Verdence Capital Advisors LLC Raises Stake in Veeva Systems Inc. (NYSE:VEEV)

Verdence Capital Advisors LLC lifted its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 21.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,521 shares of the technology company’s stock after acquiring an additional 805 shares during the period. Verdence Capital Advisors LLC’s holdings in Veeva Systems were worth $870,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of VEEV. UMB Bank n.a. grew its position in Veeva Systems by 2.5% in the 3rd quarter. UMB Bank n.a. now owns 2,103 shares of the technology company’s stock valued at $428,000 after acquiring an additional 51 shares in the last quarter. NewEdge Wealth LLC grew its holdings in shares of Veeva Systems by 0.6% in the third quarter. NewEdge Wealth LLC now owns 10,059 shares of the technology company’s stock valued at $2,047,000 after purchasing an additional 60 shares in the last quarter. Personal CFO Solutions LLC increased its stake in Veeva Systems by 5.9% during the 3rd quarter. Personal CFO Solutions LLC now owns 1,091 shares of the technology company’s stock worth $222,000 after buying an additional 61 shares during the period. Penserra Capital Management LLC lifted its holdings in Veeva Systems by 9.3% during the 4th quarter. Penserra Capital Management LLC now owns 729 shares of the technology company’s stock worth $117,000 after buying an additional 62 shares in the last quarter. Finally, Toroso Investments LLC boosted its position in Veeva Systems by 4.9% in the 3rd quarter. Toroso Investments LLC now owns 1,318 shares of the technology company’s stock valued at $217,000 after buying an additional 62 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on VEEV. Piper Sandler increased their price objective on Veeva Systems from $220.00 to $245.00 and gave the company an “overweight” rating in a research note on Friday, March 1st. Barclays upped their target price on shares of Veeva Systems from $240.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st. The Goldman Sachs Group lifted their price target on shares of Veeva Systems from $219.00 to $248.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Raymond James reissued an “outperform” rating and issued a $260.00 price objective on shares of Veeva Systems in a research report on Tuesday, March 26th. Finally, Stifel Nicolaus lifted their price objective on shares of Veeva Systems from $205.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Veeva Systems has an average rating of “Moderate Buy” and an average price target of $234.90.

Veeva Systems Trading Down 0.6 %

Shares of VEEV stock opened at $198.38 on Monday. The business’s 50 day moving average is $221.17 and its two-hundred day moving average is $202.83. Veeva Systems Inc. has a twelve month low of $160.21 and a twelve month high of $236.90. The company has a market capitalization of $32.00 billion, a P/E ratio of 61.61, a price-to-earnings-growth ratio of 2.00 and a beta of 0.74.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings results on Thursday, February 29th. The technology company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.11. The company 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%. As a group, equities analysts predict that Veeva Systems Inc. will post 4.11 earnings per share for the current fiscal year.

Insider Activity at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 3,598 shares of the business’s stock in a transaction dated 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 sale, the senior vice president now owns 10,668 shares of the company’s stock, valued at $2,212,756.56. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Veeva Systems news, SVP Jonathan Faddis sold 3,598 shares of Veeva Systems stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $207.42, for a total transaction of $746,297.16. Following the transaction, the senior vice president now directly owns 10,668 shares of the company’s stock, valued at $2,212,756.56. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Timothy S. Cabral sold 15,000 shares of the firm’s stock in a transaction on 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 directly owns 23,391 shares in the company, valued at approximately $5,287,301.64. The disclosure for this sale can be found here. 10.98% of the stock is owned by insiders.

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.