Leelyn Smith LLC Has $1.58 Million Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Leelyn Smith LLC raised its holdings in Veeva Systems Inc. (NYSE:VEEV) by 8.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,512 shares of the technology company’s stock after purchasing an additional 584 shares during the quarter. Leelyn Smith LLC’s holdings in Veeva Systems were worth $1,577,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of VEEV. Massachusetts Financial Services Co. MA increased its holdings in shares of Veeva Systems by 64.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company’s stock worth $744,084,000 after buying an additional 1,392,256 shares in the last quarter. Principal Financial Group Inc. grew its position in Veeva Systems by 138.9% during the 3rd quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock worth $457,366,000 after acquiring an additional 1,267,061 shares during the last quarter. Swedbank AB acquired a new position in Veeva Systems in the 1st quarter worth about $227,673,000. Jupiter Asset Management Ltd. raised its position in Veeva Systems by 84.0% in the second quarter. Jupiter Asset Management Ltd. now owns 453,933 shares of the technology company’s stock valued at $83,074,000 after purchasing an additional 207,222 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ boosted its stake in shares of Veeva Systems by 545.5% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 195,486 shares of the technology company’s stock valued at $35,776,000 after purchasing an additional 165,203 shares in the last quarter. Institutional investors own 88.20% of the company’s stock.

Insider Buying and Selling

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,126 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was 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 approximately $6,483,390.13. The trade was a 4.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 10.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

VEEV has been the subject of several recent research reports. Raymond James upped their price objective on Veeva Systems from $230.00 to $235.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Needham & Company LLC restated a “buy” rating and issued a $260.00 price target on shares of Veeva Systems in a research report on Friday, November 8th. TD Cowen lifted their price target on shares of Veeva Systems from $180.00 to $192.00 and gave the stock a “hold” rating in a report on Thursday, August 29th. Piper Sandler boosted their price objective on shares of Veeva Systems from $230.00 to $280.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Finally, Bank of America raised their target price on Veeva Systems from $204.00 to $240.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $236.92.

Veeva Systems Trading Up 1.0 %

VEEV opened at $216.59 on Friday. The company has a fifty day moving average price of $214.54 and a two-hundred day moving average price of $201.19. Veeva Systems Inc. has a 1-year low of $165.12 and a 1-year high of $240.68. The company has a market cap of $35.07 billion, a P/E ratio of 57.76, a price-to-earnings-growth ratio of 2.07 and a beta of 0.81.

Veeva Systems (NYSE:VEEV) last issued its 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 during the quarter, compared to analyst estimates of $667.21 million. Veeva Systems had a return on equity of 13.30% and a net margin of 23.91%. On average, research analysts forecast that Veeva Systems Inc. will post 4.21 EPS for the current fiscal 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.