8,911 Shares in Veeva Systems Inc. (NYSE:VEEV) Acquired by F M Investments LLC

F M Investments LLC bought a new stake in shares of Veeva Systems Inc. (NYSE:VEEV) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 8,911 shares of the technology company’s stock, valued at approximately $1,716,000.

Several other institutional investors have also added to or reduced their stakes in VEEV. Invesco Ltd. raised its holdings in Veeva Systems by 239.7% in the 3rd quarter. Invesco Ltd. now owns 956,355 shares of the technology company’s stock worth $194,570,000 after purchasing an additional 674,785 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Veeva Systems by 34.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,045,414 shares of the technology company’s stock valued at $416,139,000 after acquiring an additional 522,257 shares during the period. Wellington Management Group LLP increased its holdings in Veeva Systems by 9.6% in the 3rd quarter. Wellington Management Group LLP now owns 3,315,304 shares of the technology company’s stock worth $674,499,000 after acquiring an additional 289,133 shares in the last quarter. FMR LLC raised its stake in Veeva Systems by 15.4% during the 3rd quarter. FMR LLC now owns 1,833,135 shares of the technology company’s stock worth $372,951,000 after acquiring an additional 244,599 shares during the period. Finally, International Assets Investment Management LLC raised its stake in Veeva Systems by 16,580.5% during the 4th quarter. International Assets Investment Management LLC now owns 187,322 shares of the technology company’s stock worth $36,063,000 after acquiring an additional 186,199 shares during the period. 88.20% of the stock is currently owned by institutional investors.

Insider Activity at Veeva Systems

In related news, Director Timothy S. Cabral sold 15,000 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $226.04, for a total value of $3,390,600.00. Following the completion of the sale, the director now directly owns 23,391 shares in the company, valued at $5,287,301.64. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Alan Mateo sold 3,391 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $200.86, for a total value of $681,116.26. Following the sale, the executive vice president now directly owns 21,983 shares in the company, valued at $4,415,505.38. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Timothy S. Cabral sold 15,000 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $226.04, for a total value of $3,390,600.00. Following the transaction, the director now owns 23,391 shares of the company’s stock, valued at approximately $5,287,301.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,989 shares of company stock worth $4,818,013. Company insiders own 10.98% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on VEEV shares. Stifel Nicolaus increased their price objective on shares of Veeva Systems from $205.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Piper Sandler increased their price target on Veeva Systems from $220.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st. UBS Group raised their price target on Veeva Systems from $185.00 to $235.00 and gave the company a “neutral” rating in a report on Monday, February 26th. Barclays upped their price objective on Veeva Systems from $240.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st. Finally, Robert W. Baird lifted their target price on Veeva Systems from $245.00 to $251.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, Veeva Systems currently has a consensus rating of “Moderate Buy” and an average price target of $234.90.

Veeva Systems Price Performance

Shares of Veeva Systems stock traded up $1.89 during trading hours on Tuesday, reaching $200.95. The company’s stock had a trading volume of 902,714 shares, compared to its average volume of 981,032. The firm has a 50 day moving average price of $220.53 and a 200-day moving average price of $202.75. The stock has a market cap of $32.42 billion, a P/E ratio of 62.41, a P/E/G ratio of 2.00 and a beta of 0.74. Veeva Systems Inc. has a one year low of $160.21 and a one year high of $236.90.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Thursday, February 29th. The technology company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.11. The company had revenue of $630.62 million for the quarter, compared to analysts’ expectations of $620.75 million. Veeva Systems had a return on equity of 11.26% and a net margin of 22.24%. As a group, sell-side analysts forecast that Veeva Systems Inc. will post 4.11 EPS for the current fiscal 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.