Trust Co. of Vermont Raises Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Trust Co. of Vermont lifted its holdings in Veeva Systems Inc. (NYSE:VEEV) by 3,636.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 411 shares of the technology company’s stock after buying an additional 400 shares during the quarter. Trust Co. of Vermont’s holdings in Veeva Systems were worth $75,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Advisors Asset Management Inc. bought a new position in shares of Veeva Systems in the 1st quarter worth approximately $28,000. DSM Capital Partners LLC purchased a new position in shares of Veeva Systems during the fourth quarter valued at $29,000. First Financial Corp IN purchased a new stake in shares of Veeva Systems during the first quarter worth about $35,000. Larson Financial Group LLC lifted its holdings in shares of Veeva Systems by 1,153.8% during the first quarter. Larson Financial Group LLC now owns 163 shares of the technology company’s stock worth $38,000 after purchasing an additional 150 shares during the period. Finally, Vermillion & White Wealth Management Group LLC acquired a new position in Veeva Systems in the fourth quarter valued at approximately $32,000. 88.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on VEEV. Bank of America dropped their price target on Veeva Systems from $240.00 to $204.00 and set a “neutral” rating for the company in a research report on Friday, May 31st. UBS Group dropped their price objective on Veeva Systems from $235.00 to $185.00 and set a “neutral” rating on the stock in a report on Friday, May 31st. Citigroup dropped their target price on Veeva Systems from $274.00 to $256.00 and set a “buy” rating on the stock in a report on Monday, June 3rd. Morgan Stanley decreased their target price on Veeva Systems from $210.00 to $173.00 and set an “underweight” rating on the stock in a research report on Friday, May 31st. Finally, Evercore ISI cut their price target on Veeva Systems from $230.00 to $200.00 and set an “in-line” rating for the company in a report on Friday, May 31st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, Veeva Systems currently has a consensus rating of “Moderate Buy” and an average price target of $228.27.

Veeva Systems Trading Down 0.0 %

Shares of VEEV traded down $0.07 on Wednesday, reaching $185.40. The company’s stock had a trading volume of 266,569 shares, compared to its average volume of 978,716. Veeva Systems Inc. has a twelve month low of $162.72 and a twelve month high of $236.90. The stock has a market capitalization of $29.97 billion, a PE ratio of 55.22, a PEG ratio of 1.81 and a beta of 0.80. The firm has a fifty day moving average of $184.85 and a 200-day moving average of $203.89.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Thursday, May 30th. The technology company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.10. Veeva Systems had a net margin of 22.34% and a return on equity of 12.74%. The business had revenue of $650.35 million during the quarter, compared to the consensus estimate of $641.73 million. As a group, equities analysts anticipate that Veeva Systems Inc. will post 4.19 EPS for the current fiscal year.

Insider Activity

In other Veeva Systems news, CFO Timothy S. Cabral sold 15,000 shares of the firm’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $184.33, for a total value of $2,764,950.00. Following the sale, the chief financial officer now owns 8,391 shares of the company’s stock, valued at approximately $1,546,713.03. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate 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.