Atria Investments LLC Grows Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Atria Investments LLC lifted its stake in Veeva Systems Inc. (NYSE:VEEVGet Rating) by 15.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,287 shares of the technology company’s stock after purchasing an additional 1,957 shares during the period. Atria Investments LLC’s holdings in Veeva Systems were worth $2,356,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Harbor Investment Advisory LLC boosted its holdings in Veeva Systems by 120.0% in the second quarter. Harbor Investment Advisory LLC now owns 132 shares of the technology company’s stock valued at $26,000 after purchasing an additional 72 shares during the period. Fieldpoint Private Securities LLC acquired a new stake in Veeva Systems in the second quarter valued at $30,000. City Holding Co. acquired a new stake in Veeva Systems in the third quarter valued at $34,000. Western Pacific Wealth Management LP raised its stake in Veeva Systems by 11,200.0% in the third quarter. Western Pacific Wealth Management LP now owns 226 shares of the technology company’s stock valued at $37,000 after buying an additional 224 shares in the last quarter. Finally, Global Wealth Management Investment Advisory Inc. raised its stake in Veeva Systems by 63.9% in the first quarter. Global Wealth Management Investment Advisory Inc. now owns 218 shares of the technology company’s stock valued at $46,000 after buying an additional 85 shares in the last quarter. 78.76% of the stock is currently owned by hedge funds and other institutional investors.

Veeva Systems Trading Up 1.0 %

Shares of VEEV opened at $164.24 on Tuesday. Veeva Systems Inc. has a twelve month low of $151.02 and a twelve month high of $239.67. The stock’s 50 day moving average is $172.80 and its two-hundred day moving average is $183.52. The firm has a market capitalization of $25.57 billion, a PE ratio of 67.04, a P/E/G ratio of 4.16 and a beta of 0.89.

Veeva Systems (NYSE:VEEVGet Rating) last announced its quarterly earnings results on Thursday, December 1st. The technology company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.66 by $0.03. The business had revenue of $552.35 million for the quarter, compared to analyst estimates of $545.78 million. Veeva Systems had a return on equity of 12.81% and a net margin of 19.08%. On average, sell-side analysts predict that Veeva Systems Inc. will post 2.52 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Cowen assumed coverage on Veeva Systems in a research note on Tuesday, December 6th. They issued a “market perform” rating on the stock. Cowen started coverage on Veeva Systems in a research note on Tuesday, December 6th. They issued a “market perform” rating and a $184.00 price target on the stock. SVB Leerink cut their target price on Veeva Systems from $242.00 to $233.00 and set an “outperform” rating on the stock in a research report on Friday, December 2nd. Robert W. Baird cut their target price on Veeva Systems from $250.00 to $233.00 in a research report on Monday, October 31st. Finally, Oppenheimer cut their target price on Veeva Systems from $250.00 to $225.00 and set an “outperform” rating on the stock in a research report on Thursday, January 12th. Ten analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Veeva Systems currently has a consensus rating of “Moderate Buy” and an average target price of $209.30.

Insider Transactions at Veeva Systems

In other news, EVP Alan Mateo sold 15,061 shares of the business’s stock in a transaction that occurred on Wednesday, December 7th. The stock was sold at an average price of $165.83, for a total transaction of $2,497,565.63. Following the sale, the executive vice president now owns 17,559 shares of the company’s stock, valued at approximately $2,911,808.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Alan Mateo sold 15,061 shares of Veeva Systems stock in a transaction that occurred on Wednesday, December 7th. The stock was sold at an average price of $165.83, for a total transaction of $2,497,565.63. Following the completion of the transaction, the executive vice president now directly owns 17,559 shares in the company, valued at approximately $2,911,808.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Matthew J. Wallach sold 10,000 shares of Veeva Systems stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $169.49, for a total value of $1,694,900.00. Following the transaction, the director now owns 2,546 shares of the company’s stock, valued at $431,521.54. The disclosure for this sale can be found here. Insiders have sold 314,110 shares of company stock valued at $52,671,519 in the last quarter. 13.23% of the stock is currently owned by corporate insiders.

About Veeva Systems

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Veeva Systems Inc provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, the Middle East, Africa, and Latin America. The company offers Veeva Commercial Cloud, a suite of software, data, and analytics solutions, which include Veeva customer relationship management (CRM) and Veeva Medical CRM, Veeva CLM, Veeva CRM MyInsights, Veeva CLM, Veeva CRM Approved Email, Veeva CRM Engage, Veeva Align, Veeva CRM Events Management, Veeva Nitro, Veeva OpenData, Veeva Link, Veeva Network, Veeva Crossix, Veeva Data Cloud, and MyVeeva for Patients; and Veeva Vault, a cloud-based enterprise content and data management applications for managing commercial functions, including sales and marketing, and medical content and communications, as well as research and development functions, such as clinical, regulatory, quality, and safety.

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Institutional Ownership by Quarter for Veeva Systems (NYSE:VEEV)

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