Avitas Wealth Management LLC Has $328,000 Position in Veeva Systems Inc. (NYSE:VEEV)

Avitas Wealth Management LLC lowered its stake in Veeva Systems Inc. (NYSE:VEEV) by 7.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,563 shares of the technology company’s stock after selling 118 shares during the period. Avitas Wealth Management LLC’s holdings in Veeva Systems were worth $328,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Patriot Financial Group Insurance Agency LLC increased its holdings in shares of Veeva Systems by 0.7% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 6,924 shares of the technology company’s stock valued at $1,453,000 after purchasing an additional 48 shares in the last quarter. Clearbridge Investments LLC increased its holdings in shares of Veeva Systems by 0.4% in the second quarter. Clearbridge Investments LLC now owns 11,682 shares of the technology company’s stock valued at $2,138,000 after purchasing an additional 52 shares in the last quarter. Western Pacific Wealth Management LP grew its holdings in Veeva Systems by 23.3% during the 1st quarter. Western Pacific Wealth Management LP now owns 307 shares of the technology company’s stock worth $71,000 after acquiring an additional 58 shares during the period. Park Place Capital Corp grew its holdings in Veeva Systems by 11.5% during the 3rd quarter. Park Place Capital Corp now owns 574 shares of the technology company’s stock worth $120,000 after acquiring an additional 59 shares during the period. Finally, OV Management LLC grew its holdings in Veeva Systems by 1.0% during the 2nd quarter. OV Management LLC now owns 6,659 shares of the technology company’s stock worth $1,219,000 after acquiring an additional 63 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on VEEV. Guggenheim lifted their target price on shares of Veeva Systems from $233.00 to $249.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. TD Cowen lifted their target price on shares of Veeva Systems from $180.00 to $192.00 and gave the stock a “hold” rating in a report on Thursday, August 29th. JPMorgan Chase & Co. lifted their target price on shares of Veeva Systems from $203.00 to $208.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. Robert W. Baird lowered their target price on shares of Veeva Systems from $251.00 to $245.00 and set an “outperform” rating for the company in a report on Monday. Finally, Barclays lifted their price target on shares of Veeva Systems from $220.00 to $240.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $232.87.

Insider Transactions at Veeva Systems

In other news, SVP Jonathan Faddis sold 2,353 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $200.00, for a total transaction of $470,600.00. Following the transaction, the senior vice president now directly owns 9,035 shares in the company, valued at $1,807,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 10.50% of the stock is owned by company insiders.

Veeva Systems Trading Up 0.3 %

Shares of VEEV stock opened at $214.56 on Thursday. Veeva Systems Inc. has a 1 year low of $162.72 and a 1 year high of $236.90. The firm’s fifty day moving average price is $212.11 and its two-hundred day moving average price is $198.89. The firm has a market capitalization of $34.74 billion, a P/E ratio of 57.22, a PEG ratio of 2.06 and a beta of 0.81.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Wednesday, August 28th. The technology company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.03. The company had revenue of $676.18 million for 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%. As a group, equities research analysts forecast that Veeva Systems Inc. will post 4.21 EPS for the current fiscal year.

About Veeva Systems

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.