Veeva Systems Inc. (NYSE:VEEV) Shares Acquired by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC lifted its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 703.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,594 shares of the technology company’s stock after purchasing an additional 13,654 shares during the period. Sequoia Financial Advisors LLC’s holdings in Veeva Systems were worth $3,002,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in VEEV. MetLife Investment Management LLC acquired a new position in shares of Veeva Systems during the first quarter worth $1,906,000. Dimensional Fund Advisors LP lifted its position in shares of Veeva Systems by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 190,289 shares of the technology company’s stock worth $40,430,000 after purchasing an additional 3,286 shares in the last quarter. National Pension Service lifted its position in shares of Veeva Systems by 3.0% during the first quarter. National Pension Service now owns 195,170 shares of the technology company’s stock worth $41,466,000 after purchasing an additional 5,607 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Veeva Systems by 1.0% during the first quarter. Vanguard Group Inc. now owns 12,888,204 shares of the technology company’s stock worth $2,738,229,000 after purchasing an additional 132,560 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. lifted its position in shares of Veeva Systems by 9.7% during the first quarter. Candriam Luxembourg S.C.A. now owns 25,014 shares of the technology company’s stock worth $5,314,000 after purchasing an additional 2,206 shares in the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Piper Sandler lifted their price target on shares of Veeva Systems from $220.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st. Stifel Nicolaus lifted their price target on shares of Veeva Systems from $205.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Raymond James restated an “outperform” rating and issued a $260.00 price target on shares of Veeva Systems in a research note on Tuesday, March 26th. KeyCorp lifted their price target on shares of Veeva Systems from $232.00 to $250.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Veeva Systems from $183.00 to $222.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 13th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $234.90.

Insider Transactions at Veeva Systems

In other news, Director Timothy S. Cabral sold 15,000 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $226.04, for a total transaction of $3,390,600.00. Following the completion of the transaction, the director now owns 23,391 shares in the company, valued at $5,287,301.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Timothy S. Cabral sold 15,000 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $226.04, for a total transaction of $3,390,600.00. Following the completion of the transaction, the director now owns 23,391 shares in the company, valued at $5,287,301.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Alan Mateo sold 910 shares of the company’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $204.72, for a total transaction of $186,295.20. Following the transaction, the executive vice president now owns 21,983 shares of the company’s stock, valued at approximately $4,500,359.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,148 shares of company stock worth $3,836,900. Insiders own 10.98% of the company’s stock.

Veeva Systems Stock Performance

Veeva Systems stock opened at $211.19 on Friday. The company has a 50-day simple moving average of $222.40 and a 200-day simple moving average of $202.85. The firm has a market capitalization of $34.07 billion, a P/E ratio of 65.59, a P/E/G ratio of 2.13 and a beta of 0.74. Veeva Systems Inc. has a one year low of $160.21 and a one year high of $236.90.

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

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.