PNC Financial Services Group Inc. Has $6.34 Million Holdings in Veeva Systems Inc. (NYSE:VEEV)

PNC Financial Services Group Inc. boosted its position in Veeva Systems Inc. (NYSE:VEEV) by 5.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 30,188 shares of the technology company’s stock after purchasing an additional 1,553 shares during the period. PNC Financial Services Group Inc.’s holdings in Veeva Systems were worth $6,336,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Advisors Asset Management Inc. bought a new position in shares of Veeva Systems during the 1st quarter worth approximately $28,000. Mowery & Schoenfeld Wealth Management LLC bought a new position in Veeva Systems during the third quarter worth $26,000. Blue Trust Inc. boosted its stake in Veeva Systems by 3,460.0% during the second quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock worth $33,000 after acquiring an additional 173 shares in the last quarter. DT Investment Partners LLC acquired a new stake in Veeva Systems in the second quarter worth $35,000. Finally, Fairscale Capital LLC bought a new stake in Veeva Systems in the second quarter valued at $46,000. Institutional investors own 88.20% of the company’s stock.

Insider Activity at Veeva Systems

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,126 shares of the business’s stock in a transaction 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 directly owns 27,013 shares in the company, valued at $6,483,390.13. The trade was a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 10.50% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on VEEV. Bank of America increased their price objective on shares of Veeva Systems from $204.00 to $240.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Raymond James raised their price objective on Veeva Systems from $230.00 to $235.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Guggenheim upped their target price on Veeva Systems from $233.00 to $249.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Truist Financial lifted their price target on shares of Veeva Systems from $197.00 to $207.00 and gave the company a “hold” rating in a research report on Tuesday, September 3rd. Finally, Robert W. Baird lowered their price objective on shares of Veeva Systems from $251.00 to $245.00 and set an “outperform” rating on the stock in a report on Monday, October 28th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $236.92.

Veeva Systems Price Performance

NYSE VEEV opened at $216.58 on Friday. The business’s fifty day moving average is $214.54 and its 200-day moving average is $201.16. The stock has a market capitalization of $35.07 billion, a price-to-earnings ratio of 57.75, a PEG ratio of 2.07 and a beta of 0.81. Veeva Systems Inc. has a one year low of $165.12 and a one year high of $240.68.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Wednesday, August 28th. The technology company reported $1.07 EPS 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 business had revenue of $676.18 million for the quarter, compared to analyst estimates of $667.21 million. Research analysts expect that Veeva Systems Inc. will post 4.21 EPS 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.