nd quarter. Mather Group LLC. now owns 253 shares of the technology company’s stock valued at $46,000 after buying an additional 158 shares during the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Analyst Ratings Changes

VEEV has been the topic of a number of research analyst reports. Citigroup upped their target price on Veeva Systems from $256.00 to $273.00 and gave the stock a “buy” rating in a research note on Tuesday, August 27th. Truist Financial boosted their price target on Veeva Systems from $197.00 to $207.00 and gave the stock a “hold” rating in a research note on Tuesday, September 3rd. Guggenheim boosted their price target on Veeva Systems from $233.00 to $249.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Raymond James boosted their target price on Veeva Systems from $230.00 to $235.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $260.00 price target on shares of Veeva Systems in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $237.00.

Insider Buying and Selling at Veeva Systems

In related news, insider Thomas D. Schwenger sold 1,126 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $240.01, for a total transaction of $270,251.26. Following the completion of the transaction, the insider now directly owns 27,013 shares of the company’s stock, valued at $6,483,390.13. This represents a 4.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Jonathan Faddis sold 2,353 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $200.00, for a total transaction of $470,600.00. Following the completion of the transaction, 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 20.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.50% of the stock is owned by corporate insiders.

Veeva Systems Stock Performance

NYSE VEEV opened at $226.32 on Friday. The stock has a 50-day simple moving average of $215.14 and a two-hundred day simple moving average of $200.49. The firm has a market capitalization of $36.65 billion, a P/E ratio of 61.26, a PEG ratio of 2.25 and a beta of 0.81. Veeva Systems Inc. has a fifty-two week low of $165.12 and a fifty-two week high of $240.68.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings data 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. The company had revenue of $676.18 million for the quarter, compared to analysts’ expectations of $667.21 million. Veeva Systems had a return on equity of 13.30% and a net margin of 23.91%. As a group, analysts forecast that Veeva Systems Inc. will post 4.21 earnings per share for the current year.

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.