Daiwa Securities Group Inc. Has $3.78 Million Holdings in Veeva Systems Inc. (NYSE:VEEV)

Daiwa Securities Group Inc. grew its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 69.8% during the third quarter, Holdings Channel.com reports. The fund owned 18,006 shares of the technology company’s stock after purchasing an additional 7,400 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Veeva Systems were worth $3,779,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Centaurus Financial Inc. grew its position in shares of Veeva Systems by 28.1% in the third quarter. Centaurus Financial Inc. now owns 1,335 shares of the technology company’s stock valued at $280,000 after purchasing an additional 293 shares in the last quarter. Larson Financial Group LLC grew its position in Veeva Systems by 70.5% during the third quarter. Larson Financial Group LLC now owns 1,604 shares of the technology company’s stock valued at $337,000 after acquiring an additional 663 shares during the last quarter. Algert Global LLC boosted its position in Veeva Systems by 64.0% during the third quarter. Algert Global LLC now owns 2,254 shares of the technology company’s stock valued at $473,000 after buying an additional 880 shares during the period. Leelyn Smith LLC increased its stake in Veeva Systems by 8.4% in the 3rd quarter. Leelyn Smith LLC now owns 7,512 shares of the technology company’s stock worth $1,577,000 after purchasing an additional 584 shares during the period. Finally, Allen Capital Group LLC raised its holdings in Veeva Systems by 9.5% during the 3rd quarter. Allen Capital Group LLC now owns 11,043 shares of the technology company’s stock valued at $2,318,000 after buying an additional 958 shares during the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on VEEV. JPMorgan Chase & Co. upped their target price on Veeva Systems from $203.00 to $208.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. Raymond James increased their target price on Veeva Systems from $230.00 to $235.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Truist Financial boosted their price objective on shares of Veeva Systems from $197.00 to $207.00 and gave the company a “hold” rating in a report on Tuesday, September 3rd. Scotiabank started coverage on Veeva Systems in a research report on Monday, November 18th. They issued a “sector perform” rating and a $235.00 target price on the stock. Finally, Bank of America lifted their price target on shares of Veeva Systems from $204.00 to $240.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $236.92.

Insider Activity at Veeva Systems

In related news, insider Thomas D. Schwenger sold 1,126 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $240.01, for a total transaction of $270,251.26. Following the completion of the sale, the insider now directly owns 27,013 shares of the company’s stock, valued at $6,483,390.13. This trade represents a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 10.50% of the stock is owned by insiders.

Veeva Systems Stock Down 0.0 %

NYSE VEEV opened at $226.88 on Wednesday. The stock has a market capitalization of $36.74 billion, a PE ratio of 60.50, a price-to-earnings-growth ratio of 2.09 and a beta of 0.81. The firm has a 50 day moving average of $214.98 and a two-hundred day moving average of $201.48. Veeva Systems Inc. has a 52 week low of $165.12 and a 52 week high of $240.68.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Wednesday, August 28th. The technology company reported $1.07 earnings per share 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 during the quarter, compared to the consensus estimate of $667.21 million. On average, equities research analysts expect that Veeva Systems Inc. will post 4.21 earnings per share 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.