Cerity Partners LLC Buys 16,730 Shares of Veeva Systems Inc. (NYSE:VEEV)

Cerity Partners LLC grew its stake in Veeva Systems Inc. (NYSE:VEEV) by 26.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 79,754 shares of the technology company’s stock after purchasing an additional 16,730 shares during the period. Cerity Partners LLC’s holdings in Veeva Systems were worth $15,354,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Blossom Wealth Management grew its stake in shares of Veeva Systems by 44.4% in the 4th quarter. Blossom Wealth Management now owns 1,500 shares of the technology company’s stock valued at $289,000 after purchasing an additional 461 shares during the period. Cherry Creek Investment Advisors Inc. boosted its holdings in shares of Veeva Systems by 1.8% in the 4th quarter. Cherry Creek Investment Advisors Inc. now owns 6,636 shares of the technology company’s stock worth $1,278,000 after acquiring an additional 120 shares in the last quarter. Peregrine Capital Management LLC boosted its holdings in shares of Veeva Systems by 16.5% in the 4th quarter. Peregrine Capital Management LLC now owns 263,659 shares of the technology company’s stock worth $50,760,000 after acquiring an additional 37,354 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of Veeva Systems by 703.8% in the 4th quarter. Sequoia Financial Advisors LLC now owns 15,594 shares of the technology company’s stock worth $3,002,000 after acquiring an additional 13,654 shares in the last quarter. Finally, B.O.S.S. Retirement Advisors LLC boosted its holdings in shares of Veeva Systems by 8.1% in the 4th quarter. B.O.S.S. Retirement Advisors LLC now owns 8,582 shares of the technology company’s stock worth $1,652,000 after acquiring an additional 641 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on VEEV shares. Needham & Company LLC reissued a “buy” rating and issued a $260.00 target price on shares of Veeva Systems in a report on Tuesday, April 2nd. UBS Group boosted their target price on Veeva Systems from $185.00 to $235.00 and gave the stock a “neutral” rating in a report on Monday, February 26th. Robert W. Baird boosted their target price on Veeva Systems from $245.00 to $251.00 and gave the stock an “outperform” rating in a report on Friday, March 1st. The Goldman Sachs Group upped their price objective on Veeva Systems from $219.00 to $248.00 and gave the stock a “buy” rating in a report on Friday, March 1st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 price objective on shares of Veeva Systems in a report on Wednesday, March 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $234.90.

Veeva Systems Stock Down 2.1 %

VEEV stock opened at $206.74 on Friday. The business’s fifty day moving average is $222.40 and its 200-day moving average is $202.89. The company has a market cap of $33.35 billion, a P/E ratio of 64.20, a price-to-earnings-growth ratio of 2.09 and a beta of 0.74. Veeva Systems Inc. has a twelve month low of $160.21 and a twelve month high of $236.90.

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

Insider Activity at Veeva Systems

In related news, Director Timothy S. Cabral sold 15,000 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were 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 transaction was disclosed in a filing with the SEC, which is available through this link. In other Veeva Systems news, COO Thomas D. Schwenger sold 1,238 shares of the stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $210.02, for a total transaction of $260,004.76. Following the completion of the transaction, the chief operating officer now owns 24,342 shares in the company, valued at approximately $5,112,306.84. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Timothy S. Cabral sold 15,000 shares of the stock in a transaction dated 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 transaction, the director now owns 23,391 shares of the company’s stock, valued at approximately $5,287,301.64. The disclosure for this sale can be found here. Insiders sold a total of 17,148 shares of company stock worth $3,836,900 in the last quarter. Corporate insiders own 10.98% of the company’s stock.

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.