Semmax Financial Advisors Inc. Raises Holdings in Veeva Systems Inc. (NYSE:VEEV)

Semmax Financial Advisors Inc. increased its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 12.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,847 shares of the technology company’s stock after purchasing an additional 523 shares during the quarter. Semmax Financial Advisors Inc.’s holdings in Veeva Systems were worth $922,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in VEEV. Vanguard Group Inc. grew its position in shares of Veeva Systems by 7.5% in the 1st quarter. Vanguard Group Inc. now owns 14,150,070 shares of the technology company’s stock worth $3,278,430,000 after buying an additional 991,208 shares during the last quarter. Van ECK Associates Corp boosted its holdings in Veeva Systems by 9.0% in the first quarter. Van ECK Associates Corp now owns 1,934,150 shares of the technology company’s stock worth $448,123,000 after acquiring an additional 159,085 shares in the last quarter. TD Asset Management Inc grew its position in Veeva Systems by 17.5% during the 1st quarter. TD Asset Management Inc now owns 1,227,223 shares of the technology company’s stock worth $284,335,000 after purchasing an additional 182,762 shares during the last quarter. Swedbank AB lifted its position in Veeva Systems by 4.9% during the 2nd quarter. Swedbank AB now owns 1,031,064 shares of the technology company’s stock worth $188,695,000 after acquiring an additional 48,402 shares during the period. Finally, Principal Financial Group Inc. raised its stake in shares of Veeva Systems by 1,122.3% in the second quarter. Principal Financial Group Inc. now owns 912,223 shares of the technology company’s stock worth $166,946,000 after purchasing an additional 837,593 shares during the last quarter. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Trading Down 1.8 %

Shares of NYSE VEEV opened at $211.04 on Tuesday. The stock has a market cap of $34.12 billion, a PE ratio of 62.25, a P/E/G ratio of 2.12 and a beta of 0.81. Veeva Systems Inc. has a 12-month low of $162.72 and a 12-month high of $236.90. The company has a 50-day moving average of $199.76 and a 200 day moving average of $201.29.

Veeva Systems (NYSE:VEEV) last posted 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%. On average, sell-side analysts forecast that Veeva Systems Inc. will post 4.2 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Raymond James raised their price target on shares of Veeva Systems from $230.00 to $235.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. JPMorgan Chase & Co. upped their price target 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. Piper Sandler lifted their price objective on Veeva Systems from $225.00 to $230.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Truist Financial boosted their price objective on Veeva Systems from $197.00 to $207.00 and gave the company a “hold” rating in a report on Tuesday, September 3rd. Finally, Morgan Stanley dropped their target price on Veeva Systems from $210.00 to $173.00 and set an “underweight” rating on the stock in a report on Friday, May 31st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $229.96.

Insider Buying and Selling at Veeva Systems

In other news, SVP Jonathan Faddis sold 2,353 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $200.00, for a total transaction of $470,600.00. Following the completion of the sale, the senior vice president now owns 9,035 shares in the company, valued at approximately $1,807,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 10.50% of the stock is currently owned by company insiders.

Veeva Systems 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.