Sequoia Financial Advisors LLC Has $3.45 Million Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Sequoia Financial Advisors LLC grew its holdings in Veeva Systems Inc. (NYSE:VEEV) by 3.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 16,449 shares of the technology company’s stock after purchasing an additional 550 shares during the period. Sequoia Financial Advisors LLC’s holdings in Veeva Systems were worth $3,452,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of VEEV. First Financial Corp IN acquired a new position in shares of Veeva Systems during the first quarter worth $35,000. Brookstone Capital Management acquired a new position in Veeva Systems in the 1st quarter worth about $234,000. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Veeva Systems by 3.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 9,479 shares of the technology company’s stock valued at $2,196,000 after purchasing an additional 293 shares in the last quarter. Investment Research & Advisory Group Inc. grew its holdings in shares of Veeva Systems by 116.6% during the first quarter. Investment Research & Advisory Group Inc. now owns 11,583 shares of the technology company’s stock worth $2,684,000 after purchasing an additional 6,236 shares during the last quarter. Finally, Merrion Investment Management Co LLC acquired a new position in shares of Veeva Systems in the first quarter valued at approximately $232,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on VEEV shares. BNP Paribas initiated coverage on shares of Veeva Systems in a report on Tuesday, October 8th. They set an “outperform” rating and a $286.00 target price on the stock. JPMorgan Chase & Co. increased their price objective on Veeva Systems from $203.00 to $208.00 and gave the company a “neutral” rating in a report on Monday, September 9th. Raymond James lifted their target price on Veeva Systems from $230.00 to $235.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Robert W. Baird increased their price target on Veeva Systems from $245.00 to $251.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Finally, Bank of America lifted their price objective on Veeva Systems from $204.00 to $240.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $232.96.

Insiders Place Their Bets

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

Veeva Systems Stock Down 0.9 %

VEEV stock opened at $217.68 on Thursday. Veeva Systems Inc. has a twelve month low of $162.72 and a twelve month high of $236.90. The firm has a market cap of $35.19 billion, a PE ratio of 64.21, a price-to-earnings-growth ratio of 2.15 and a beta of 0.81. The business has a 50 day moving average of $210.29 and a 200 day moving average of $198.85.

Veeva Systems (NYSE:VEEV) last posted its earnings results on Wednesday, August 28th. The technology company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.03. The business had revenue of $676.18 million during the quarter, compared to analyst estimates of $667.21 million. Veeva Systems had a return on equity of 13.30% and a net margin of 23.91%. On average, research analysts expect that Veeva Systems Inc. will post 4.21 earnings per share 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.