Alberta Investment Management Corp Buys 6,800 Shares of Veeva Systems Inc (NYSE:VEEV)

Alberta Investment Management Corp grew its stake in shares of Veeva Systems Inc (NYSE:VEEV) by 89.5% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,400 shares of the technology company’s stock after acquiring an additional 6,800 shares during the period. Alberta Investment Management Corp’s holdings in Veeva Systems were worth $2,252,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Lighthouse Financial Advisors Inc. raised its stake in shares of Veeva Systems by 1,414.5% during the first quarter. Lighthouse Financial Advisors Inc. now owns 3,665 shares of the technology company’s stock valued at $573,000 after acquiring an additional 3,423 shares in the last quarter. Nations Financial Group Inc. IA ADV raised its stake in shares of Veeva Systems by 7.4% during the first quarter. Nations Financial Group Inc. IA ADV now owns 4,455 shares of the technology company’s stock valued at $697,000 after acquiring an additional 308 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in shares of Veeva Systems during the first quarter valued at approximately $48,000. Swiss National Bank raised its stake in shares of Veeva Systems by 24.5% during the first quarter. Swiss National Bank now owns 510,556 shares of the technology company’s stock valued at $79,836,000 after acquiring an additional 100,400 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its stake in shares of Veeva Systems by 8.6% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 29,402 shares of the technology company’s stock valued at $4,598,000 after acquiring an additional 2,334 shares in the last quarter. 76.99% of the stock is owned by hedge funds and other institutional investors.

Several analysts have recently weighed in on the stock. Bank of America reaffirmed a “buy” rating and set a $180.00 price target (down previously from $192.00) on shares of Veeva Systems in a research note on Wednesday, March 4th. Stifel Nicolaus reduced their price objective on shares of Veeva Systems from $185.00 to $170.00 and set a “buy” rating for the company in a research note on Wednesday, March 4th. Cfra reduced their price objective on shares of Veeva Systems from $185.00 to $164.00 and set a “hold” rating for the company in a research note on Wednesday, March 4th. Piper Sandler reduced their price objective on shares of Veeva Systems from $188.00 to $180.00 and set an “overweight” rating for the company in a research note on Tuesday, March 31st. Finally, ValuEngine raised shares of Veeva Systems from a “sell” rating to a “hold” rating in a research note on Tuesday, February 4th. Nine investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $177.71.

Shares of VEEV stock opened at $202.96 on Friday. The business’s fifty day simple moving average is $180.85 and its 200-day simple moving average is $155.07. The company has a market cap of $29.47 billion, a PE ratio of 106.26, a PEG ratio of 7.23 and a beta of 0.92. The company has a current ratio of 2.78, a quick ratio of 2.78 and a debt-to-equity ratio of 0.03. Veeva Systems Inc has a 12-month low of $118.11 and a 12-month high of $205.67.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings results on Tuesday, March 3rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. The business had revenue of $311.50 million for the quarter, compared to the consensus estimate of $298.00 million. Veeva Systems had a return on equity of 16.34% and a net margin of 27.27%. The business’s quarterly revenue was up 34.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.45 earnings per share. On average, equities analysts forecast that Veeva Systems Inc will post 1.75 earnings per share for the current year.

In other news, CAO Michele O’connor sold 3,000 shares of the business’s stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of $156.89, for a total transaction of $470,670.00. Following the sale, the chief accounting officer now directly owns 3,000 shares of the company’s stock, valued at $470,670. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CMO Eleni Nitsa Zuppas sold 242 shares of the business’s stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $148.55, for a total transaction of $35,949.10. Following the sale, the chief marketing officer now directly owns 10,705 shares in the company, valued at $1,590,227.75. The disclosure for this sale can be found here. Insiders have sold 26,282 shares of company stock worth $4,161,149 over the last three months. Corporate insiders own 14.38% of the company’s stock.

Veeva Systems Profile

Veeva Systems Inc provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, and internationally. The company offers Veeva Commercial Cloud, a suite of multichannel customer relationship management applications, data solutions, and master data management solutions; and Veeva Vault, a cloud-based enterprise content and data management applications for managing commercial functions, including medical, sales, and marketing, as well as research and development functions, such as clinical, regulatory, quality, and safety.

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

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