Blossom Wealth Management Has $210,000 Stake in Veeva Systems Inc. (NYSE:VEEV)

Blossom Wealth Management reduced its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 33.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,000 shares of the technology company’s stock after selling 500 shares during the period. Blossom Wealth Management’s holdings in Veeva Systems were worth $210,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in VEEV. Vanguard Group Inc. raised its position in shares of Veeva Systems by 7.5% during the first quarter. Vanguard Group Inc. now owns 14,150,070 shares of the technology company’s stock worth $3,278,430,000 after purchasing an additional 991,208 shares during the period. Van ECK Associates Corp lifted its stake in shares of Veeva Systems by 9.0% in the first quarter. Van ECK Associates Corp now owns 1,934,150 shares of the technology company’s stock valued at $448,123,000 after buying an additional 159,085 shares in the last quarter. TD Asset Management Inc grew its holdings in shares of Veeva Systems by 17.5% during the first quarter. TD Asset Management Inc now owns 1,227,223 shares of the technology company’s stock valued at $284,335,000 after buying an additional 182,762 shares during the last quarter. Swedbank AB increased its position in shares of Veeva Systems by 4.9% during the second quarter. Swedbank AB now owns 1,031,064 shares of the technology company’s stock worth $188,695,000 after acquiring an additional 48,402 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Veeva Systems by 1,122.3% during the second quarter. Principal Financial Group Inc. now owns 912,223 shares of the technology company’s stock worth $166,946,000 after acquiring an additional 837,593 shares in the last quarter. 88.20% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

VEEV has been the subject of a number of analyst reports. Raymond James lifted their price target on Veeva Systems from $230.00 to $235.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 target price on shares of Veeva Systems in a research report on Thursday, August 29th. Barclays raised their price objective on Veeva Systems from $220.00 to $240.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Guggenheim upped their target price on shares of Veeva Systems from $233.00 to $249.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Finally, BNP Paribas began coverage on shares of Veeva Systems in a research report on Tuesday, October 8th. They set an “outperform” rating and a $286.00 price target on the stock. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $232.96.

Insider Activity at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 2,353 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $200.00, for a total value of $470,600.00. Following the completion of the transaction, the senior vice president now directly owns 9,035 shares in the company, valued at approximately $1,807,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.50% of the stock is currently owned by company insiders.

Veeva Systems Stock Down 1.1 %

Shares of VEEV opened at $219.51 on Wednesday. The stock has a market capitalization of $35.55 billion, a P/E ratio of 58.54, a PEG ratio of 2.15 and a beta of 0.81. Veeva Systems Inc. has a twelve month low of $162.72 and a twelve month high of $236.90. The firm has a fifty day simple moving average of $209.70 and a two-hundred day simple moving average of $198.72.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings results on Wednesday, August 28th. The technology company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $667.21 million. Sell-side analysts expect that Veeva Systems Inc. will post 4.21 EPS 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.