J2 Capital Management Inc Takes Position in Veeva Systems Inc. (NYSE:VEEV)

J2 Capital Management Inc purchased a new position in Veeva Systems Inc. (NYSE:VEEV) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,905 shares of the technology company’s stock, valued at approximately $441,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Centricity Wealth Management LLC acquired a new stake in Veeva Systems during the 4th quarter worth $25,000. Smithfield Trust Co lifted its stake in shares of Veeva Systems by 145.5% in the fourth quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock valued at $27,000 after purchasing an additional 80 shares during the period. Avion Wealth lifted its stake in shares of Veeva Systems by 635.0% in the fourth quarter. Avion Wealth now owns 147 shares of the technology company’s stock valued at $30,000 after purchasing an additional 127 shares during the period. Venturi Wealth Management LLC increased its holdings in Veeva Systems by 2,716.7% during the 4th quarter. Venturi Wealth Management LLC now owns 169 shares of the technology company’s stock valued at $36,000 after acquiring an additional 163 shares in the last quarter. Finally, Promus Capital LLC purchased a new position in Veeva Systems during the 4th quarter valued at about $36,000. 88.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Veeva Systems

In related news, SVP Jonathan Faddis sold 787 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total transaction of $178,019.40. Following the sale, the senior vice president now directly owns 8,668 shares of the company’s stock, valued at approximately $1,960,701.60. This represents a 8.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Thomas D. Schwenger sold 1,200 shares of the stock in a transaction on Monday, April 14th. The stock was sold at an average price of $220.97, for a total value of $265,164.00. Following the completion of the sale, the insider now directly owns 25,889 shares in the company, valued at $5,720,692.33. This represents a 4.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,869 shares of company stock valued at $1,284,917. 10.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on VEEV. Robert W. Baird raised their target price on shares of Veeva Systems from $283.00 to $285.00 and gave the stock an “outperform” rating in a research report on Thursday, March 6th. Raymond James lifted their price target on shares of Veeva Systems from $285.00 to $310.00 and gave the stock an “outperform” rating in a research note on Thursday. Truist Financial boosted their price target on shares of Veeva Systems from $217.00 to $230.00 and gave the company a “hold” rating in a report on Thursday. Wall Street Zen upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Wells Fargo & Company upped their price target on shares of Veeva Systems from $285.00 to $300.00 and gave the company an “overweight” rating in a report on Thursday. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $269.00.

Veeva Systems Trading Up 0.4%

Shares of VEEV opened at $280.03 on Friday. The firm has a market capitalization of $45.56 billion, a P/E ratio of 69.14, a P/E/G ratio of 1.89 and a beta of 0.96. The firm has a 50-day moving average price of $230.48 and a 200 day moving average price of $227.86. Veeva Systems Inc. has a 12-month low of $170.25 and a 12-month high of $285.70.

Veeva Systems (NYSE:VEEV) last issued its earnings results on Wednesday, May 28th. The technology company reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.23. Veeva Systems had a net margin of 25.07% and a return on equity of 13.56%. The firm had revenue of $759.04 million for the quarter, compared to analysts’ expectations of $728.38 million. During the same quarter last year, the company earned $1.50 earnings per share. The firm’s revenue was up 16.7% compared to the same quarter last year. Equities research analysts predict that Veeva Systems Inc. will post 4.35 earnings per share for the current fiscal year.

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.