2,311 Shares in Veeva Systems Inc. (NYSE:VEEV) Purchased by GSA Capital Partners LLP

GSA Capital Partners LLP purchased a new position in shares of Veeva Systems Inc. (NYSE:VEEV) during the first quarter, HoldingsChannel.com reports. The institutional investor purchased 2,311 shares of the technology company’s stock, valued at approximately $535,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. lifted its position in Veeva Systems by 3.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,169,698 shares of the technology company’s stock valued at $1,086,930,000 after purchasing an additional 177,201 shares during the period. Leigh Baldwin & CO. LLC acquired a new stake in Veeva Systems in the fourth quarter valued at about $685,355,000. FMR LLC lifted its position in Veeva Systems by 7.8% in the fourth quarter. FMR LLC now owns 3,213,360 shares of the technology company’s stock valued at $675,609,000 after purchasing an additional 232,116 shares during the period. Principal Financial Group Inc. lifted its position in Veeva Systems by 6.4% in the first quarter. Principal Financial Group Inc. now owns 3,152,357 shares of the technology company’s stock valued at $730,181,000 after purchasing an additional 188,332 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Veeva Systems by 22.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,214,146 shares of the technology company’s stock valued at $255,274,000 after purchasing an additional 225,629 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Stock Performance

VEEV stock opened at $285.52 on Tuesday. The stock has a market capitalization of $46.66 billion, a P/E ratio of 60.49, a PEG ratio of 2.23 and a beta of 0.95. Veeva Systems Inc. has a one year low of $177.41 and a one year high of $296.72. The company has a 50 day moving average price of $281.05 and a two-hundred day moving average price of $247.68.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Wednesday, May 28th. The technology company reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.23. Veeva Systems had a net margin of 27.34% and a return on equity of 13.96%. The company had revenue of $759.04 million during the quarter, compared to analysts’ expectations of $728.38 million. During the same period in the previous year, the company earned $1.50 EPS. The business’s quarterly revenue was up 16.7% compared to the same quarter last year. Research analysts forecast that Veeva Systems Inc. will post 4.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company lifted their price target on shares of Veeva Systems from $285.00 to $300.00 and gave the company an “overweight” rating in a research report on Thursday, May 29th. Citigroup lifted their price target on shares of Veeva Systems from $265.00 to $329.00 and gave the company a “buy” rating in a research report on Friday, May 30th. KeyCorp lifted their price target on shares of Veeva Systems from $285.00 to $325.00 and gave the company an “overweight” rating in a research report on Monday, July 14th. Piper Sandler lifted their price target on shares of Veeva Systems from $255.00 to $325.00 and gave the company an “overweight” rating in a research report on Thursday, May 29th. Finally, Stifel Nicolaus lifted their price target on shares of Veeva Systems from $272.00 to $295.00 and gave the company a “buy” rating in a research report on Thursday, May 29th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $274.17.

Insider Activity

In related news, Director Timothy S. Cabral sold 315 shares of Veeva Systems stock in a transaction on Friday, June 6th. The shares were sold at an average price of $289.72, for a total transaction of $91,261.80. Following the transaction, the director owned 5,500 shares in the company, valued at approximately $1,593,460. The trade was a 5.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Jonathan Faddis sold 720 shares of Veeva Systems stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $285.62, for a total transaction of $205,646.40. Following the transaction, the senior vice president owned 7,902 shares in the company, valued at $2,256,969.24. The trade was a 8.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,378 shares of company stock valued at $394,217 in the last ninety days. Company insiders own 10.30% of the company’s stock.

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.