Hartline Investment Corp Raises Stake in Veeva Systems Inc. (NYSE:VEEV)

Hartline Investment Corp boosted its holdings in Veeva Systems Inc. (NYSE:VEEV) by 6.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,106 shares of the technology company’s stock after purchasing an additional 475 shares during the quarter. Hartline Investment Corp’s holdings in Veeva Systems were worth $1,701,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of Veeva Systems in the 3rd quarter worth about $26,000. Advisors Asset Management Inc. purchased a new position in Veeva Systems in the first quarter worth about $28,000. Blue Trust Inc. raised its holdings in Veeva Systems by 3,460.0% in the second quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock worth $33,000 after buying an additional 173 shares during the last quarter. DT Investment Partners LLC bought a new position in shares of Veeva Systems in the second quarter worth approximately $35,000. Finally, Mather Group LLC. grew its holdings in shares of Veeva Systems by 166.3% during the second quarter. Mather Group LLC. now owns 253 shares of the technology company’s stock valued at $46,000 after buying an additional 158 shares during the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Price Performance

Shares of VEEV stock opened at $236.49 on Wednesday. The company has a market capitalization of $38.29 billion, a price-to-earnings ratio of 63.06, a PEG ratio of 2.29 and a beta of 0.81. The company’s fifty day moving average price is $214.81 and its 200-day moving average price is $200.26. Veeva Systems Inc. has a one year low of $162.85 and a one year high of $240.68.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings results on Wednesday, August 28th. The technology company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.03. The business 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%. Equities research analysts expect that Veeva Systems Inc. will post 4.21 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on VEEV. Robert W. Baird cut their target price on Veeva Systems from $251.00 to $245.00 and set an “outperform” rating on the stock in a research note on Monday, October 28th. TD Cowen lifted their price objective on Veeva Systems from $180.00 to $192.00 and gave the stock a “hold” rating in a report on Thursday, August 29th. Piper Sandler upped their target price on shares of Veeva Systems from $230.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Guggenheim raised their price target on shares of Veeva Systems from $233.00 to $249.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Veeva Systems from $203.00 to $208.00 and gave the company a “neutral” rating in a report on Monday, September 9th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $237.00.

Insider Buying and Selling

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,126 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $240.01, for a total transaction of $270,251.26. Following the completion of the sale, the insider now directly owns 27,013 shares of the company’s stock, valued at $6,483,390.13. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Veeva Systems news, insider Thomas D. Schwenger sold 1,126 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $240.01, for a total transaction of $270,251.26. Following the completion of the transaction, the insider now owns 27,013 shares of the company’s stock, valued at $6,483,390.13. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jonathan Faddis sold 2,353 shares of Veeva Systems stock in a transaction dated 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 directly owns 9,035 shares in the company, valued at $1,807,000. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.50% of the stock is owned by 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.