Ninety One UK Ltd Purchases New Shares in Veeva Systems Inc. (NYSE:VEEV)

Ninety One UK Ltd purchased a new stake in shares of Veeva Systems Inc. (NYSE:VEEV) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 60,701 shares of the technology company’s stock, valued at approximately $11,686,000.

Other hedge funds also recently made changes to their positions in the company. OFI Invest Asset Management bought a new stake in Veeva Systems in the third quarter worth $25,000. Operose Advisors LLC bought a new stake in Veeva Systems in the third quarter worth $29,000. Resurgent Financial Advisors LLC bought a new stake in Veeva Systems in the fourth quarter worth $33,000. Parkside Financial Bank & Trust boosted its holdings in Veeva Systems by 81.9% in the third quarter. Parkside Financial Bank & Trust now owns 171 shares of the technology company’s stock worth $35,000 after acquiring an additional 77 shares in the last quarter. Finally, Atticus Wealth Management LLC boosted its holdings in Veeva Systems by 500.0% in the third 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. 88.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have commented on VEEV. KeyCorp boosted their target price on Veeva Systems from $232.00 to $250.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. Oppenheimer reaffirmed an “outperform” rating and set a $225.00 price target on shares of Veeva Systems in a report on Thursday, February 22nd. Citigroup upped their price target on Veeva Systems from $240.00 to $264.00 and gave the company a “buy” rating in a report on Friday, March 1st. Jefferies Financial Group upped their price target on Veeva Systems from $225.00 to $270.00 and gave the company a “buy” rating in a report on Monday, March 4th. Finally, Stifel Nicolaus upped their price target on Veeva Systems from $205.00 to $250.00 and gave the company a “buy” rating in a report on Friday, March 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $234.90.

Insider Activity at Veeva Systems

In related news, COO Thomas D. Schwenger sold 1,238 shares of the 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 transaction, the chief operating officer now directly owns 24,342 shares of the company’s stock, valued at $5,112,306.84. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, Director Timothy S. Cabral sold 15,000 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was 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 of the company’s stock, valued at $5,287,301.64. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Thomas D. Schwenger sold 1,238 shares of the stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $210.02, for a total value of $260,004.76. Following the transaction, the chief operating officer now directly 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 sold 19,836 shares of company stock valued at $4,396,902. Insiders own 10.98% of the company’s stock.

Veeva Systems Trading Up 0.2 %

NYSE:VEEV opened at $199.52 on Friday. Veeva Systems Inc. has a 12-month low of $160.21 and a 12-month high of $236.90. The stock has a 50-day moving average price of $221.54 and a 200 day moving average price of $202.82. The stock has a market capitalization of $32.19 billion, a P/E ratio of 61.96, a P/E/G ratio of 2.01 and a beta of 0.74.

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

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.