Avitas Wealth Management LLC Has $328,000 Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

by · The Markets Daily

Avitas Wealth Management LLC cut its stake in Veeva Systems Inc. (NYSE:VEEV – Free Report) by 7.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,563 shares of the technology company’s stock after selling 118 shares during the quarter. Avitas Wealth Management LLC’s holdings in Veeva Systems were worth $328,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Patriot Financial Group Insurance Agency LLC increased its stake in shares of Veeva Systems by 0.7% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 6,924 shares of the technology company’s stock worth $1,453,000 after acquiring an additional 48 shares during the last quarter. Clearbridge Investments LLC increased its stake in shares of Veeva Systems by 0.4% in the second quarter. Clearbridge Investments LLC now owns 11,682 shares of the technology company’s stock worth $2,138,000 after acquiring an additional 52 shares during the last quarter. Western Pacific Wealth Management LP increased its stake in shares of Veeva Systems by 23.3% in the first quarter. Western Pacific Wealth Management LP now owns 307 shares of the technology company’s stock worth $71,000 after acquiring an additional 58 shares during the last quarter. Park Place Capital Corp increased its position in Veeva Systems by 11.5% during the third quarter. Park Place Capital Corp now owns 574 shares of the technology company’s stock worth $120,000 after buying an additional 59 shares during the last quarter. Finally, OV Management LLC increased its position in Veeva Systems by 1.0% during the second quarter. OV Management LLC now owns 6,659 shares of the technology company’s stock worth $1,219,000 after buying an additional 63 shares during the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Veeva Systems Stock Up 0.3 %

Shares of VEEV opened at $214.56 on Thursday. The stock has a market cap of $34.74 billion, a price-to-earnings ratio of 57.22, a P/E/G ratio of 2.06 and a beta of 0.81. Veeva Systems Inc. has a 12 month low of $162.72 and a 12 month high of $236.90. The company has a 50-day moving average price of $212.11 and a two-hundred day moving average price of $198.89.

Veeva Systems (NYSE:VEEV – Get Free Report) last announced its quarterly earnings results on Wednesday, August 28th. The technology company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.03. The firm had revenue of $676.18 million during the quarter, compared to analysts’ expectations of $667.21 million. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. Equities research analysts expect that Veeva Systems Inc. will post 4.21 EPS for the current fiscal year.

Analysts Set New Price Targets

VEEV has been the topic of several analyst reports. BTIG Research initiated coverage on shares of Veeva Systems in a research report on Tuesday, July 9th. They set a “buy” rating and a $240.00 target price on the stock. Raymond James increased their target price on shares of Veeva Systems from $230.00 to $235.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Truist Financial increased their target price on shares of Veeva Systems from $197.00 to $207.00 and gave the stock a “hold” rating in a research report on Tuesday, September 3rd. Needham & Company LLC reissued a “buy” rating and set a $260.00 target price on shares of Veeva Systems in a research report on Thursday, August 29th. Finally, JPMorgan Chase & Co. increased their target price on shares of Veeva Systems from $203.00 to $208.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, Veeva Systems has an average rating of “Moderate Buy” and an average target price of $232.87.

Get Our Latest Research Report on Veeva Systems

Insider Transactions at Veeva Systems

In other news, SVP Jonathan Faddis sold 2,353 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $200.00, for a total transaction 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 approximately $1,807,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 10.50% of the company’s stock.

Veeva Systems Company Profile

(Free Report)

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.

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