Smith Group Asset Management LLC Has $16.96 Million Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Smith Group Asset Management LLC increased its holdings in Veeva Systems Inc. (NYSE:VEEV) by 0.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 80,818 shares of the technology company’s stock after acquiring an additional 77 shares during the period. Smith Group Asset Management LLC’s holdings in Veeva Systems were worth $16,961,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in VEEV. Brookstone Capital Management purchased a new position in shares of Veeva Systems during the first quarter valued at approximately $234,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Veeva Systems by 3.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 9,479 shares of the technology company’s stock valued at $2,196,000 after purchasing an additional 293 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Veeva Systems by 1.3% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 402,575 shares of the technology company’s stock valued at $93,273,000 after purchasing an additional 5,352 shares in the last quarter. Valley National Advisers Inc. lifted its position in shares of Veeva Systems by 36.8% during the first quarter. Valley National Advisers Inc. now owns 1,674 shares of the technology company’s stock valued at $387,000 after purchasing an additional 450 shares in the last quarter. Finally, Norden Group LLC purchased a new position in Veeva Systems during the first quarter worth about $304,000. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Performance

Shares of NYSE:VEEV opened at $212.27 on Tuesday. The firm has a fifty day moving average of $211.44 and a 200 day moving average of $198.73. Veeva Systems Inc. has a 52-week low of $162.72 and a 52-week high of $236.90. The firm has a market capitalization of $34.37 billion, a PE ratio of 56.61, a price-to-earnings-growth ratio of 2.06 and a beta of 0.81.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data 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. The firm had revenue of $676.18 million during the quarter, compared to analyst estimates of $667.21 million. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. On average, sell-side analysts forecast that Veeva Systems Inc. will post 4.21 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. JPMorgan Chase & Co. lifted 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. Barclays raised their target price on Veeva Systems from $220.00 to $240.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. UBS Group boosted their price target on shares of Veeva Systems from $185.00 to $215.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. Citigroup lifted their price objective on shares of Veeva Systems from $256.00 to $273.00 and gave the stock a “buy” rating in a research report on Tuesday, August 27th. Finally, Piper Sandler increased their target price on shares of Veeva Systems from $225.00 to $230.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $232.87.

Insider Activity

In other Veeva Systems news, SVP Jonathan Faddis sold 2,353 shares of Veeva Systems stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $200.00, for a total value of $470,600.00. Following the transaction, the senior vice president now directly owns 9,035 shares of the company’s stock, valued at $1,807,000. The trade was a 0.00 % decrease in their position. The sale 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 corporate insiders.

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.