Clearbridge Investments LLC Boosts Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Clearbridge Investments LLC lifted its stake in Veeva Systems Inc. (NYSE:VEEV) by 0.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,682 shares of the technology company’s stock after buying an additional 52 shares during the period. Clearbridge Investments LLC’s holdings in Veeva Systems were worth $2,138,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Advisors Asset Management Inc. bought a new stake in Veeva Systems in the first quarter valued at approximately $28,000. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Veeva Systems in the fourth quarter worth $32,000. Blue Trust Inc. raised its holdings in 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 last quarter. First Financial Corp IN purchased a new stake in Veeva Systems during the 1st quarter valued at $35,000. Finally, DT Investment Partners LLC bought a new stake in Veeva Systems in the 2nd quarter worth $35,000. Institutional investors own 88.20% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on VEEV. Guggenheim upped their price objective on shares of Veeva Systems from $233.00 to $249.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 price objective on shares of Veeva Systems in a research report on Thursday, August 29th. Citigroup boosted their target price on Veeva Systems from $256.00 to $273.00 and gave the company a “buy” rating in a research note on Tuesday, August 27th. Bank of America lifted their target price on shares of Veeva Systems from $204.00 to $240.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Finally, BTIG Research initiated coverage on shares of Veeva Systems in a research report on Tuesday, July 9th. They set a “buy” rating and a $240.00 price target on the stock. One research 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 company has a consensus rating of “Moderate Buy” and a consensus price target of $230.65.

Veeva Systems Trading Up 0.1 %

Shares of VEEV opened at $204.67 on Friday. Veeva Systems Inc. has a 12 month low of $162.72 and a 12 month high of $236.90. The business’s fifty day simple moving average is $203.71 and its two-hundred day simple moving average is $200.08. The company has a market cap of $33.09 billion, a price-to-earnings ratio of 60.37, a P/E/G ratio of 2.02 and a beta of 0.81.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Wednesday, August 28th. The technology company reported $1.07 EPS for the quarter, beating the consensus estimate of $1.04 by $0.03. Veeva Systems had a return on equity of 13.30% and a net margin of 23.91%. The company had revenue of $676.18 million for the quarter, compared to analysts’ expectations of $667.21 million. As a group, research analysts forecast that Veeva Systems Inc. will post 4.21 EPS for the current year.

Insider Transactions at Veeva Systems

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 transaction of $470,600.00. Following the transaction, the senior vice president now owns 9,035 shares in the company, valued at $1,807,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 10.50% of the company’s stock.

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.