Charles Schwab Investment Management Inc. Purchases 19,879 Shares of Veeva Systems Inc. (NYSE:VEEV)

Charles Schwab Investment Management Inc. increased its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 3.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 681,807 shares of the technology company’s stock after acquiring an additional 19,879 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Veeva Systems were worth $143,091,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of Veeva Systems in the 3rd quarter valued at $26,000. Advisors Asset Management Inc. bought a new position in Veeva Systems in the first quarter valued at about $28,000. Blue Trust Inc. grew its position in Veeva Systems by 3,460.0% in the second quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock valued at $33,000 after acquiring an additional 173 shares during the last quarter. DT Investment Partners LLC acquired a new position in Veeva Systems during the second quarter worth about $35,000. Finally, Mather Group LLC. lifted its holdings in shares of Veeva Systems by 166.3% in the second quarter. Mather Group LLC. now owns 253 shares of the technology company’s stock worth $46,000 after acquiring an additional 158 shares during the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of Veeva Systems from $203.00 to $208.00 and gave the company a “neutral” rating in a research report on Monday, September 9th. UBS Group boosted their price objective on Veeva Systems from $185.00 to $215.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Guggenheim upped 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. Needham & Company LLC reissued a “buy” rating and set a $260.00 price target on shares of Veeva Systems in a research note on Friday, November 8th. Finally, Royal Bank of Canada upped their price objective on Veeva Systems from $250.00 to $275.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. One equities research 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $236.92.

Veeva Systems Price Performance

Shares of NYSE VEEV opened at $216.58 on Monday. Veeva Systems Inc. has a 1 year low of $165.12 and a 1 year high of $240.68. The stock has a market capitalization of $35.07 billion, a P/E ratio of 57.75, a P/E/G ratio of 2.09 and a beta of 0.81. The company has a 50-day moving average price of $214.54 and a 200-day moving average price of $201.16.

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

Insider Transactions at Veeva Systems

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,126 shares of the business’s stock in a transaction 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 transaction, the insider now owns 27,013 shares of the company’s stock, valued at approximately $6,483,390.13. The trade was a 4.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 10.50% of the company’s stock.

About Veeva Systems

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.