Atria Investments Inc Purchases 1,811 Shares of Veeva Systems Inc. (NYSE:VEEV)

Atria Investments Inc lifted its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 13.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,999 shares of the technology company’s stock after acquiring an additional 1,811 shares during the quarter. Atria Investments Inc’s holdings in Veeva Systems were worth $3,148,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Advisors Asset Management Inc. bought a new position in Veeva Systems in the first quarter valued at approximately $28,000. Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of Veeva Systems in the 3rd quarter worth $26,000. Blue Trust Inc. grew its stake in shares of 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 purchasing an additional 173 shares during the period. DT Investment Partners LLC bought a new stake in Veeva Systems in the second quarter valued at about $35,000. Finally, Fairscale Capital LLC acquired a new position in Veeva Systems in the second quarter valued at about $46,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on VEEV. TD Cowen boosted their target price on Veeva Systems from $180.00 to $192.00 and gave the stock a “hold” rating in a research report on Thursday, August 29th. Bank of America upped their target price on shares of Veeva Systems from $204.00 to $240.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. UBS Group lifted their price target on shares of Veeva Systems from $185.00 to $215.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Raymond James upped their price objective on shares of Veeva Systems from $230.00 to $235.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Finally, Guggenheim lifted 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. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Veeva Systems has an average rating of “Moderate Buy” and a consensus price target of $237.00.

Veeva Systems Stock Performance

Shares of NYSE VEEV opened at $233.37 on Thursday. The stock has a market capitalization of $37.79 billion, a PE ratio of 62.60, a price-to-earnings-growth ratio of 2.28 and a beta of 0.81. Veeva Systems Inc. has a 52 week low of $165.12 and a 52 week high of $240.68. The stock has a 50 day moving average price of $214.81 and a 200 day moving average price of $200.26.

Veeva Systems (NYSE:VEEV) last released its earnings results 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 business had revenue of $676.18 million during the quarter, compared to analysts’ expectations of $667.21 million. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. As a group, research analysts forecast that Veeva Systems Inc. will post 4.21 EPS for the current year.

Insider Activity

In other 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 completion of the sale, the senior vice president now directly owns 9,035 shares of the company’s stock, valued at $1,807,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, 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 value of $470,600.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thomas D. Schwenger sold 1,126 shares of Veeva Systems stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $240.01, for a total transaction of $270,251.26. Following the sale, the insider now directly owns 27,013 shares of the company’s stock, valued at $6,483,390.13. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 10.50% of the stock is owned by 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.