NBC Securities Inc. Raises Position in Veeva Systems Inc. (NYSE:VEEV)

NBC Securities Inc. boosted its stake in Veeva Systems Inc. (NYSE:VEEV) by 170,800.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,709 shares of the technology company’s stock after buying an additional 1,708 shares during the period. NBC Securities Inc.’s holdings in Veeva Systems were worth $395,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in VEEV. Centricity Wealth Management LLC purchased a new stake in Veeva Systems in the fourth quarter worth approximately $25,000. Smithfield Trust Co lifted its stake in shares of Veeva Systems by 145.5% during the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock valued at $27,000 after buying an additional 80 shares in the last quarter. Avion Wealth lifted its stake in shares of Veeva Systems by 635.0% during the 4th quarter. Avion Wealth now owns 147 shares of the technology company’s stock valued at $30,000 after buying an additional 127 shares in the last quarter. Venturi Wealth Management LLC lifted its stake in shares of 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 buying an additional 163 shares in the last quarter. Finally, Promus Capital LLC purchased a new position in shares of Veeva Systems during the 4th quarter valued at $36,000. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Veeva Systems

In related news, Director Timothy S. Cabral sold 3,882 shares of the stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $216.83, for a total transaction of $841,734.06. Following the completion of the sale, the director now owns 5,500 shares of the company’s stock, valued at approximately $1,192,565. This represents a 41.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jonathan Faddis sold 787 shares of the 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 trade represents a 8.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,869 shares of company stock worth $1,284,917 in the last three months. Company insiders own 10.30% of the company’s stock.

Veeva Systems Stock Down 1.7%

NYSE:VEEV opened at $285.08 on Friday. The stock has a market cap of $46.38 billion, a PE ratio of 70.39, a price-to-earnings-growth ratio of 1.89 and a beta of 0.99. Veeva Systems Inc. has a fifty-two week low of $176.41 and a fifty-two week high of $291.68. The firm’s fifty day simple moving average is $235.57 and its 200-day simple moving average is $230.08.

Veeva Systems (NYSE:VEEV) last released its earnings results on Wednesday, May 28th. The technology company reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.23. The company had revenue of $759.04 million for the quarter, compared to analyst estimates of $728.38 million. Veeva Systems had a net margin of 25.07% and a return on equity of 13.56%. The firm’s quarterly revenue was up 16.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.50 EPS. Equities analysts anticipate that Veeva Systems Inc. will post 4.35 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have commented on VEEV. Wall Street Zen upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a research note on Friday, May 30th. UBS Group upped their price target on shares of Veeva Systems from $250.00 to $285.00 and gave the company a “neutral” rating in a report on Thursday, May 29th. Scotiabank upped their price target on shares of Veeva Systems from $240.00 to $245.00 and gave the company a “sector perform” rating in a report on Thursday, March 6th. Mizuho upped their target price on shares of Veeva Systems from $280.00 to $295.00 and gave the stock an “outperform” rating in a research note on Monday, June 2nd. Finally, Needham & Company LLC upped their target price on shares of Veeva Systems from $270.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, May 29th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $269.80.

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.