Linden Thomas Advisory Services LLC Has $1.95 Million Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Linden Thomas Advisory Services LLC increased its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 2.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 10,141 shares of the technology company’s stock after purchasing an additional 201 shares during the period. Linden Thomas Advisory Services LLC’s holdings in Veeva Systems were worth $1,952,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP raised its stake in Veeva Systems by 9.6% during the 3rd quarter. Wellington Management Group LLP now owns 3,315,304 shares of the technology company’s stock worth $674,499,000 after buying an additional 289,133 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Veeva Systems by 34.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,045,414 shares of the technology company’s stock worth $416,139,000 after buying an additional 522,257 shares during the period. FMR LLC raised its stake in Veeva Systems by 15.4% during the 3rd quarter. FMR LLC now owns 1,833,135 shares of the technology company’s stock worth $372,951,000 after buying an additional 244,599 shares during the period. Blair William & Co. IL raised its stake in shares of Veeva Systems by 0.9% in the third quarter. Blair William & Co. IL now owns 1,466,121 shares of the technology company’s stock worth $298,282,000 after purchasing an additional 12,709 shares during the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of Veeva Systems by 4.1% in the third quarter. Van ECK Associates Corp now owns 1,447,403 shares of the technology company’s stock worth $294,474,000 after purchasing an additional 57,520 shares during the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Veeva Systems Price Performance

Shares of NYSE:VEEV traded up $3.07 during trading on Tuesday, hitting $202.13. 527,682 shares of the company were exchanged, compared to its average volume of 975,890. The company has a market cap of $32.61 billion, a PE ratio of 61.85, a P/E/G ratio of 2.00 and a beta of 0.74. The stock has a 50 day moving average of $220.78 and a 200 day moving average of $202.82. Veeva Systems Inc. has a 52-week low of $160.21 and a 52-week high of $236.90.

Veeva Systems (NYSE:VEEV) last posted its earnings results on Thursday, February 29th. The technology company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.11. The firm had revenue of $630.62 million for the quarter, compared to the consensus estimate of $620.75 million. Veeva Systems had a return on equity of 11.26% and a net margin of 22.24%. Sell-side analysts forecast that Veeva Systems Inc. will post 4.11 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Jonathan Faddis sold 3,598 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $207.42, for a total value of $746,297.16. Following the sale, the senior vice president now owns 10,668 shares in the company, valued at $2,212,756.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, SVP Jonathan Faddis sold 3,598 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $207.42, for a total value of $746,297.16. Following the sale, the senior vice president now owns 10,668 shares in the company, valued at $2,212,756.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Timothy S. Cabral sold 15,000 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $226.04, for a total value of $3,390,600.00. Following the completion of the sale, the director now owns 23,391 shares in the company, valued at approximately $5,287,301.64. The disclosure for this sale can be found here. Company insiders own 10.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Truist Financial increased their price objective on Veeva Systems from $187.00 to $203.00 and gave the stock a “hold” rating in a research note on Friday, March 1st. Jefferies Financial Group increased their price objective on Veeva Systems from $225.00 to $270.00 and gave the stock a “buy” rating in a research note on Monday, March 4th. Oppenheimer reissued an “outperform” rating and issued a $225.00 price objective on shares of Veeva Systems in a research note on Thursday, February 22nd. The Goldman Sachs Group increased their price objective on Veeva Systems from $219.00 to $248.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Finally, StockNews.com raised Veeva Systems from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $234.90.

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.