NorthCrest Asset Manangement LLC Purchases 1,241 Shares of Veeva Systems Inc. (NYSE:VEEV)

NorthCrest Asset Manangement LLC lifted its position in Veeva Systems Inc. (NYSE:VEEV) by 2.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 50,022 shares of the technology company’s stock after acquiring an additional 1,241 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Veeva Systems were worth $11,587,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in VEEV. Centricity Wealth Management LLC bought a new position in shares of Veeva Systems in the 4th quarter worth approximately $25,000. Smithfield Trust Co increased its position in 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 increased its position in 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 increased its position 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 buying an additional 163 shares in the last quarter. Finally, Promus Capital LLC bought a new position in Veeva Systems during the 4th quarter valued at approximately $36,000. Institutional investors own 88.20% of the company’s stock.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 787 shares of the firm’s stock in a transaction dated 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 $1,960,701.60. This trade represents a 8.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Timothy S. Cabral sold 3,882 shares of the firm’s stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $216.83, for a total value of $841,734.06. Following the sale, the director now directly owns 5,500 shares in the company, valued at approximately $1,192,565. This represents a 41.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,184 shares of company stock valued at $1,376,179 over the last ninety days. 10.30% of the stock is currently owned by company insiders.

Veeva Systems Stock Performance

Shares of Veeva Systems stock opened at $281.85 on Friday. Veeva Systems Inc. has a one year low of $176.41 and a one year high of $291.69. The stock’s fifty day moving average is $240.79 and its 200 day moving average is $231.94. The stock has a market cap of $45.86 billion, a P/E ratio of 69.59, a P/E/G ratio of 1.89 and a beta of 0.99.

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Needham & Company LLC raised their price objective on Veeva Systems from $270.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, May 29th. UBS Group raised their price objective on Veeva Systems from $250.00 to $285.00 and gave the company a “neutral” rating in a research report on Thursday, May 29th. Wells Fargo & Company raised their price objective on Veeva Systems from $285.00 to $300.00 and gave the company an “overweight” rating in a research report on Thursday, May 29th. Wall Street Zen raised Veeva Systems from a “hold” rating to a “buy” rating in a research report on Friday, May 30th. Finally, Citigroup raised their price objective on Veeva Systems from $265.00 to $329.00 and gave the company a “buy” rating in a research report on Friday, May 30th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $269.80.

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.