Bleakley Financial Group LLC Grows Position in Veeva Systems Inc. (NYSE:VEEV)

Bleakley Financial Group LLC grew its stake in Veeva Systems Inc. (NYSE:VEEV) by 11.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,476 shares of the technology company’s stock after acquiring an additional 445 shares during the quarter. Bleakley Financial Group LLC’s holdings in Veeva Systems were worth $939,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Envestnet Portfolio Solutions Inc. lifted its holdings in Veeva Systems by 44.9% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 29,782 shares of the technology company’s stock valued at $5,450,000 after purchasing an additional 9,232 shares in the last quarter. Procyon Advisors LLC acquired a new stake in Veeva Systems during the third quarter worth approximately $712,000. BNP Paribas Financial Markets boosted its position in Veeva Systems by 30.8% during the first quarter. BNP Paribas Financial Markets now owns 89,023 shares of the technology company’s stock worth $20,626,000 after acquiring an additional 20,982 shares during the last quarter. Mediolanum International Funds Ltd purchased a new stake in Veeva Systems in the 1st quarter worth approximately $5,112,000. Finally, CANADA LIFE ASSURANCE Co raised its holdings in Veeva Systems by 46.9% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 132,760 shares of the technology company’s stock valued at $30,786,000 after acquiring an additional 42,396 shares during the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Insiders Place Their Bets

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 of the company’s stock, valued at approximately $1,807,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Truist Financial lifted their price objective on Veeva Systems from $197.00 to $207.00 and gave the company a “hold” rating in a research report on Tuesday, September 3rd. Guggenheim lifted their price target on Veeva Systems from $233.00 to $249.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Piper Sandler increased their price objective on shares of Veeva Systems from $225.00 to $230.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. JPMorgan Chase & Co. boosted their target price 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. Finally, Raymond James increased their price target on shares of Veeva Systems from $230.00 to $235.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. 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 company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $232.96.

Veeva Systems Trading Up 2.0 %

VEEV opened at $221.32 on Monday. Veeva Systems Inc. has a twelve month low of $162.72 and a twelve month high of $236.90. The firm has a market cap of $35.84 billion, a price-to-earnings ratio of 59.02, a PEG ratio of 2.15 and a beta of 0.81. The company has a fifty day simple moving average of $208.39 and a 200 day simple moving average of $198.64.

Veeva Systems (NYSE:VEEV) last announced its earnings results on Wednesday, August 28th. The technology company reported $1.07 earnings per share 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 during the quarter, compared to the consensus estimate of $667.21 million. On average, analysts forecast that Veeva Systems Inc. will post 4.21 earnings per share for the current fiscal year.

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.