Thrivent Financial for Lutherans Sells 19,143 Shares of Veeva Systems Inc. (NYSE:VEEV)

Thrivent Financial for Lutherans reduced its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 17.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 88,454 shares of the technology company’s stock after selling 19,143 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Veeva Systems were worth $18,564,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in VEEV. General American Investors Co. Inc. bought a new stake in Veeva Systems in the third quarter valued at about $5,133,000. Procyon Advisors LLC acquired a new stake in shares of Veeva Systems in the 3rd quarter valued at approximately $712,000. Envestnet Portfolio Solutions Inc. boosted its stake in Veeva Systems by 44.9% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 29,782 shares of the technology company’s stock worth $5,450,000 after acquiring an additional 9,232 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Veeva Systems by 138.9% during the third quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock valued at $457,366,000 after purchasing an additional 1,267,061 shares during the period. Finally, Oppenheimer Asset Management Inc. increased its stake in Veeva Systems by 3.6% in the third quarter. Oppenheimer Asset Management Inc. now owns 78,000 shares of the technology company’s stock valued at $16,370,000 after purchasing an additional 2,733 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Veeva Systems

In related news, insider Thomas D. Schwenger sold 1,126 shares of Veeva Systems 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 sale, the insider now 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 filing with the SEC, which is accessible through the SEC website. Corporate insiders own 10.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Scotiabank initiated coverage on shares of Veeva Systems in a report on Monday. They issued a “sector perform” rating and a $235.00 price target for the company. Guggenheim boosted their target price on Veeva Systems from $233.00 to $249.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Robert W. Baird dropped their price target on Veeva Systems from $251.00 to $245.00 and set an “outperform” rating on the stock in a research report on Monday, October 28th. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 price objective on shares of Veeva Systems in a research report on Friday, November 8th. Finally, TD Cowen raised their target price 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. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, Veeva Systems has a consensus rating of “Moderate Buy” and an average target price of $236.92.

Veeva Systems Trading Up 0.4 %

NYSE:VEEV opened at $210.63 on Thursday. The stock has a market capitalization of $34.11 billion, a PE ratio of 56.17, a P/E/G ratio of 2.06 and a beta of 0.81. Veeva Systems Inc. has a 1-year low of $165.12 and a 1-year high of $240.68. The firm has a fifty day simple moving average of $214.68 and a 200 day simple moving average of $201.00.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data 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 company had revenue of $676.18 million during the quarter, compared to the consensus estimate of $667.21 million. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. On average, equities analysts predict that Veeva Systems Inc. will post 4.21 earnings per share 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.