Sheaff Brock Investment Advisors LLC Boosts Stake in Veeva Systems Inc. (NYSE:VEEV)

Sheaff Brock Investment Advisors LLC raised its position in Veeva Systems Inc. (NYSE:VEEV) by 1.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,955 shares of the technology company’s stock after buying an additional 166 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in Veeva Systems were worth $1,879,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. General American Investors Co. Inc. bought a new position in Veeva Systems in the 3rd quarter valued at $5,133,000. Procyon Advisors LLC purchased a new position in shares of Veeva Systems during the third quarter valued at about $712,000. Envestnet Portfolio Solutions Inc. boosted its stake in Veeva Systems by 44.9% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 29,782 shares of the technology company’s stock worth $5,450,000 after acquiring an additional 9,232 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Veeva Systems by 138.9% during the third quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock worth $457,366,000 after acquiring an additional 1,267,061 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its stake in Veeva Systems by 46.9% during the first quarter. CANADA LIFE ASSURANCE Co now owns 132,760 shares of the technology company’s stock worth $30,786,000 after acquiring an additional 42,396 shares in the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on VEEV. JPMorgan Chase & Co. increased their price target on shares of Veeva Systems from $203.00 to $208.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. StockNews.com upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. Royal Bank of Canada lifted their price objective on shares of Veeva Systems from $250.00 to $275.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Barclays lifted their price objective on shares of Veeva Systems from $240.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Finally, Truist Financial lifted their price target on shares of Veeva Systems from $197.00 to $207.00 and gave the stock a “hold” rating in a research note on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $237.00.

Insider Activity

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,126 shares of Veeva Systems stock in a transaction on Friday, November 8th. The shares were sold at an average price of $240.01, for a total transaction of $270,251.26. Following the sale, the insider now owns 27,013 shares in the company, valued at $6,483,390.13. The trade was a 4.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 sale, the senior vice president now owns 9,035 shares in the company, valued at $1,807,000. This represents a 20.66 % decrease in their position. The disclosure for this sale can be found here. Insiders own 10.50% of the company’s stock.

Veeva Systems Trading Down 1.5 %

NYSE VEEV opened at $226.32 on Friday. The stock has a market cap of $36.65 billion, a P/E ratio of 61.26, a PEG ratio of 2.25 and a beta of 0.81. The company’s fifty day simple moving average is $215.14 and its 200-day simple moving average is $200.49. Veeva Systems Inc. has a 52 week low of $165.12 and a 52 week high of $240.68.

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

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.