Nisa Investment Advisors LLC Has $4.06 Million Position in Veeva Systems Inc. (NYSE:VEEV)

Nisa Investment Advisors LLC lessened its stake in Veeva Systems Inc. (NYSE:VEEV) by 2.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 19,324 shares of the technology company’s stock after selling 510 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Veeva Systems were worth $4,056,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Veeva Systems by 3.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 9,479 shares of the technology company’s stock valued at $2,196,000 after buying an additional 293 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Veeva Systems by 1.3% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 402,575 shares of the technology company’s stock valued at $93,273,000 after acquiring an additional 5,352 shares during the last quarter. Norden Group LLC bought a new stake in Veeva Systems in the first quarter worth approximately $304,000. First Trust Direct Indexing L.P. increased its stake in shares of Veeva Systems by 19.0% during the 1st quarter. First Trust Direct Indexing L.P. now owns 1,403 shares of the technology company’s stock worth $325,000 after purchasing an additional 224 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of Veeva Systems by 30.8% during the 1st quarter. BNP Paribas Financial Markets now owns 89,023 shares of the technology company’s stock valued at $20,626,000 after purchasing an additional 20,982 shares in the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on VEEV. Bank of America upped their price objective on shares of Veeva Systems from $204.00 to $240.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Robert W. Baird lowered their price objective on Veeva Systems from $251.00 to $245.00 and set an “outperform” rating on the stock in a report on Monday, October 28th. TD Cowen boosted their target price on Veeva Systems from $180.00 to $192.00 and gave the stock a “hold” rating in a report on Thursday, August 29th. Citigroup increased their price target on Veeva Systems from $256.00 to $273.00 and gave the company a “buy” rating in a report on Tuesday, August 27th. Finally, UBS Group boosted their price objective on shares of Veeva Systems from $185.00 to $215.00 and gave the stock a “neutral” rating in a research note on Monday, August 26th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Veeva Systems presently has an average rating of “Moderate Buy” and an average price target of $232.87.

Veeva Systems Price Performance

VEEV opened at $212.80 on Friday. The company has a market capitalization of $34.46 billion, a P/E ratio of 56.75, a P/E/G ratio of 2.09 and a beta of 0.81. The firm’s fifty day moving average price is $212.62 and its two-hundred day moving average price is $199.04. Veeva Systems Inc. has a fifty-two week low of $162.72 and a fifty-two week 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 for the quarter, beating analysts’ consensus estimates of $1.04 by $0.03. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. The business had revenue of $676.18 million for the quarter, compared to analysts’ expectations of $667.21 million. On average, equities research analysts expect that Veeva Systems Inc. will post 4.21 EPS for the current fiscal year.

Insider Buying and Selling

In other Veeva Systems news, SVP Jonathan Faddis sold 2,353 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $200.00, for a total value of $470,600.00. Following the sale, the senior vice president now directly owns 9,035 shares in the company, valued at $1,807,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 10.50% of the stock is owned by corporate insiders.

Veeva Systems Company 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.