Diversified Trust Co Buys 635 Shares of Veeva Systems Inc. (NYSE:VEEV)

Diversified Trust Co boosted its stake in Veeva Systems Inc. (NYSE:VEEV) by 4.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,845 shares of the technology company’s stock after purchasing an additional 635 shares during the period. Diversified Trust Co’s holdings in Veeva Systems were worth $2,534,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Advisors Asset Management Inc. bought a new stake in Veeva Systems in the first quarter valued at $28,000. DSM Capital Partners LLC bought a new stake in Veeva Systems in the 4th quarter valued at about $29,000. First Financial Corp IN acquired a new position in Veeva Systems during the 1st quarter worth approximately $35,000. Larson Financial Group LLC boosted its holdings in Veeva Systems by 1,153.8% in the first quarter. Larson Financial Group LLC now owns 163 shares of the technology company’s stock worth $38,000 after acquiring an additional 150 shares in the last quarter. Finally, Vermillion & White Wealth Management Group LLC acquired a new stake in Veeva Systems in the fourth quarter valued at approximately $32,000. 88.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on VEEV. Piper Sandler lowered their price objective on Veeva Systems from $235.00 to $225.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Truist Financial cut their price target on shares of Veeva Systems from $203.00 to $197.00 and set a “hold” rating on the stock in a report on Friday, June 14th. 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. Stifel Nicolaus decreased their price target on Veeva Systems from $250.00 to $210.00 and set a “buy” rating for the company in a research report on Friday, May 31st. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 price objective on shares of Veeva Systems in a research report on Friday, June 21st. One research analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, Veeva Systems presently has an average rating of “Moderate Buy” and an average price target of $228.27.

Insider Buying and Selling

In other news, CFO Timothy S. Cabral sold 15,000 shares of the company’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $184.33, for a total value of $2,764,950.00. Following the completion of the sale, the chief financial officer now directly owns 8,391 shares in the company, valued at approximately $1,546,713.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 10.50% of the stock is currently owned by insiders.

Veeva Systems Stock Up 0.1 %

Shares of Veeva Systems stock traded up $0.25 on Wednesday, reaching $190.57. The company’s stock had a trading volume of 20,671 shares, compared to its average volume of 964,127. The company has a market capitalization of $30.81 billion, a price-to-earnings ratio of 56.13, a P/E/G ratio of 1.83 and a beta of 0.80. Veeva Systems Inc. has a 52 week low of $162.72 and a 52 week high of $236.90. The firm’s fifty day simple moving average is $185.07 and its two-hundred day simple moving average is $203.07.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings results on Thursday, May 30th. The technology company reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.10. Veeva Systems had a net margin of 22.34% and a return on equity of 12.74%. The firm had revenue of $650.35 million during the quarter, compared to analyst estimates of $641.73 million. As a group, research analysts predict that Veeva Systems Inc. will post 4.19 EPS for the current 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.