GAMMA Investing LLC Invests $158,000 in Veeva Systems Inc. (NYSE:VEEV)

GAMMA Investing LLC bought a new position in shares of Veeva Systems Inc. (NYSE:VEEV) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 762 shares of the technology company’s stock, valued at approximately $158,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Invesco Ltd. raised its holdings in shares of Veeva Systems by 239.7% in the third quarter. Invesco Ltd. now owns 956,355 shares of the technology company’s stock valued at $194,570,000 after acquiring an additional 674,785 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Veeva Systems by 34.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,045,414 shares of the technology company’s stock valued at $416,139,000 after acquiring an additional 522,257 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Veeva Systems by 9.6% in the third quarter. Wellington Management Group LLP now owns 3,315,304 shares of the technology company’s stock valued at $674,499,000 after acquiring an additional 289,133 shares in the last quarter. FMR LLC grew its stake in Veeva Systems by 15.4% in the third quarter. FMR LLC now owns 1,833,135 shares of the technology company’s stock valued at $372,951,000 after purchasing an additional 244,599 shares during the last quarter. Finally, International Assets Investment Management LLC grew its stake in Veeva Systems by 16,580.5% in the fourth quarter. International Assets Investment Management LLC now owns 187,322 shares of the technology company’s stock valued at $36,063,000 after purchasing an additional 186,199 shares during the last quarter. 88.20% of the stock is currently owned by institutional investors.

Veeva Systems Price Performance

Shares of Veeva Systems stock opened at $200.91 on Friday. The stock has a market cap of $32.41 billion, a P/E ratio of 62.39, a P/E/G ratio of 2.01 and a beta of 0.74. The stock’s 50 day simple moving average is $219.27 and its 200-day simple moving average is $202.63. Veeva Systems Inc. has a 1-year low of $160.21 and a 1-year high of $236.90.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings results on Thursday, February 29th. The technology company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.81 by $0.11. The firm had revenue of $630.62 million for the quarter, compared to analyst estimates of $620.75 million. Veeva Systems had a net margin of 22.24% and a return on equity of 11.26%. As a group, research analysts expect that Veeva Systems Inc. will post 4.11 EPS for the current fiscal year.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, Director Timothy S. Cabral sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $226.04, for a total value of $3,390,600.00. Following the sale, the director now 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 can be accessed through the SEC website. In other news, Director Timothy S. Cabral sold 15,000 shares of the company’s stock in a transaction 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 sale, the director now owns 23,391 shares of the company’s stock, valued at $5,287,301.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Alan Mateo sold 3,391 shares of the company’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $200.86, for a total value of $681,116.26. Following the sale, the executive vice president now directly owns 21,983 shares in the company, valued at approximately $4,415,505.38. The disclosure for this sale can be found here. Insiders have sold a total of 21,989 shares of company stock valued at $4,818,013 over the last quarter. 10.98% of the stock is owned by company insiders.

Analysts Set New Price Targets

VEEV has been the topic of several analyst reports. KeyCorp lifted their target price on Veeva Systems from $232.00 to $250.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th. Piper Sandler boosted their price target on Veeva Systems from $220.00 to $245.00 and gave the company an “overweight” rating in a research note on Friday, March 1st. Robert W. Baird lifted their price objective on Veeva Systems from $245.00 to $251.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. Oppenheimer restated an “outperform” rating and set a $225.00 target price on shares of Veeva Systems in a research report on Thursday, February 22nd. Finally, Stifel Nicolaus raised their target price on Veeva Systems from $205.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $234.90.

Veeva Systems Company 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.