Annandale Capital LLC Takes Position in Veeva Systems Inc. (NYSE:VEEV)

Annandale Capital LLC acquired a new position in Veeva Systems Inc. (NYSE:VEEV) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,800 shares of the technology company’s stock, valued at approximately $512,000.

Several other large investors also recently added to or reduced their stakes in the business. Advisors Asset Management Inc. bought a new stake in shares of Veeva Systems during the 1st quarter valued at $28,000. First Financial Corp IN purchased a new stake in Veeva Systems in the first quarter worth about $35,000. Larson Financial Group LLC raised its stake in shares of Veeva Systems by 1,153.8% in the first quarter. Larson Financial Group LLC now owns 163 shares of the technology company’s stock worth $38,000 after buying an additional 150 shares during the period. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Veeva Systems during the 4th quarter valued at about $32,000. Finally, Blue Trust Inc. increased its holdings in Veeva Systems by 3,460.0% in the 2nd quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock worth $33,000 after acquiring an additional 173 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors.

Veeva Systems Stock Performance

Shares of Veeva Systems stock opened at $210.85 on Friday. The stock has a market cap of $34.14 billion, a price-to-earnings ratio of 62.20, a price-to-earnings-growth ratio of 2.02 and a beta of 0.81. The stock has a 50 day moving average price of $201.77 and a 200-day moving average price of $200.91. Veeva Systems Inc. has a one year low of $162.72 and a one year high of $236.90.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings data on Wednesday, August 28th. The technology company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.03. The business had revenue of $676.18 million for the quarter, compared to analysts’ expectations of $667.21 million. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. Sell-side analysts predict that Veeva Systems Inc. will post 4.21 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on VEEV. Citigroup upped their target price on shares of Veeva Systems from $256.00 to $273.00 and gave the stock a “buy” rating in a report on Tuesday, August 27th. Piper Sandler lifted their target price on Veeva Systems from $225.00 to $230.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Barclays upped their price target on Veeva Systems from $220.00 to $240.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Needham & Company LLC reiterated a “buy” rating and set a $260.00 price objective on shares of Veeva Systems in a research report on Thursday, August 29th. Finally, Truist Financial upped their target price on shares of Veeva Systems from $197.00 to $207.00 and gave the stock a “hold” rating in a research report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $229.96.

Insider Buying and Selling

In other news, SVP Jonathan Faddis sold 2,353 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $200.00, for a total transaction of $470,600.00. Following the transaction, the senior vice president now owns 9,035 shares of the company’s stock, valued at $1,807,000. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 10.50% of the stock is currently owned by corporate 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.