Simmons Bank Invests $952,000 in Veeva Systems Inc. (NYSE:VEEV)

Simmons Bank acquired a new stake in Veeva Systems Inc. (NYSE:VEEV) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 4,537 shares of the technology company’s stock, valued at approximately $952,000.

Several other large investors have also bought and sold shares of the business. Patriot Financial Group Insurance Agency LLC increased its holdings in shares of Veeva Systems by 0.7% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 6,924 shares of the technology company’s stock worth $1,453,000 after buying an additional 48 shares in the last quarter. Clearbridge Investments LLC increased its holdings in Veeva Systems by 0.4% in the 2nd quarter. Clearbridge Investments LLC now owns 11,682 shares of the technology company’s stock worth $2,138,000 after purchasing an additional 52 shares in the last quarter. Western Pacific Wealth Management LP raised its position in Veeva Systems by 23.3% in the first quarter. Western Pacific Wealth Management LP now owns 307 shares of the technology company’s stock valued at $71,000 after purchasing an additional 58 shares during the last quarter. Park Place Capital Corp boosted its stake in shares of Veeva Systems by 11.5% during the third quarter. Park Place Capital Corp now owns 574 shares of the technology company’s stock valued at $120,000 after purchasing an additional 59 shares in the last quarter. Finally, Quintet Private Bank Europe S.A. boosted its stake in shares of Veeva Systems by 13.4% during the third quarter. Quintet Private Bank Europe S.A. now owns 516 shares of the technology company’s stock valued at $108,000 after purchasing an additional 61 shares in the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

VEEV has been the subject of a number of research reports. Piper Sandler raised their price objective on shares of Veeva Systems from $230.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, November 8th. BNP Paribas began coverage on shares of Veeva Systems in a report on Tuesday, October 8th. They set an “outperform” rating and a $286.00 price target on the stock. Royal Bank of Canada boosted their price objective on shares of Veeva Systems from $250.00 to $275.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Bank of America raised their target price on Veeva Systems from $204.00 to $240.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 target price on shares of Veeva Systems in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $237.00.

Veeva Systems Price Performance

VEEV stock opened at $233.37 on Thursday. The company’s 50-day moving average is $214.81 and its 200-day moving average is $200.26. The stock has a market capitalization of $37.79 billion, a PE ratio of 62.23, a price-to-earnings-growth ratio of 2.28 and a beta of 0.81. Veeva Systems Inc. has a 1 year low of $165.12 and a 1 year high of $240.68.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings results on Wednesday, August 28th. The technology company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.03. Veeva Systems had a return on equity of 13.30% and a net margin of 23.91%. The business had revenue of $676.18 million for the quarter, compared to analyst estimates of $667.21 million. On average, analysts anticipate that Veeva Systems Inc. will post 4.21 earnings per share for the current fiscal year.

Insider Activity at Veeva Systems

In other news, insider Thomas D. Schwenger sold 1,126 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Veeva Systems news, insider Thomas D. Schwenger sold 1,126 shares of Veeva Systems stock in a transaction on Friday, November 8th. The shares were sold at an average price of $240.01, for a total transaction of $270,251.26. Following the transaction, the insider now directly owns 27,013 shares of the company’s stock, valued at $6,483,390.13. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jonathan Faddis sold 2,353 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $200.00, for a total transaction of $470,600.00. Following the completion of the sale, the senior vice president now owns 9,035 shares of the company’s stock, valued at approximately $1,807,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 10.50% of the stock is currently owned by 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.