Assetmark Inc. Has $10.12 Million Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Assetmark Inc. increased its holdings in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 46.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,205 shares of the technology company's stock after buying an additional 15,289 shares during the quarter. Assetmark Inc.'s holdings in Veeva Systems were worth $10,117,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in VEEV. Verdence Capital Advisors LLC boosted its stake in Veeva Systems by 4.8% during the 3rd quarter. Verdence Capital Advisors LLC now owns 5,065 shares of the technology company's stock valued at $1,063,000 after purchasing an additional 230 shares in the last quarter. Washington Trust Advisors Inc. boosted its stake in Veeva Systems by 1.1% during the 3rd quarter. Washington Trust Advisors Inc. now owns 46,530 shares of the technology company's stock valued at $9,765,000 after purchasing an additional 499 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc boosted its stake in Veeva Systems by 0.7% during the 3rd quarter. AEGON ASSET MANAGEMENT UK Plc now owns 106,921 shares of the technology company's stock valued at $22,434,000 after purchasing an additional 722 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Veeva Systems during the 3rd quarter valued at $102,000. Finally, Physicians Financial Services Inc. acquired a new stake in shares of Veeva Systems during the 3rd quarter valued at $374,000. 88.20% of the stock is owned by institutional investors.

Insider Activity at Veeva Systems

In related news, SVP Jonathan Faddis sold 2,353 shares of the company's stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $200.00, for a total value of $470,600.00. Following the completion of the sale, the senior vice president now owns 9,035 shares in the company, valued at $1,807,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 10.50% of the stock is owned by corporate insiders.

Veeva Systems Stock Performance

VEEV traded up $1.87 during trading on Monday, reaching $236.87. 1,301,325 shares of the company's stock were exchanged, compared to its average volume of 945,264. The company's fifty day moving average price is $213.98 and its 200-day moving average price is $199.74. Veeva Systems Inc. has a fifty-two week low of $162.85 and a fifty-two week high of $240.68. The firm has a market capitalization of $38.36 billion, a PE ratio of 62.67, a P/E/G ratio of 2.29 and a beta of 0.81.

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

Analysts Set New Price Targets

VEEV has been the subject of a number of recent research reports. Robert W. Baird cut their price objective on Veeva Systems from $251.00 to $245.00 and set an "outperform" rating for the company in a research report on Monday, October 28th. UBS Group increased their target price on Veeva Systems from $185.00 to $215.00 and gave the company a "neutral" rating in a report on Monday, August 26th. StockNews.com upgraded Veeva Systems from a "hold" rating to a "buy" rating in a report on Saturday. Raymond James increased their price objective on Veeva Systems from $230.00 to $235.00 and gave the stock an "outperform" rating in a report on Thursday, August 29th. Finally, JPMorgan Chase & Co. increased their price objective on Veeva Systems from $203.00 to $208.00 and gave the stock a "neutral" rating in a report on Monday, September 9th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Veeva Systems has a consensus rating of "Moderate Buy" and an average target price of $237.00.

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.