Pathstone Holdings LLC Has $2.37 Million Position in Veeva Systems Inc. (NYSE:VEEV)

Pathstone Holdings LLC boosted its stake in Veeva Systems Inc. (NYSE:VEEV) by 15.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,281 shares of the technology company’s stock after acquiring an additional 1,508 shares during the quarter. Pathstone Holdings LLC’s holdings in Veeva Systems were worth $2,368,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of VEEV. Mowery & Schoenfeld Wealth Management LLC acquired a new position in Veeva Systems during the third quarter worth $26,000. Advisors Asset Management Inc. bought a new stake in Veeva Systems in the 1st quarter valued at about $28,000. Blue Trust Inc. grew its position 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 buying an additional 173 shares in the last quarter. DT Investment Partners LLC acquired a new stake in shares of Veeva Systems during the 2nd quarter worth $35,000. Finally, Mather Group LLC. grew its stake in Veeva Systems by 166.3% during the second quarter. Mather Group LLC. now owns 253 shares of the technology company’s stock worth $46,000 after buying an additional 158 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,126 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $6,483,390.13. This trade represents a 4.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 10.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on VEEV shares. Barclays lifted their price target on Veeva Systems from $240.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Needham & Company LLC restated a “buy” rating and set a $260.00 price objective on shares of Veeva Systems in a research report on Friday, November 8th. TD Cowen boosted their target price on shares of Veeva Systems from $180.00 to $192.00 and gave the company a “hold” rating in a report on Thursday, August 29th. Raymond James increased their price target on Veeva Systems from $230.00 to $235.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Finally, 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. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $236.92.

Veeva Systems Price Performance

Shares of Veeva Systems stock opened at $226.95 on Tuesday. The firm has a market cap of $36.75 billion, a PE ratio of 60.52, a P/E/G ratio of 2.09 and a beta of 0.81. The stock has a fifty day moving average price of $214.74 and a 200-day moving average price of $201.32. Veeva Systems Inc. has a 1 year low of $165.12 and a 1 year high of $240.68.

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

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.