Trust Co of Kansas Grows Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Trust Co of Kansas boosted its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 1.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,721 shares of the technology company’s stock after purchasing an additional 254 shares during the quarter. Veeva Systems comprises about 2.6% of Trust Co of Kansas’ investment portfolio, making the stock its 18th largest position. Trust Co of Kansas’ holdings in Veeva Systems were worth $5,398,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of VEEV. Advisors Asset Management Inc. purchased a new stake in shares of Veeva Systems in the first quarter valued at $28,000. Blue Trust Inc. raised its stake in shares of 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. First Financial Corp IN purchased a new stake in shares of Veeva Systems in the first quarter valued at $35,000. DT Investment Partners LLC purchased a new stake in shares of Veeva Systems in the second quarter valued at $35,000. Finally, Larson Financial Group LLC raised its stake in shares of Veeva Systems by 1,153.8% in the first quarter. Larson Financial Group LLC now owns 163 shares of the technology company’s stock valued at $38,000 after acquiring an additional 150 shares during the period. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Insider Activity

In related news, SVP Jonathan Faddis sold 2,353 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $200.00, for a total value of $470,600.00. Following the completion of the transaction, the senior vice president now directly owns 9,035 shares of the company’s stock, valued at $1,807,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 10.50% of the company’s stock.

Veeva Systems Stock Performance

NYSE:VEEV opened at $204.44 on Wednesday. Veeva Systems Inc. has a fifty-two week low of $162.72 and a fifty-two week high of $236.90. The stock has a market capitalization of $33.10 billion, a P/E ratio of 60.31, a P/E/G ratio of 1.99 and a beta of 0.81. The company’s 50-day simple moving average is $203.91 and its 200-day simple moving average is $199.65.

Veeva Systems (NYSE:VEEV) last released its quarterly 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 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 analysts’ expectations of $667.21 million. On average, research analysts forecast that Veeva Systems Inc. will post 4.21 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Raymond James increased their target price on shares of Veeva Systems from $230.00 to $235.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Needham & Company LLC restated a “buy” rating and issued a $260.00 price target on shares of Veeva Systems in a report on Thursday, August 29th. Robert W. Baird upped their price target on shares of Veeva Systems from $245.00 to $251.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Bank of America upped their price target 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. Finally, Guggenheim upped their price target 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 research analyst has rated the stock with a sell rating, seven have given a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, Veeva Systems presently has a consensus rating of “Moderate Buy” and an average target price of $232.96.

Veeva Systems Company 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.