Veeva Systems Inc. (NYSE:VEEV) Shares Bought by LPL Financial LLC

LPL Financial LLC raised its position in Veeva Systems Inc. (NYSE:VEEV) by 14.9% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 41,990 shares of the technology company’s stock after buying an additional 5,452 shares during the quarter. LPL Financial LLC’s holdings in Veeva Systems were worth $11,807,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Jacobi Capital Management LLC acquired a new position in shares of Veeva Systems during the 2nd quarter worth $35,000. Newfound Research LLC acquired a new position in shares of Veeva Systems during the 3rd quarter worth $41,000. Freestone Capital Holdings LLC acquired a new position in shares of Veeva Systems during the 3rd quarter worth $44,000. Creative Financial Designs Inc. ADV acquired a new position in shares of Veeva Systems during the 2nd quarter worth $47,000. Finally, Duncker Streett & Co. Inc. acquired a new position in shares of Veeva Systems during the 2nd quarter worth $47,000. 79.56% of the stock is currently owned by institutional investors.

A number of equities analysts have recently weighed in on VEEV shares. Barclays upped their price target on shares of Veeva Systems from $200.00 to $261.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 26th. They noted that the move was a valuation call. Raymond James boosted their price objective on shares of Veeva Systems from $285.00 to $335.00 and gave the stock an “outperform” rating in a research report on Monday, October 26th. Morgan Stanley boosted their price objective on shares of Veeva Systems from $253.00 to $323.00 and gave the stock an “overweight” rating in a research report on Monday, August 31st. JPMorgan Chase & Co. boosted their price objective on shares of Veeva Systems from $200.00 to $297.00 and gave the stock a “neutral” rating in a research report on Friday, August 28th. Finally, FBN Securities boosted their price objective on shares of Veeva Systems from $300.00 to $310.00 and gave the stock an “outperform” rating in a research report on Friday, August 28th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and fourteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $275.28.

In related news, SVP Frederic Lequient sold 108 shares of the stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $267.76, for a total transaction of $28,918.08. Following the completion of the sale, the senior vice president now owns 495 shares of the company’s stock, valued at approximately $132,541.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Michele O’connor sold 91 shares of the stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $278.00, for a total transaction of $25,298.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,128 shares of company stock worth $6,748,344. Insiders own 14.38% of the company’s stock.

Shares of VEEV stock opened at $274.25 on Friday. The firm has a market cap of $41.36 billion, a P/E ratio of 133.13, a PEG ratio of 10.89 and a beta of 0.91. Veeva Systems Inc. has a 1-year low of $118.11 and a 1-year high of $313.99. The firm’s 50-day simple moving average is $285.94 and its 200-day simple moving average is $253.70.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Thursday, August 27th. The technology company reported $0.72 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.08. The business had revenue of $353.68 million for the quarter, compared to analyst estimates of $340.00 million. Veeva Systems had a net margin of 25.60% and a return on equity of 15.77%. The company’s revenue was up 32.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.55 EPS. As a group, equities analysts expect that Veeva Systems Inc. will post 1.82 earnings per share for the current year.

Veeva Systems Profile

Veeva Systems Inc provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, the Middle East, Africa, and Latin America. The company offers Veeva Commercial Cloud, a suite of multichannel customer relationship management applications, commercial data warehouse, allocation and alignment applications, master data management application, and data and services; and Veeva Vault, a cloud-based enterprise content and data management applications for managing commercial functions, including medical, sales, and marketing, as well as research and development functions, such as clinical, regulatory, quality, and safety.

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Institutional Ownership by Quarter for Veeva Systems (NYSE:VEEV)

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