Pathstone Holdings LLC Acquires 1,508 Shares of Veeva Systems Inc. (NYSE:VEEV)

Pathstone Holdings LLC lifted its stake in Veeva Systems Inc. (NYSE:VEEV) by 15.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,281 shares of the technology company’s stock after buying an additional 1,508 shares during the period. Pathstone Holdings LLC’s holdings in Veeva Systems were worth $2,368,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of Veeva Systems during the third quarter valued at about $26,000. Advisors Asset Management Inc. purchased a new position in shares of Veeva Systems in the 1st quarter valued at approximately $28,000. Blue Trust Inc. lifted its position in Veeva Systems by 3,460.0% during the second quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock valued at $33,000 after buying an additional 173 shares during the period. DT Investment Partners LLC purchased a new position in Veeva Systems during the 2nd quarter valued at about $35,000. Finally, Mather Group LLC. boosted its position in shares of Veeva Systems by 166.3% in the 2nd quarter. Mather Group LLC. now owns 253 shares of the technology company’s stock worth $46,000 after purchasing an additional 158 shares in the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Thomas D. Schwenger sold 1,126 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $240.01, for a total value of $270,251.26. Following the sale, the insider now directly owns 27,013 shares in the company, valued at approximately $6,483,390.13. This trade represents a 4.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 10.50% of the company’s stock.

Veeva Systems Stock Up 4.8 %

Shares of Veeva Systems stock opened at $226.95 on Tuesday. The company has a market capitalization of $36.75 billion, a PE ratio of 60.52, a price-to-earnings-growth ratio of 2.09 and a beta of 0.81. Veeva Systems Inc. has a 52 week low of $165.12 and a 52 week high of $240.68. The stock’s fifty day moving average is $214.74 and its two-hundred day moving average is $201.32.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Wednesday, August 28th. The technology company reported $1.07 EPS for the quarter, topping the consensus estimate 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. As a group, research analysts anticipate that Veeva Systems Inc. will post 4.21 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. StockNews.com upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. Guggenheim upped their price objective on Veeva Systems from $233.00 to $249.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 price target on shares of Veeva Systems in a research report on Friday, November 8th. BNP Paribas initiated coverage on Veeva Systems in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $286.00 price objective for the company. Finally, Truist Financial upped their target price on shares of Veeva Systems from $197.00 to $207.00 and gave the stock a “hold” rating in a research report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Veeva Systems currently has an average rating of “Moderate Buy” and an average price target of $236.92.

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.