Clean Yield Group Acquires 5,433 Shares of Veeva Systems Inc. (NYSE:VEEV)

Clean Yield Group lifted its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 32.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,020 shares of the technology company’s stock after purchasing an additional 5,433 shares during the period. Veeva Systems accounts for about 1.7% of Clean Yield Group’s portfolio, making the stock its 18th biggest position. Clean Yield Group’s holdings in Veeva Systems were worth $5,100,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in VEEV. Leigh Baldwin & CO. LLC bought a new position in Veeva Systems in the fourth quarter worth approximately $685,355,000. Norges Bank bought a new position in Veeva Systems in the fourth quarter worth approximately $294,785,000. JPMorgan Chase & Co. boosted its holdings in Veeva Systems by 73.2% in the third quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company’s stock worth $536,972,000 after acquiring an additional 1,081,501 shares in the last quarter. Wealthfront Advisers LLC boosted its holdings in Veeva Systems by 29,760.5% in the fourth quarter. Wealthfront Advisers LLC now owns 1,048,700 shares of the technology company’s stock worth $220,489,000 after acquiring an additional 1,045,188 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Veeva Systems by 36.0% in the fourth quarter. Principal Financial Group Inc. now owns 2,964,025 shares of the technology company’s stock worth $623,186,000 after acquiring an additional 784,741 shares in the last quarter. Institutional investors own 88.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on VEEV shares. Wells Fargo & Company increased their price target on Veeva Systems from $285.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday, May 29th. Needham & Company LLC increased their price target on Veeva Systems from $270.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, May 29th. Robert W. Baird increased their price target on Veeva Systems from $283.00 to $285.00 and gave the stock an “outperform” rating in a report on Thursday, March 6th. JPMorgan Chase & Co. increased their price objective on Veeva Systems from $218.00 to $249.00 and gave the stock a “neutral” rating in a research note on Thursday, March 20th. Finally, Wall Street Zen raised Veeva Systems from a “hold” rating to a “buy” rating in a research note on Friday, May 30th. Two investment 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $269.80.

Insider Transactions at Veeva Systems

In other news, Director Timothy S. Cabral sold 3,882 shares of the firm’s stock in a transaction on Friday, April 4th. The stock was sold at an average price of $216.83, for a total value of $841,734.06. Following the completion of the transaction, the director now directly owns 5,500 shares of the company’s stock, valued at $1,192,565. This trade represents a 41.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas D. Schwenger sold 1,200 shares of the firm’s 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 transaction, the insider now directly owns 25,889 shares of the company’s stock, valued at $5,720,692.33. The trade was a 4.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,869 shares of company stock valued at $1,284,917 over the last three months. Company insiders own 10.30% of the company’s stock.

Veeva Systems Price Performance

NYSE:VEEV opened at $285.08 on Friday. The business has a fifty day simple moving average of $235.57 and a two-hundred day simple moving average of $230.21. Veeva Systems Inc. has a 1 year low of $176.41 and a 1 year high of $291.68. The company has a market capitalization of $46.38 billion, a P/E ratio of 70.39, a P/E/G ratio of 1.89 and a beta of 0.99.

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, topping analysts’ consensus estimates of $1.74 by $0.23. Veeva Systems had a return on equity of 13.56% and a net margin of 25.07%. The business had revenue of $759.04 million during the quarter, compared to the consensus estimate of $728.38 million. During the same period last year, the business posted $1.50 earnings per share. The business’s revenue for the quarter was up 16.7% on a year-over-year basis. As a group, analysts anticipate that Veeva Systems Inc. will post 4.35 earnings per share for the current year.

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.