Linscomb Wealth Inc. Has $2.79 Million Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Linscomb Wealth Inc. lifted its position in Veeva Systems Inc. (NYSE:VEEV) by 5.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,046 shares of the technology company’s stock after acquiring an additional 669 shares during the period. Linscomb Wealth Inc.’s holdings in Veeva Systems were worth $2,790,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Sowell Financial Services LLC purchased a new position in Veeva Systems during the 1st quarter valued at about $274,000. Crossmark Global Holdings Inc. acquired a new stake in shares of Veeva Systems during the first quarter worth approximately $299,000. Janney Montgomery Scott LLC purchased a new position in Veeva Systems during the first quarter valued at approximately $5,876,000. GAMMA Investing LLC increased its stake in Veeva Systems by 13.8% in the 1st quarter. GAMMA Investing LLC now owns 1,823 shares of the technology company’s stock valued at $422,000 after buying an additional 221 shares during the period. Finally, Private Trust Co. NA lifted its position in Veeva Systems by 35.0% in the 1st quarter. Private Trust Co. NA now owns 247 shares of the technology company’s stock worth $57,000 after buying an additional 64 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Insiders Place Their Bets

In other news, Director Priscilla Hung sold 171 shares of Veeva Systems stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $284.40, for a total transaction of $48,632.40. Following the sale, the director owned 3,966 shares of the company’s stock, valued at approximately $1,127,930.40. This trade represents a 4.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Timothy S. Cabral sold 315 shares of the business’s stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $289.72, for a total value of $91,261.80. Following the sale, the director owned 5,500 shares in the company, valued at approximately $1,593,460. This represents a 5.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,378 shares of company stock worth $394,217 in the last ninety days. Insiders own 10.30% of the company’s stock.

Analyst Upgrades and Downgrades

VEEV has been the topic of several research analyst reports. Truist Financial boosted their price target on shares of Veeva Systems from $217.00 to $230.00 and gave the company a “hold” rating in a report on Thursday, May 29th. Barclays lifted their price objective on Veeva Systems from $285.00 to $300.00 and gave the company an “overweight” rating in a research report on Thursday, May 29th. Piper Sandler upped their target price on Veeva Systems from $255.00 to $325.00 and gave the stock an “overweight” rating in a research report on Thursday, May 29th. Mizuho lifted their price target on Veeva Systems from $280.00 to $295.00 and gave the company an “outperform” rating in a report on Monday, June 2nd. Finally, UBS Group boosted their price target on Veeva Systems from $250.00 to $285.00 and gave the company a “neutral” rating in a research note on Thursday, May 29th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $274.17.

Veeva Systems Stock Up 1.0%

Shares of NYSE VEEV opened at $282.45 on Monday. Veeva Systems Inc. has a 12 month low of $184.39 and a 12 month high of $296.72. The company has a market cap of $46.16 billion, a P/E ratio of 59.84, a P/E/G ratio of 2.23 and a beta of 0.95. The business’s 50 day moving average is $282.93 and its two-hundred day moving average is $249.32.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Wednesday, May 28th. The technology company reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.23. Veeva Systems had a net margin of 27.34% and a return on equity of 13.96%. The business had revenue of $759.04 million for the quarter, compared to the consensus estimate of $728.38 million. During the same quarter last year, the company posted $1.50 earnings per share. Veeva Systems’s quarterly revenue was up 16.7% on a year-over-year basis. Sell-side analysts expect that Veeva Systems Inc. will post 4.35 earnings per share for the current fiscal year.

Veeva Systems 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.