Angeles Wealth Management LLC Purchases New Position in Veeva Systems Inc. (NYSE:VEEV)

Angeles Wealth Management LLC acquired a new position in Veeva Systems Inc. (NYSE:VEEV) in the 3rd quarter, HoldingsChannel.com reports. The fund acquired 1,521 shares of the technology company’s stock, valued at approximately $319,000.

Other hedge funds have also bought and sold shares of the company. Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of Veeva Systems during the third quarter valued at about $26,000. Advisors Asset Management Inc. bought a new stake in Veeva Systems during the 1st quarter worth approximately $28,000. Blue Trust Inc. lifted its stake in Veeva Systems by 3,460.0% in the 2nd quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock worth $33,000 after purchasing an additional 173 shares in the last quarter. DT Investment Partners LLC purchased a new stake in Veeva Systems in the 2nd quarter worth approximately $35,000. Finally, Larson Financial Group LLC boosted its holdings in Veeva Systems by 1,153.8% in 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 during the period. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Veeva Systems Trading Up 1.9 %

NYSE VEEV opened at $212.78 on Monday. The stock has a 50-day moving average of $212.62 and a 200-day moving average of $199.03. Veeva Systems Inc. has a 1-year low of $162.72 and a 1-year high of $236.90. The firm has a market cap of $34.46 billion, a PE ratio of 56.74, a price-to-earnings-growth ratio of 2.03 and a beta of 0.81.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Wednesday, August 28th. The technology company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.03. The firm had revenue of $676.18 million during the quarter, compared to the consensus estimate of $667.21 million. Veeva Systems had a return on equity of 13.30% and a net margin of 23.91%. As a group, equities research analysts forecast that Veeva Systems Inc. will post 4.21 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on VEEV shares. Bank of America upped their price target on shares of Veeva Systems from $204.00 to $240.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Raymond James upped their target price on Veeva Systems from $230.00 to $235.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. StockNews.com downgraded Veeva Systems from a “buy” rating to a “hold” rating in a research report on Friday. TD Cowen upped their price objective on shares of Veeva Systems from $180.00 to $192.00 and gave the stock a “hold” rating in a research report on Thursday, August 29th. Finally, Piper Sandler raised their target price on shares of Veeva Systems from $225.00 to $230.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $232.87.

Insider Activity at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 2,353 shares of the firm’s stock in a transaction on 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 owns 9,035 shares of the company’s stock, valued at $1,807,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 10.50% of the stock is currently owned by company insiders.

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.