Spectrum Asset Management Inc. NB CA Takes $276,000 Position in Veeva Systems Inc. (NYSE:VEEV)

Spectrum Asset Management Inc. NB CA purchased a new stake in shares of Veeva Systems Inc. (NYSE:VEEV) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,315 shares of the technology company’s stock, valued at approximately $276,000.

Several other institutional investors also recently bought and sold shares of VEEV. Procyon Advisors LLC purchased a new position in Veeva Systems in the third quarter worth $712,000. Envestnet Portfolio Solutions Inc. raised its position in shares of Veeva Systems by 44.9% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 29,782 shares of the technology company’s stock worth $5,450,000 after acquiring an additional 9,232 shares during the period. BNP Paribas Financial Markets increased its stake in shares of Veeva Systems by 30.8% during the first quarter. BNP Paribas Financial Markets now owns 89,023 shares of the technology company’s stock worth $20,626,000 after purchasing an additional 20,982 shares in the last quarter. Mediolanum International Funds Ltd purchased a new stake in shares of Veeva Systems during the first quarter worth about $5,112,000. Finally, CANADA LIFE ASSURANCE Co increased its stake in shares of Veeva Systems by 46.9% during the first quarter. CANADA LIFE ASSURANCE Co now owns 132,760 shares of the technology company’s stock worth $30,786,000 after purchasing an additional 42,396 shares in the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of Veeva Systems from $203.00 to $208.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. BTIG Research initiated coverage on shares of Veeva Systems in a report on Tuesday, July 9th. They issued a “buy” rating and a $240.00 price objective on the stock. UBS Group increased their target price on shares of Veeva Systems from $185.00 to $215.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. Guggenheim increased their target price on shares of Veeva Systems from $233.00 to $249.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Finally, Citigroup increased their target price on shares of Veeva Systems from $256.00 to $273.00 and gave the stock a “buy” rating in a report on Tuesday, August 27th. 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 company currently has an average rating of “Moderate Buy” and an average price target of $232.96.

Insider Transactions at Veeva Systems

In other news, SVP Jonathan Faddis sold 2,353 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $200.00, for a total transaction of $470,600.00. Following the transaction, the senior vice president now directly owns 9,035 shares in the company, valued at $1,807,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 10.50% of the company’s stock.

Veeva Systems Stock Performance

Shares of Veeva Systems stock opened at $217.68 on Thursday. Veeva Systems Inc. has a 1 year low of $162.72 and a 1 year high of $236.90. The company has a market capitalization of $35.25 billion, a P/E ratio of 58.05, a PEG ratio of 2.13 and a beta of 0.81. The company’s fifty day moving average is $210.29 and its two-hundred day moving average is $198.85.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data 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. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. The company had revenue of $676.18 million for the quarter, compared to the consensus estimate of $667.21 million. As a group, equities analysts expect that Veeva Systems Inc. will post 4.21 earnings per share for the current year.

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.