Veeva Systems Inc. (NYSE:VEEV) Shares Bought by QRG Capital Management Inc.

QRG Capital Management Inc. boosted its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 7.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,987 shares of the technology company’s stock after buying an additional 664 shares during the period. QRG Capital Management Inc.’s holdings in Veeva Systems were worth $2,096,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of Veeva Systems in the third quarter valued at approximately $26,000. Advisors Asset Management Inc. acquired a new position in shares of Veeva Systems in the first quarter valued at approximately $28,000. Blue Trust Inc. increased its holdings in shares of Veeva Systems by 3,460.0% in the second quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock valued at $33,000 after purchasing an additional 173 shares during the period. DT Investment Partners LLC acquired a new position in shares of Veeva Systems in the second quarter valued at approximately $35,000. Finally, Larson Financial Group LLC increased its holdings in shares of Veeva Systems by 1,153.8% in the first quarter. Larson Financial Group LLC now owns 163 shares of the technology company’s stock valued at $38,000 after purchasing an additional 150 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Trading Up 3.2 %

Veeva Systems stock opened at $223.39 on Friday. The firm has a market capitalization of $36.17 billion, a P/E ratio of 59.57, a PEG ratio of 2.07 and a beta of 0.81. The stock has a fifty day moving average price of $213.48 and a 200 day moving average price of $199.34. Veeva Systems Inc. has a 52 week low of $162.72 and a 52 week high of $236.90.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings results on Wednesday, August 28th. The technology company reported $1.07 EPS for the quarter, topping the consensus estimate of $1.04 by $0.03. The company 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%. As a group, equities analysts predict that Veeva Systems Inc. will post 4.21 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on VEEV shares. JPMorgan Chase & Co. boosted their target price on Veeva Systems from $203.00 to $208.00 and gave the company a “neutral” rating in a report on Monday, September 9th. StockNews.com downgraded Veeva Systems from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Guggenheim lifted their price target on Veeva Systems from $233.00 to $249.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Citigroup lifted their price target on Veeva Systems from $256.00 to $273.00 and gave the company a “buy” rating in a research note on Tuesday, August 27th. Finally, BNP Paribas assumed coverage on Veeva Systems in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $286.00 price target on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Veeva Systems has an average rating of “Moderate Buy” and an average price target of $232.87.

Insider Transactions at Veeva Systems

In other news, SVP Jonathan Faddis sold 2,353 shares of the company’s 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 owns 9,035 shares of the company’s stock, valued at $1,807,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 10.50% of the company’s stock.

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.