Kestra Private Wealth Services LLC Has $594,000 Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Kestra Private Wealth Services LLC lifted its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 15.7% in the 4th quarter, HoldingsChannel reports. The fund owned 3,084 shares of the technology company’s stock after purchasing an additional 418 shares during the period. Kestra Private Wealth Services LLC’s holdings in Veeva Systems were worth $594,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP increased its holdings in Veeva Systems by 9.6% during the 3rd quarter. Wellington Management Group LLP now owns 3,315,304 shares of the technology company’s stock worth $674,499,000 after purchasing an additional 289,133 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Veeva Systems by 34.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,045,414 shares of the technology company’s stock worth $416,139,000 after buying an additional 522,257 shares in the last quarter. FMR LLC raised its position in Veeva Systems by 15.4% in the 3rd quarter. FMR LLC now owns 1,833,135 shares of the technology company’s stock valued at $372,951,000 after buying an additional 244,599 shares during the last quarter. Van ECK Associates Corp lifted its stake in Veeva Systems by 22.6% during the 4th quarter. Van ECK Associates Corp now owns 1,775,065 shares of the technology company’s stock valued at $341,736,000 after acquiring an additional 327,662 shares in the last quarter. Finally, Blair William & Co. IL increased its stake in shares of Veeva Systems by 0.9% during the 3rd quarter. Blair William & Co. IL now owns 1,466,121 shares of the technology company’s stock worth $298,282,000 after purchasing an additional 12,709 shares during the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Stock Performance

NYSE:VEEV opened at $203.45 on Monday. The firm has a 50-day simple moving average of $217.38 and a two-hundred day simple moving average of $202.07. The firm has a market cap of $32.82 billion, a P/E ratio of 63.18, a P/E/G ratio of 2.05 and a beta of 0.76. Veeva Systems Inc. has a fifty-two week low of $160.21 and a fifty-two week high of $236.90.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Thursday, February 29th. The technology company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.11. Veeva Systems had a net margin of 22.24% and a return on equity of 11.26%. The company had revenue of $630.62 million for the quarter, compared to the consensus estimate of $620.75 million. On average, equities research analysts predict that Veeva Systems Inc. will post 4.11 EPS for the current year.

Analysts Set New Price Targets

VEEV has been the subject of a number of recent research reports. Truist Financial raised their target price on Veeva Systems from $187.00 to $203.00 and gave the stock a “hold” rating in a research report on Friday, March 1st. KeyCorp increased their price target on shares of Veeva Systems from $232.00 to $250.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. Robert W. Baird lifted their price objective on shares of Veeva Systems from $245.00 to $251.00 and gave the stock an “outperform” rating in a report on Friday, March 1st. StockNews.com raised Veeva Systems from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. Finally, The Goldman Sachs Group boosted their price objective on shares of Veeva Systems from $219.00 to $248.00 and gave the stock a “buy” rating in a report on Friday, March 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $234.90.

Insiders Place Their Bets

In related news, EVP Alan Mateo sold 3,391 shares of the company’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $200.86, for a total value of $681,116.26. Following the completion of the transaction, the executive vice president now owns 21,983 shares of the company’s stock, valued at approximately $4,415,505.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Veeva Systems news, EVP Alan Mateo sold 3,391 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $200.86, for a total value of $681,116.26. Following the completion of the transaction, the executive vice president now directly owns 21,983 shares in the company, valued at approximately $4,415,505.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Timothy S. Cabral sold 15,000 shares of Veeva Systems stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $226.04, for a total transaction of $3,390,600.00. Following the sale, the director now owns 23,391 shares in the company, valued at approximately $5,287,301.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,989 shares of company stock valued at $4,818,013. Insiders own 10.50% of the company’s stock.

Veeva Systems 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.