MFA Wealth Advisors LLC Has $664,000 Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

MFA Wealth Advisors LLC raised its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 9.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,865 shares of the technology company’s stock after buying an additional 258 shares during the period. MFA Wealth Advisors LLC’s holdings in Veeva Systems were worth $664,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Centricity Wealth Management LLC bought a new position in shares of Veeva Systems during the 4th quarter valued at $25,000. Smithfield Trust Co increased its position in Veeva Systems by 145.5% during the fourth quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock worth $27,000 after buying an additional 80 shares during the last quarter. Venturi Wealth Management LLC raised its holdings in Veeva Systems by 2,716.7% during the fourth quarter. Venturi Wealth Management LLC now owns 169 shares of the technology company’s stock valued at $36,000 after buying an additional 163 shares in the last quarter. Promus Capital LLC bought a new position in shares of Veeva Systems in the 4th quarter valued at approximately $36,000. Finally, Itau Unibanco Holding S.A. raised its position in shares of Veeva Systems by 389.2% in the fourth quarter. Itau Unibanco Holding S.A. now owns 181 shares of the technology company’s stock valued at $38,000 after purchasing an additional 144 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Stock Down 1.1%

NYSE VEEV opened at $281.38 on Wednesday. Veeva Systems Inc. has a twelve month low of $176.41 and a twelve month high of $291.69. The stock has a market cap of $45.98 billion, a P/E ratio of 59.61, a PEG ratio of 2.23 and a beta of 0.99. The company’s 50-day simple moving average is $245.04 and its 200 day simple moving average is $233.12.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Wednesday, May 28th. The technology company reported $1.97 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.23. Veeva Systems had a return on equity of 13.96% and a net margin of 27.34%. The company had revenue of $759.04 million for the quarter, compared to the consensus estimate of $728.38 million. During the same period in the previous year, the business earned $1.50 earnings per share. The company’s quarterly revenue was up 16.7% on a year-over-year basis. Research analysts anticipate that Veeva Systems Inc. will post 4.35 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Wells Fargo & Company raised their target price on shares of Veeva Systems from $285.00 to $300.00 and gave the company an “overweight” rating in a research note on Thursday, May 29th. Scotiabank lifted their price objective on Veeva Systems from $240.00 to $245.00 and gave the stock a “sector perform” rating in a research note on Thursday, March 6th. Barclays increased their target price on Veeva Systems from $285.00 to $300.00 and gave the company an “overweight” rating in a research note on Thursday, May 29th. Needham & Company LLC lifted their price target on Veeva Systems from $270.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, May 29th. Finally, JPMorgan Chase & Co. upped their price target on Veeva Systems from $218.00 to $249.00 and gave the stock a “neutral” rating in a report on Thursday, March 20th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $269.80.

Insiders Place Their Bets

In other news, SVP Jonathan Faddis sold 787 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $226.20, for a total transaction of $178,019.40. Following the completion of the sale, the senior vice president now owns 8,668 shares of the company’s stock, valued at approximately $1,960,701.60. This trade represents a 8.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Timothy S. Cabral sold 3,882 shares of Veeva Systems stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $216.83, for a total transaction of $841,734.06. Following the completion of the transaction, the director now owns 5,500 shares of the company’s stock, valued at $1,192,565. This trade represents a 41.38% decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,184 shares of company stock worth $1,376,179 over the last three months. 10.30% of the stock is currently owned by corporate insiders.

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.