US Bancorp DE Buys 22,755 Shares of Veeva Systems Inc. (NYSE:VEEV)

US Bancorp DE lifted its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 25.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 112,156 shares of the technology company’s stock after purchasing an additional 22,755 shares during the quarter. US Bancorp DE owned 0.07% of Veeva Systems worth $23,538,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Advisors Asset Management Inc. bought a new stake in shares of Veeva Systems during the first quarter valued at about $28,000. Mowery & Schoenfeld Wealth Management LLC bought a new stake in Veeva Systems during the 3rd quarter worth approximately $26,000. Larson Financial Group LLC increased its holdings in Veeva Systems by 1,153.8% during the 1st 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 period. Blue Trust Inc. boosted its holdings in Veeva Systems by 3,460.0% in the 2nd quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock valued at $33,000 after purchasing an additional 173 shares during the period. Finally, DT Investment Partners LLC purchased a new position in shares of Veeva Systems during the 2nd quarter valued at $35,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Price Performance

NYSE VEEV opened at $212.80 on Friday. The business’s 50-day moving average is $212.62 and its 200 day moving average is $199.04. The stock has a market capitalization of $34.46 billion, a PE ratio of 56.75, a PEG ratio of 2.03 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.

Veeva Systems (NYSE:VEEV) last posted its earnings results on Wednesday, August 28th. The technology company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.03. The firm had revenue of $676.18 million for the quarter, compared to analysts’ expectations of $667.21 million. Veeva Systems had a return on equity of 13.30% and a net margin of 23.91%. As a group, equities research analysts anticipate that Veeva Systems Inc. will post 4.21 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Robert W. Baird dropped their price objective on Veeva Systems from $251.00 to $245.00 and set an “outperform” rating for the company in a research note on Monday, October 28th. JPMorgan Chase & Co. boosted their price objective on Veeva Systems from $203.00 to $208.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. BNP Paribas assumed coverage on shares of Veeva Systems in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $286.00 target price on the stock. Raymond James lifted their target price on shares of Veeva Systems from $230.00 to $235.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Finally, UBS Group increased their price target 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. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $232.87.

Insider Transactions at Veeva Systems

In related 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 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 10.50% of the company’s stock.

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.