Perigon Wealth Management LLC Boosts Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Perigon Wealth Management LLC increased its stake in Veeva Systems Inc. (NYSE:VEEV) by 4.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,232 shares of the technology company’s stock after buying an additional 96 shares during the quarter. Perigon Wealth Management LLC’s holdings in Veeva Systems were worth $430,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of VEEV. Norges Bank bought a new stake in Veeva Systems in the fourth quarter worth $259,703,000. Wellington Management Group LLP lifted its position in Veeva Systems by 1,578.4% in the first quarter. Wellington Management Group LLP now owns 1,504,355 shares of the technology company’s stock worth $319,616,000 after buying an additional 1,414,726 shares during the last quarter. Invesco Ltd. lifted its position in shares of Veeva Systems by 239.7% during the third quarter. Invesco Ltd. now owns 956,355 shares of the technology company’s stock worth $194,570,000 after purchasing an additional 674,785 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Veeva Systems by 34.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,045,414 shares of the technology company’s stock worth $416,139,000 after purchasing an additional 522,257 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its position in shares of Veeva Systems by 25.0% during the second quarter. Nuveen Asset Management LLC now owns 2,432,413 shares of the technology company’s stock worth $480,961,000 after purchasing an additional 486,588 shares during the last quarter. 88.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Oppenheimer reiterated an “outperform” rating and set a $225.00 target price on shares of Veeva Systems in a research report on Thursday, February 22nd. Raymond James reiterated an “outperform” rating and set a $260.00 target price on shares of Veeva Systems in a research report on Tuesday, March 26th. Robert W. Baird lifted their price objective on Veeva Systems from $245.00 to $251.00 and gave the company an “outperform” rating in a report on Friday, March 1st. Truist Financial lifted their price objective on Veeva Systems from $187.00 to $203.00 and gave the company a “hold” rating in a report on Friday, March 1st. Finally, Jefferies Financial Group lifted their price objective on Veeva Systems from $225.00 to $270.00 and gave the company a “buy” rating in a report on Monday, March 4th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $234.90.

Veeva Systems Trading Down 2.5 %

NYSE VEEV opened at $201.62 on Tuesday. The stock has a market cap of $32.53 billion, a PE ratio of 62.61, a P/E/G 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. The stock has a fifty day simple moving average of $222.35 and a 200-day simple moving average of $202.89.

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 analyst estimates of $620.75 million. Veeva Systems had a return on equity of 11.26% and a net margin of 22.24%. Research analysts predict that Veeva Systems Inc. will post 4.11 EPS for the current year.

Insider Buying and Selling

In other Veeva Systems news, Director Timothy S. Cabral sold 15,000 shares of Veeva Systems stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $226.04, for a total transaction of $3,390,600.00. Following the transaction, the director now owns 23,391 shares of the company’s stock, valued at $5,287,301.64. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, COO Thomas D. Schwenger sold 1,238 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $210.02, for a total value of $260,004.76. Following the transaction, the chief operating officer now owns 24,342 shares of the company’s stock, valued at $5,112,306.84. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Timothy S. Cabral sold 15,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 23,391 shares in the company, 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 over the last 90 days. 10.98% of the stock is owned by insiders.

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.