Veeva Systems Inc. (NYSE:VEEV) Stock Position Raised by Tobam

Tobam boosted its holdings in Veeva Systems Inc. (NYSE:VEEVFree Report) by 143.0% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 763 shares of the technology company’s stock after acquiring an additional 449 shares during the period. Tobam’s holdings in Veeva Systems were worth $177,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. DSM Capital Partners LLC bought a new stake in shares of Veeva Systems in the 4th quarter worth approximately $29,000. Vermillion & White Wealth Management Group LLC bought a new position in shares of Veeva Systems during the fourth quarter worth about $32,000. First Financial Corp IN acquired a new stake in shares of Veeva Systems in the 1st quarter worth about $35,000. American National Bank bought a new stake in Veeva Systems in the 4th quarter valued at about $36,000. Finally, Atticus Wealth Management LLC boosted its stake in Veeva Systems by 500.0% during the 3rd quarter. Atticus Wealth Management LLC now owns 180 shares of the technology company’s stock valued at $37,000 after purchasing an additional 150 shares during the period. Institutional investors own 88.20% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on VEEV. Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 price target on shares of Veeva Systems in a report on Friday, June 21st. Barclays decreased their target price on shares of Veeva Systems from $245.00 to $220.00 and set an “overweight” rating for the company in a research report on Friday, May 31st. Robert W. Baird upped their price target on shares of Veeva Systems from $251.00 to $255.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 29th. Raymond James reissued an “outperform” rating and set a $260.00 target price on shares of Veeva Systems in a report on Tuesday, March 26th. Finally, Stifel Nicolaus decreased their price target on Veeva Systems from $250.00 to $210.00 and set a “buy” rating for the company in a research note on Friday, May 31st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $227.95.

View Our Latest Stock Analysis on VEEV

Insider Activity at Veeva Systems

In other news, CFO Timothy S. Cabral sold 15,000 shares of the company’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $184.33, for a total value of $2,764,950.00. Following the transaction, the chief financial officer now directly owns 8,391 shares of the company’s stock, valued at $1,546,713.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Jonathan Faddis sold 3,598 shares of the firm’s 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 owns 10,668 shares of the company’s stock, valued at $2,212,756.56. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Timothy S. Cabral sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $184.33, for a total transaction of $2,764,950.00. Following the completion of the sale, the chief financial officer now directly owns 8,391 shares of the company’s stock, valued at $1,546,713.03. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,989 shares of company stock valued at $4,192,363. Corporate insiders own 10.50% of the company’s stock.

Veeva Systems Stock Performance

Shares of NYSE:VEEV traded down $1.46 during mid-day trading on Monday, hitting $182.00. The stock had a trading volume of 29,737 shares, compared to its average volume of 991,702. The company’s 50 day moving average is $192.88 and its 200-day moving average is $205.27. Veeva Systems Inc. has a 12-month low of $162.72 and a 12-month high of $236.90. The company has a market cap of $29.42 billion, a PE ratio of 54.12, a P/E/G ratio of 1.80 and a beta of 0.80.

Veeva Systems (NYSE:VEEVGet Free Report) last posted its quarterly earnings results on Thursday, May 30th. The technology company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.10. The firm had revenue of $650.35 million for the quarter, compared to analyst estimates of $641.73 million. Veeva Systems had a return on equity of 12.74% and a net margin of 22.34%. On average, equities research analysts predict that Veeva Systems Inc. will post 4.19 EPS for the current fiscal year.

Veeva Systems Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Veeva Systems (NYSE:VEEV)

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