Lyell Wealth Management LP Has $11.26 Million Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Lyell Wealth Management LP reduced its holdings in Veeva Systems Inc. (NYSE:VEEV) by 1.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,659 shares of the technology company’s stock after selling 686 shares during the period. Lyell Wealth Management LP’s holdings in Veeva Systems were worth $11,261,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of Veeva Systems during the third quarter worth approximately $26,000. Advisors Asset Management Inc. purchased a new stake in Veeva Systems in the 1st quarter worth approximately $28,000. Blue Trust Inc. boosted its stake in shares of Veeva Systems by 3,460.0% during the 2nd 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 shares of Veeva Systems during the 2nd quarter valued at $35,000. Finally, Larson Financial Group LLC increased its stake in shares of Veeva Systems by 1,153.8% in the first quarter. Larson Financial Group LLC now owns 163 shares of the technology company’s stock worth $38,000 after acquiring an additional 150 shares during the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Veeva Systems Trading Down 0.2 %

Shares of Veeva Systems stock opened at $212.22 on Friday. The company has a market cap of $34.36 billion, a price-to-earnings ratio of 56.59, a PEG ratio of 2.13 and a beta of 0.81. Veeva Systems Inc. has a 1 year low of $162.72 and a 1 year high of $236.90. The company’s fifty day simple moving average is $210.69 and its 200-day simple moving average is $198.95.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings results on Wednesday, August 28th. The technology company reported $1.07 earnings per share (EPS) 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, research analysts forecast that Veeva Systems Inc. will post 4.21 earnings per share for the current fiscal year.

Insider Activity at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 2,353 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $1,807,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 10.50% of the company’s stock.

Wall Street Analysts Forecast Growth

VEEV has been the topic of a number of recent research reports. Piper Sandler boosted their target price on Veeva Systems from $225.00 to $230.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Raymond James increased their price objective on Veeva Systems from $230.00 to $235.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. UBS Group raised their price objective on shares of Veeva Systems from $185.00 to $215.00 and gave the company a “neutral” rating in a research report on Monday, August 26th. Citigroup boosted their target price on shares of Veeva Systems from $256.00 to $273.00 and gave the stock a “buy” rating in a research report on Tuesday, August 27th. Finally, 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 price target on the stock. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $233.13.

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.