Mutual of America Capital Management LLC Boosts Stake in Veeva Systems Inc. (NYSE:VEEV)

Mutual of America Capital Management LLC lifted its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 51.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 3,432 shares of the technology company’s stock after acquiring an additional 1,163 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Veeva Systems were worth $720,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of Veeva Systems during the 3rd quarter valued at $26,000. Advisors Asset Management Inc. purchased a new stake in Veeva Systems during the first quarter valued at $28,000. Blue Trust Inc. lifted its holdings 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 period. DT Investment Partners LLC purchased a new position in Veeva Systems in the second quarter worth about $35,000. Finally, Mather Group LLC. grew its stake in shares of Veeva Systems by 166.3% during 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 currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Citigroup raised their price objective on shares of Veeva Systems from $256.00 to $273.00 and gave the stock a “buy” rating in a report on Tuesday, August 27th. Needham & Company LLC reissued a “buy” rating and set a $260.00 price objective on shares of Veeva Systems in a research report on Friday, November 8th. Truist Financial raised their target price on Veeva Systems from $197.00 to $207.00 and gave the stock a “hold” rating in a report on Tuesday, September 3rd. Royal Bank of Canada boosted their price target on Veeva Systems from $250.00 to $275.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, Raymond James raised their price objective on Veeva Systems from $230.00 to $235.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $236.92.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,126 shares of the company’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 $6,483,390.13. This represents a 4.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 10.50% of the company’s stock.

Veeva Systems Stock Down 0.0 %

Shares of NYSE:VEEV opened at $226.88 on Wednesday. The firm has a fifty day simple moving average of $214.98 and a two-hundred day simple moving average of $201.48. The stock has a market capitalization of $36.74 billion, a P/E ratio of 60.50, a PEG ratio of 2.09 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.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Wednesday, August 28th. The technology company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.03. The business had revenue of $676.18 million for 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%. On average, analysts expect that Veeva Systems Inc. will post 4.21 earnings per share for the current year.

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.