Nisa Investment Advisors LLC Has $4.06 Million Position in Veeva Systems Inc. (NYSE:VEEV)

Nisa Investment Advisors LLC decreased its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 2.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,324 shares of the technology company’s stock after selling 510 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Veeva Systems were worth $4,056,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Patriot Financial Group Insurance Agency LLC raised its position in shares of Veeva Systems by 0.7% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 6,924 shares of the technology company’s stock worth $1,453,000 after acquiring an additional 48 shares during the last quarter. Baker Tilly Wealth Management LLC bought a new stake in Veeva Systems during the 3rd quarter worth about $259,000. J.W. Cole Advisors Inc. lifted its position in Veeva Systems by 55.8% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 1,882 shares of the technology company’s stock valued at $395,000 after purchasing an additional 674 shares during the period. Bristlecone Advisors LLC boosted its stake in shares of Veeva Systems by 3.5% in the 3rd quarter. Bristlecone Advisors LLC now owns 21,786 shares of the technology company’s stock valued at $4,572,000 after purchasing an additional 743 shares during the last quarter. Finally, First Bank & Trust grew its position in shares of Veeva Systems by 2.2% during the 3rd quarter. First Bank & Trust now owns 3,966 shares of the technology company’s stock worth $832,000 after buying an additional 85 shares during the period. 88.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Barclays increased their price objective on shares of Veeva Systems from $220.00 to $240.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Bank of America raised their price target on Veeva Systems from $204.00 to $240.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 price objective on shares of Veeva Systems in a report on Thursday, August 29th. Robert W. Baird reduced their target price on Veeva Systems from $251.00 to $245.00 and set an “outperform” rating on the stock in a report on Monday, October 28th. Finally, Raymond James upped their price target on Veeva Systems from $230.00 to $235.00 and gave the company an “outperform” 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 given a buy rating to the stock. Based on data from MarketBeat, Veeva Systems presently has an average rating of “Moderate Buy” and a consensus target price of $232.87.

Veeva Systems Price Performance

Veeva Systems stock opened at $212.80 on Friday. The company has a market cap of $34.46 billion, a price-to-earnings ratio of 56.75, a P/E/G ratio of 2.09 and a beta of 0.81. The firm has a 50-day moving average of $212.62 and a 200-day moving average of $199.04. Veeva Systems Inc. has a one year low of $162.72 and a one year high of $236.90.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings results on Wednesday, August 28th. The technology company reported $1.07 EPS 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 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, sell-side analysts expect that Veeva Systems Inc. will post 4.21 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Jonathan Faddis sold 2,353 shares of Veeva Systems 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 completion of the transaction, 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 SEC, which is available at this link. Insiders own 10.50% of the company’s stock.

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.