Raymond James Trust N.A. Invests $231,000 in Veeva Systems Inc. (NYSE:VEEV)

Raymond James Trust N.A. bought a new stake in shares of Veeva Systems Inc. (NYSE:VEEV) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,099 shares of the technology company’s stock, valued at approximately $231,000.

A number of other hedge funds have also recently bought and sold shares of the company. Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of Veeva Systems in the third quarter valued at $26,000. Advisors Asset Management Inc. acquired a new position in shares of Veeva Systems in the 1st quarter worth $28,000. Blue Trust Inc. raised its position 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 purchased a new stake in shares of Veeva Systems during the second quarter valued at $35,000. Finally, Mather Group LLC. boosted its position in shares of Veeva Systems by 166.3% in the 2nd quarter. Mather Group LLC. now owns 253 shares of the technology company’s stock valued at $46,000 after purchasing an additional 158 shares during the period. 88.20% of the stock is owned by institutional investors and hedge funds.

Veeva Systems Stock Down 0.1 %

Shares of VEEV stock opened at $226.76 on Friday. Veeva Systems Inc. has a 12 month low of $165.12 and a 12 month high of $240.68. The company has a market cap of $36.72 billion, a PE ratio of 60.47, a price-to-earnings-growth ratio of 2.19 and a beta of 0.81. The business’s 50 day moving average is $215.45 and its two-hundred day moving average is $201.83.

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

Insider Activity

In other news, insider Thomas D. Schwenger sold 1,126 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $240.01, for a total value of $270,251.26. Following the completion of the sale, the insider now directly owns 27,013 shares of the company’s stock, valued at approximately $6,483,390.13. This represents a 4.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

VEEV has been the subject of a number of analyst reports. Truist Financial upped their price objective on shares of Veeva Systems from $197.00 to $207.00 and gave the company a “hold” rating in a research note on Tuesday, September 3rd. Piper Sandler raised their price objective on shares of Veeva Systems from $230.00 to $280.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. StockNews.com raised shares of Veeva Systems from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. UBS Group raised their target price on Veeva Systems from $185.00 to $215.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Finally, BNP Paribas assumed coverage on Veeva Systems in a research report on Tuesday, October 8th. They set an “outperform” rating and a $286.00 price target on the stock. One analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $236.92.

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.