Rakuten Securities Inc. Purchases Shares of 327 Veeva Systems Inc. (NYSE:VEEV)

Rakuten Securities Inc. bought a new stake in shares of Veeva Systems Inc. (NYSE:VEEV) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 327 shares of the technology company’s stock, valued at approximately $63,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. OFI Invest Asset Management bought a new stake in Veeva Systems during the third quarter valued at about $25,000. Operose Advisors LLC bought a new position in shares of Veeva Systems during the 3rd quarter valued at approximately $29,000. Parkside Financial Bank & Trust grew its stake in shares of Veeva Systems by 81.9% during the 3rd quarter. Parkside Financial Bank & Trust now owns 171 shares of the technology company’s stock valued at $35,000 after acquiring an additional 77 shares during the period. Atticus Wealth Management LLC increased its holdings in Veeva Systems by 500.0% in the 3rd quarter. Atticus Wealth Management LLC now owns 180 shares of the technology company’s stock worth $37,000 after acquiring an additional 150 shares in the last quarter. Finally, Resurgent Financial Advisors LLC bought a new stake in Veeva Systems during the 4th quarter worth approximately $33,000. 88.20% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Veeva Systems

In other news, COO Thomas D. Schwenger sold 1,238 shares of the firm’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $210.02, for a total value of $260,004.76. Following the completion of the sale, the chief operating officer now owns 24,342 shares of the company’s stock, valued at approximately $5,112,306.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Timothy S. Cabral sold 15,000 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $226.04, for a total value of $3,390,600.00. Following the completion of the transaction, the director now directly owns 23,391 shares of the company’s stock, valued at approximately $5,287,301.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Thomas D. Schwenger sold 1,238 shares of Veeva Systems stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $210.02, for a total transaction of $260,004.76. Following the completion of the sale, the chief operating officer now owns 24,342 shares of the company’s stock, valued at $5,112,306.84. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,836 shares of company stock valued at $4,396,902. Corporate insiders own 10.98% of the company’s stock.

Veeva Systems Stock Performance

Shares of Veeva Systems stock opened at $199.18 on Thursday. The company has a market capitalization of $32.13 billion, a PE ratio of 61.86, a P/E/G ratio of 2.02 and a beta of 0.74. The company has a 50-day simple moving average of $221.86 and a two-hundred day simple moving average of $202.84. Veeva Systems Inc. has a one year low of $160.21 and a one year high of $236.90.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings data on Thursday, February 29th. The technology company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.81 by $0.11. Veeva Systems had a net margin of 22.24% and a return on equity of 11.26%. The firm had revenue of $630.62 million during the quarter, compared to analyst estimates of $620.75 million. On average, equities analysts predict that Veeva Systems Inc. will post 4.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on VEEV shares. UBS Group lifted their target price on shares of Veeva Systems from $185.00 to $235.00 and gave the company a “neutral” rating in a research note on Monday, February 26th. KeyCorp upped their price objective on Veeva Systems from $232.00 to $250.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. StockNews.com upgraded Veeva Systems from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. Needham & Company LLC reissued a “buy” rating and issued a $260.00 price target on shares of Veeva Systems in a report on Tuesday, April 2nd. Finally, Oppenheimer restated an “outperform” rating and issued a $225.00 price target on shares of Veeva Systems in a research note on Thursday, February 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $234.90.

Veeva Systems 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.