Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its position in Veeva Systems Inc. (NYSE:VEEV) by 5.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 107,597 shares of the technology company’s stock after selling 5,964 shares during the quarter. Thrivent Financial for Lutherans owned 0.07% of Veeva Systems worth $19,691,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. acquired a new stake in shares of Veeva Systems in the first quarter worth $28,000. First Financial Corp IN purchased a new position in Veeva Systems in the first quarter valued at about $35,000. Larson Financial Group LLC boosted its position 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 worth $38,000 after buying an additional 150 shares during the period. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Veeva Systems in the fourth quarter valued at about $32,000. Finally, Blue Trust Inc. raised its holdings in shares of Veeva Systems by 3,460.0% during the 2nd quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock valued at $33,000 after buying an additional 173 shares during the period. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Stifel Nicolaus decreased their price target on Veeva Systems from $250.00 to $210.00 and set a “buy” rating for the company in a report on Friday, May 31st. Bank of America raised their price target on shares of Veeva Systems from $204.00 to $240.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Canaccord Genuity Group cut their price objective on shares of Veeva Systems from $220.00 to $210.00 and set a “hold” rating on the stock in a report on Friday, May 31st. UBS Group raised their target price on Veeva Systems from $185.00 to $215.00 and gave the company a “neutral” rating in a research note on Monday, August 26th. Finally, Barclays boosted their price target on Veeva Systems from $220.00 to $240.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $229.96.

Veeva Systems Stock Down 1.5 %

Shares of NYSE:VEEV opened at $207.86 on Wednesday. The company has a market cap of $33.60 billion, a PE ratio of 61.32, a P/E/G ratio of 2.12 and a beta of 0.81. Veeva Systems Inc. has a fifty-two week low of $162.72 and a fifty-two week high of $236.90. The firm has a 50-day simple moving average of $200.18 and a 200 day simple moving average of $201.15.

Veeva Systems (NYSE:VEEV) last posted its 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 company had revenue of $676.18 million during the quarter, compared to analyst estimates of $667.21 million. Veeva Systems had a return on equity of 13.30% and a net margin of 23.91%. As a group, research analysts forecast that Veeva Systems Inc. will post 4.2 EPS for the current fiscal year.

Insider Buying and Selling

In other news, SVP Jonathan Faddis sold 2,353 shares of the business’s stock in a transaction 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 transaction, the senior vice president now owns 9,035 shares of the company’s stock, valued at $1,807,000. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 10.50% of the stock is 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.