Kingsview Wealth Management LLC Has $2.22 Million Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Kingsview Wealth Management LLC lowered its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 1.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,599 shares of the technology company’s stock after selling 151 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Veeva Systems were worth $2,224,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. General American Investors Co. Inc. acquired a new position in shares of Veeva Systems in the 3rd quarter valued at $5,133,000. Procyon Advisors LLC acquired a new position in Veeva Systems in the third quarter valued at about $712,000. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Veeva Systems by 44.9% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 29,782 shares of the technology company’s stock worth $5,450,000 after acquiring an additional 9,232 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Veeva Systems by 138.9% during the third quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock worth $457,366,000 after purchasing an additional 1,267,061 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its holdings in shares of Veeva Systems by 3.6% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 78,000 shares of the technology company’s stock valued at $16,370,000 after purchasing an additional 2,733 shares in the last quarter. Institutional investors own 88.20% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Citigroup raised their target price on shares of Veeva Systems from $256.00 to $273.00 and gave the stock a “buy” rating in a report on Tuesday, August 27th. Bank of America boosted their price objective on shares of Veeva Systems from $204.00 to $240.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. BNP Paribas assumed coverage on Veeva Systems in a report on Tuesday, October 8th. They set an “outperform” rating and a $286.00 target price for the company. Robert W. Baird cut their price target on Veeva Systems from $251.00 to $245.00 and set an “outperform” rating on the stock in a report on Monday, October 28th. Finally, Guggenheim increased their price objective on Veeva Systems from $233.00 to $249.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $236.92.

Veeva Systems Stock Performance

NYSE VEEV opened at $226.95 on Tuesday. The stock 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 firm has a 50-day moving average of $214.74 and a 200-day moving average of $201.32. 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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.03. The company had revenue of $676.18 million during the quarter, compared to analysts’ expectations of $667.21 million. Veeva Systems had a return on equity of 13.30% and a net margin of 23.91%. As a group, analysts predict that Veeva Systems Inc. will post 4.21 EPS for the current fiscal year.

Insider Transactions at Veeva Systems

In other news, insider Thomas D. Schwenger sold 1,126 shares of Veeva Systems stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $240.01, for a total value of $270,251.26. Following the completion of the sale, the insider now directly owns 27,013 shares in the company, valued at approximately $6,483,390.13. The trade was a 4.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 10.50% of the company’s stock.

About Veeva Systems

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.