Marks Group Wealth Management Inc Buys Shares of 1,304 Veeva Systems Inc. (NYSE:VEEV)

by · The Cerbat Gem

Marks Group Wealth Management Inc bought a new position in shares of Veeva Systems Inc. (NYSE:VEEV – Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 1,304 shares of the technology company’s stock, valued at approximately $274,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Procyon Advisors LLC purchased a new stake in shares of Veeva Systems during the third quarter worth about $712,000. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Veeva Systems by 44.9% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 29,782 shares of the technology company’s stock worth $5,450,000 after buying an additional 9,232 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in shares of Veeva Systems by 46.9% during the first quarter. CANADA LIFE ASSURANCE Co now owns 132,760 shares of the technology company’s stock worth $30,786,000 after buying an additional 42,396 shares during the period. SageView Advisory Group LLC lifted its stake in shares of Veeva Systems by 11,010.4% during the first quarter. SageView Advisory Group LLC now owns 168,545 shares of the technology company’s stock worth $39,050,000 after buying an additional 167,028 shares during the period. Finally, Russell Investments Group Ltd. grew its holdings in shares of Veeva Systems by 13.0% during the first quarter. Russell Investments Group Ltd. now owns 178,851 shares of the technology company’s stock valued at $41,506,000 after buying an additional 20,523 shares during the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

VEEV has been the subject of a number of research reports. Truist Financial lifted their price target on Veeva Systems from $197.00 to $207.00 and gave the stock a “hold” rating in a research report on Tuesday, September 3rd. Raymond James upped their target price on Veeva Systems from $230.00 to $235.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Needham & Company LLC reissued a “buy” rating and set a $260.00 price target on shares of Veeva Systems in a research report on Thursday, August 29th. JPMorgan Chase & Co. upped their price objective on shares of Veeva Systems from $203.00 to $208.00 and gave the company a “neutral” rating in a report on Monday, September 9th. Finally, StockNews.com lowered shares of Veeva Systems from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, Veeva Systems has a consensus rating of “Moderate Buy” and a consensus price target of $232.87.

View Our Latest Stock Report on Veeva Systems

Veeva Systems Stock Performance

Veeva Systems stock opened at $216.45 on Thursday. The stock has a market capitalization of $35.05 billion, a P/E ratio of 57.72, a P/E/G ratio of 2.07 and a beta of 0.81. The company’s fifty day moving average price is $213.48 and its 200 day moving average price is $199.34. Veeva Systems Inc. has a 1 year low of $162.72 and a 1 year high of $236.90.

Veeva Systems (NYSE:VEEV – Get Free Report) last announced its earnings results on Wednesday, August 28th. The technology company reported $1.07 earnings per share (EPS) for the quarter, beating 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 business had revenue of $676.18 million for the quarter, compared to analyst estimates of $667.21 million. Sell-side analysts predict that Veeva Systems Inc. will post 4.21 EPS for the current year.

Insider Buying and Selling at Veeva Systems

In other news, SVP Jonathan Faddis sold 2,353 shares of Veeva Systems 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 sale, the senior vice president now directly owns 9,035 shares of the company’s stock, valued at $1,807,000. The trade was a 0.00 % decrease in their ownership of the stock. 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 Profile

(Free Report)

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.

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