Creative Planning Buys 227 Shares of Veeva Systems Inc. (NYSE:VEEV)

Creative Planning increased its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 0.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,901 shares of the technology company’s stock after buying an additional 227 shares during the quarter. Creative Planning’s holdings in Veeva Systems were worth $10,922,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Vanguard Group Inc. grew its stake in Veeva Systems by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 12,544,865 shares of the technology company’s stock valued at $3,900,825,000 after purchasing an additional 52,479 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Veeva Systems by 9.5% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 11,341,548 shares of the technology company’s stock valued at $3,526,654,000 after purchasing an additional 983,136 shares during the period. Artisan Partners Limited Partnership lifted its position in shares of Veeva Systems by 4.2% during the 2nd quarter. Artisan Partners Limited Partnership now owns 6,609,878 shares of the technology company’s stock valued at $2,055,342,000 after buying an additional 265,091 shares during the last quarter. State Street Corp lifted its position in shares of Veeva Systems by 9.5% during the 2nd quarter. State Street Corp now owns 2,992,119 shares of the technology company’s stock valued at $930,399,000 after buying an additional 258,882 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Veeva Systems by 18.6% during the 2nd quarter. Geode Capital Management LLC now owns 1,928,524 shares of the technology company’s stock valued at $598,880,000 after buying an additional 301,868 shares during the last quarter. Hedge funds and other institutional investors own 78.19% of the company’s stock.

A number of brokerages have recently commented on VEEV. SVB Leerink raised Veeva Systems from a “market perform” rating to an “outperform” rating and set a $282.00 price target on the stock in a research report on Thursday, January 6th. Piper Sandler dropped their price target on Veeva Systems from $360.00 to $300.00 in a research report on Monday, January 10th. Stifel Nicolaus assumed coverage on Veeva Systems in a report on Friday, October 1st. They set a “buy” rating and a $335.00 price objective on the stock. Needham & Company LLC dropped their price objective on Veeva Systems from $385.00 to $327.00 and set a “buy” rating on the stock in a report on Thursday, December 2nd. Finally, Stephens cut Veeva Systems from an “overweight” rating to an “equal weight” rating and set a $275.00 price objective on the stock. in a report on Friday, January 7th. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $328.32.

In related news, SVP Jonathan Faddis sold 1,667 shares of the firm’s stock in a transaction that occurred on Monday, October 18th. The stock was sold at an average price of $308.29, for a total transaction of $513,919.43. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Matthew J. Wallach sold 5,000 shares of Veeva Systems stock in a transaction that occurred on Friday, November 12th. The stock was sold at an average price of $316.25, for a total value of $1,581,250.00. The disclosure for this sale can be found here. Insiders have sold a total of 33,805 shares of company stock worth $9,493,499 over the last quarter. Corporate insiders own 13.18% of the company’s stock.

Shares of Veeva Systems stock opened at $223.85 on Friday. The firm has a market capitalization of $34.42 billion, a PE ratio of 83.84, a price-to-earnings-growth ratio of 6.03 and a beta of 0.75. The business’s 50-day moving average price is $271.83 and its 200-day moving average price is $299.51. Veeva Systems Inc. has a 12 month low of $221.48 and a 12 month high of $343.96.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Wednesday, December 1st. The technology company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.88 by $0.09. Veeva Systems had a return on equity of 16.16% and a net margin of 24.59%. During the same quarter last year, the firm posted $0.54 EPS. On average, analysts expect that Veeva Systems Inc. will post 2.56 EPS for the current year.

Veeva Systems Company Profile

Veeva Systems, Inc engages in the provision of industry cloud solutions for the global life sciences industry. Its solutions enable pharmaceutical and other life sciences companies to realize the benefits of modern cloud-based architectures and mobile applications for their most critical business functions, without compromising industry-specific functionality or regulatory compliance.

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Institutional Ownership by Quarter for Veeva Systems (NYSE:VEEV)

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