Quest Partners LLC Raises Stake in Veeva Systems Inc. (NYSE:VEEV)

Quest Partners LLC grew its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 4.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,172 shares of the technology company’s stock after purchasing an additional 188 shares during the quarter. Quest Partners LLC’s holdings in Veeva Systems were worth $876,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in VEEV. O Shaughnessy Asset Management LLC boosted its stake in shares of Veeva Systems by 16.8% during the first quarter. O Shaughnessy Asset Management LLC now owns 7,091 shares of the technology company’s stock valued at $1,643,000 after purchasing an additional 1,020 shares during the period. UniSuper Management Pty Ltd boosted its stake in shares of Veeva Systems by 100.0% during the first quarter. UniSuper Management Pty Ltd now owns 2,200 shares of the technology company’s stock valued at $510,000 after purchasing an additional 1,100 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Veeva Systems during the first quarter valued at $1,086,000. CreativeOne Wealth LLC boosted its stake in shares of Veeva Systems by 18.6% during the first quarter. CreativeOne Wealth LLC now owns 1,425 shares of the technology company’s stock valued at $330,000 after purchasing an additional 223 shares during the period. Finally, Advisors Asset Management Inc. purchased a new stake in shares of Veeva Systems during the first quarter valued at $28,000. 88.20% of the stock is owned by hedge funds and other institutional investors.

Veeva Systems Stock Up 0.4 %

VEEV opened at $210.63 on Thursday. Veeva Systems Inc. has a 52-week low of $165.12 and a 52-week high of $240.68. The company has a market cap of $34.11 billion, a P/E ratio of 56.17, a price-to-earnings-growth ratio of 2.06 and a beta of 0.81. The firm’s 50-day moving average price is $214.68 and its 200-day moving average price is $201.00.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings results on Wednesday, August 28th. The technology company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.03. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. The company had revenue of $676.18 million for the quarter, compared to the consensus estimate of $667.21 million. On average, research analysts anticipate that Veeva Systems Inc. will post 4.21 EPS for the current fiscal year.

Insiders Place Their Bets

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,126 shares of the company’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 value of $270,251.26. Following the sale, the insider now owns 27,013 shares in the company, valued at approximately $6,483,390.13. This represents a 4.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 10.50% of the company’s stock.

Wall Street Analysts Forecast Growth

VEEV has been the subject of a number of research reports. TD Cowen upped their price objective on shares of Veeva Systems from $180.00 to $192.00 and gave the stock a “hold” rating in a research note on Thursday, August 29th. Robert W. Baird lowered their price objective on shares of Veeva Systems from $251.00 to $245.00 and set an “outperform” rating for the company in a research note on Monday, October 28th. BNP Paribas initiated coverage on shares of Veeva Systems in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $286.00 price objective for the company. Barclays upped their price objective on shares of Veeva Systems from $240.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Finally, Guggenheim upped their price objective on shares of Veeva Systems from $233.00 to $249.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. 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 company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $236.92.

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.