Park Place Capital Corp Has $120,000 Holdings in Veeva Systems Inc. (NYSE:VEEV)

Park Place Capital Corp lifted its holdings in Veeva Systems Inc. (NYSE:VEEV) by 11.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 574 shares of the technology company’s stock after purchasing an additional 59 shares during the period. Park Place Capital Corp’s holdings in Veeva Systems were worth $120,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Clearbridge Investments LLC raised its holdings in Veeva Systems by 0.4% in the 2nd quarter. Clearbridge Investments LLC now owns 11,682 shares of the technology company’s stock worth $2,138,000 after acquiring an additional 52 shares during the period. Western Pacific Wealth Management LP raised its holdings in Veeva Systems by 23.3% in the 1st quarter. Western Pacific Wealth Management LP now owns 307 shares of the technology company’s stock worth $71,000 after acquiring an additional 58 shares during the period. OV Management LLC raised its holdings in Veeva Systems by 1.0% in the 2nd quarter. OV Management LLC now owns 6,659 shares of the technology company’s stock worth $1,219,000 after acquiring an additional 63 shares during the period. Simplicity Wealth LLC raised its holdings in Veeva Systems by 1.7% in the 2nd quarter. Simplicity Wealth LLC now owns 4,029 shares of the technology company’s stock worth $737,000 after acquiring an additional 69 shares during the period. Finally, Elo Mutual Pension Insurance Co raised its holdings in Veeva Systems by 0.5% in the 2nd quarter. Elo Mutual Pension Insurance Co now owns 14,047 shares of the technology company’s stock worth $2,571,000 after acquiring an additional 70 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Trading Up 1.3 %

Shares of VEEV stock opened at $204.44 on Wednesday. Veeva Systems Inc. has a 1 year low of $162.72 and a 1 year high of $236.90. The firm’s 50 day moving average is $203.91 and its 200-day moving average is $199.65. The firm has a market capitalization of $33.10 billion, a price-to-earnings ratio of 60.31, a PEG ratio of 1.99 and a beta of 0.81.

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

Analysts Set New Price Targets

VEEV has been the topic of several recent analyst reports. Raymond James lifted their target price on shares of Veeva Systems from $230.00 to $235.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Truist Financial boosted their price objective on shares of Veeva Systems from $197.00 to $207.00 and gave the stock a “hold” rating in a report on Tuesday, September 3rd. Bank of America boosted their price objective on shares of Veeva Systems from $204.00 to $240.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Royal Bank of Canada restated an “outperform” rating and set a $250.00 price objective on shares of Veeva Systems in a report on Thursday, August 29th. Finally, Guggenheim boosted their price objective on shares of Veeva Systems from $233.00 to $249.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $232.96.

Insider Buying and Selling

In related news, SVP Jonathan Faddis sold 2,353 shares of the business’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 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 transaction was disclosed in a filing with the SEC, which is available at this link. 10.50% of the stock is currently owned by insiders.

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.