Strategic Wealth Advisors Group LLC Buys Shares of 11,204 Veeva Systems Inc (NYSE:VEEV)

Strategic Wealth Advisors Group LLC acquired a new position in shares of Veeva Systems Inc (NYSE:VEEV) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 11,204 shares of the technology company’s stock, valued at approximately $1,716,000.

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Several other large investors have also added to or reduced their stakes in the company. World Asset Management Inc boosted its position in shares of Veeva Systems by 1.5% in the 2nd quarter. World Asset Management Inc now owns 4,192 shares of the technology company’s stock valued at $680,000 after purchasing an additional 63 shares during the period. Hanson McClain Inc. boosted its position in shares of Veeva Systems by 31.3% in the 2nd quarter. Hanson McClain Inc. now owns 294 shares of the technology company’s stock valued at $48,000 after purchasing an additional 70 shares during the period. Cornerstone Advisors Inc. boosted its position in shares of Veeva Systems by 17.6% in the 2nd quarter. Cornerstone Advisors Inc. now owns 500 shares of the technology company’s stock valued at $81,000 after purchasing an additional 75 shares during the period. Eaton Vance Management boosted its position in shares of Veeva Systems by 0.3% in the 2nd quarter. Eaton Vance Management now owns 28,277 shares of the technology company’s stock valued at $4,584,000 after purchasing an additional 90 shares during the period. Finally, Allworth Financial LP boosted its position in shares of Veeva Systems by 31.3% in the 3rd quarter. Allworth Financial LP now owns 386 shares of the technology company’s stock valued at $59,000 after purchasing an additional 92 shares during the period. 76.77% of the stock is owned by institutional investors and hedge funds.

In other news, EVP Alan Mateo sold 4,026 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $159.68, for a total transaction of $642,871.68. Following the sale, the executive vice president now owns 18,718 shares in the company, valued at $2,988,890.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Timothy S. Cabral sold 15,000 shares of Veeva Systems stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $167.57, for a total value of $2,513,550.00. Following the completion of the transaction, the chief financial officer now owns 586 shares in the company, valued at approximately $98,196.02. The disclosure for this sale can be found here. In the last quarter, insiders have sold 75,506 shares of company stock worth $11,755,615. 14.38% of the stock is owned by insiders.

A number of analysts have weighed in on the company. DA Davidson increased their price objective on Veeva Systems from $165.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Morgan Stanley decreased their price objective on Veeva Systems from $154.00 to $150.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd. Canaccord Genuity increased their price objective on Veeva Systems from $135.00 to $155.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Stephens increased their target price on Veeva Systems from $155.00 to $185.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 28th. Finally, Guggenheim increased their target price on Veeva Systems from $154.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $168.11.

NYSE VEEV traded up $4.23 during mid-day trading on Friday, hitting $152.92. The stock had a trading volume of 1,098,709 shares, compared to its average volume of 1,181,960. Veeva Systems Inc has a 52-week low of $79.26 and a 52-week high of $176.90. The company has a market cap of $21.71 billion, a price-to-earnings ratio of 123.32, a P/E/G ratio of 4.77 and a beta of 1.26. The company has a 50 day simple moving average of $147.80 and a 200 day simple moving average of $154.66. The company has a quick ratio of 4.23, a current ratio of 4.23 and a debt-to-equity ratio of 0.01.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Tuesday, August 27th. The technology company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.03. The firm had revenue of $266.90 million during the quarter, compared to the consensus estimate of $259.35 million. Veeva Systems had a return on equity of 18.10% and a net margin of 29.72%. Veeva Systems’s quarterly revenue was up 27.3% on a year-over-year basis. During the same period last year, the business posted $0.39 EPS. As a group, equities analysts anticipate that Veeva Systems Inc will post 1.62 earnings per share for the current fiscal year.

Veeva Systems Profile

Veeva Systems Inc provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, and internationally. The company offers Veeva Commercial Cloud, a suite of multichannel customer relationship management applications, data solutions, and master data management solutions; and Veeva Vault, a cloud-based enterprise content and data management applications for managing commercial functions, including medical, sales, and marketing, as well as research and development functions, such as clinical, regulatory, quality, and safety.

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Institutional Ownership by Quarter for Veeva Systems (NYSE:VEEV)

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