Veeva Systems Inc. (NYSE:VEEV) Shares Acquired by Capital Analysts LLC

Capital Analysts LLC lifted its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 352.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 678 shares of the technology company’s stock after buying an additional 528 shares during the quarter. Capital Analysts LLC’s holdings in Veeva Systems were worth $131,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Cornercap Investment Counsel Inc. purchased a new stake in shares of Veeva Systems during the 4th quarter valued at about $1,035,000. Vontobel Holding Ltd. raised its holdings in shares of Veeva Systems by 1.2% during the 4th quarter. Vontobel Holding Ltd. now owns 28,760 shares of the technology company’s stock valued at $5,537,000 after buying an additional 341 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Veeva Systems by 2.7% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 397,223 shares of the technology company’s stock valued at $76,473,000 after buying an additional 10,316 shares during the period. Lecap Asset Management Ltd. purchased a new stake in shares of Veeva Systems during the 4th quarter valued at about $2,668,000. Finally, Shaker Investments LLC OH purchased a new stake in shares of Veeva Systems during the 4th quarter valued at about $801,000. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Veeva Systems Price Performance

NYSE:VEEV opened at $199.52 on Friday. Veeva Systems Inc. has a 12-month low of $160.21 and a 12-month high of $236.90. The firm has a market capitalization of $32.19 billion, a P/E ratio of 61.96, a P/E/G ratio of 2.01 and a beta of 0.74. The business has a 50 day simple moving average of $221.54 and a 200 day simple moving average of $202.82.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Thursday, February 29th. The technology company reported $0.92 earnings per share (EPS) 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 business had revenue of $630.62 million during the quarter, compared to analyst estimates of $620.75 million. Research analysts anticipate that Veeva Systems Inc. will post 4.11 EPS for the current fiscal year.

Insider Activity at Veeva Systems

In related news, SVP Jonathan Faddis sold 3,598 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $207.42, for a total transaction of $746,297.16. Following the completion of the transaction, the senior vice president now owns 10,668 shares in the company, valued at approximately $2,212,756.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Veeva Systems news, Director Timothy S. Cabral sold 15,000 shares of the business’s stock in a transaction 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 completion of the transaction, the director now owns 23,391 shares in the company, valued at approximately $5,287,301.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jonathan Faddis sold 3,598 shares of the business’s 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 transaction, the senior vice president now owns 10,668 shares of the company’s stock, valued at approximately $2,212,756.56. The disclosure for this sale can be found here. Insiders sold 19,836 shares of company stock worth $4,396,902 in the last 90 days. 10.98% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on VEEV. Raymond James reiterated an “outperform” rating and set a $260.00 target price on shares of Veeva Systems in a report on Tuesday, March 26th. UBS Group lifted their price objective on Veeva Systems from $185.00 to $235.00 and gave the stock a “neutral” rating in a report on Monday, February 26th. Royal Bank of Canada restated an “outperform” rating and set a $250.00 price objective on shares of Veeva Systems in a report on Wednesday, March 27th. JPMorgan Chase & Co. lifted their price objective on Veeva Systems from $183.00 to $222.00 and gave the stock a “neutral” rating in a report on Wednesday, March 13th. Finally, Barclays lifted their price objective on Veeva Systems from $240.00 to $245.00 and gave the stock an “overweight” rating in a report on Friday, March 1st. One investment 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. According to data from MarketBeat, Veeva Systems currently has a consensus rating of “Moderate Buy” and an average price target of $234.90.

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.