Fox Run Management L.L.C. Takes Position in Veeva Systems Inc. (NYSE:VEEV)

Fox Run Management L.L.C. bought a new stake in Veeva Systems Inc. (NYSE:VEEV) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,754 shares of the technology company’s stock, valued at approximately $1,101,000.

Several other institutional investors and hedge funds have also made changes to their positions in VEEV. Invesco Ltd. boosted its stake in shares of Veeva Systems by 1.4% in the fourth quarter. Invesco Ltd. now owns 169,065 shares of the technology company’s stock valued at $35,546,000 after purchasing an additional 2,377 shares during the period. Townsquare Capital LLC boosted its stake in shares of Veeva Systems by 3.1% in the fourth quarter. Townsquare Capital LLC now owns 4,912 shares of the technology company’s stock valued at $1,033,000 after purchasing an additional 150 shares during the period. Mariner LLC boosted its stake in shares of Veeva Systems by 5.5% in the fourth quarter. Mariner LLC now owns 26,936 shares of the technology company’s stock valued at $5,663,000 after purchasing an additional 1,396 shares during the period. Guggenheim Capital LLC boosted its stake in shares of Veeva Systems by 9.8% in the fourth quarter. Guggenheim Capital LLC now owns 27,633 shares of the technology company’s stock valued at $5,810,000 after purchasing an additional 2,465 shares during the period. Finally, Evergreen Capital Management LLC boosted its stake in shares of Veeva Systems by 2.5% in the fourth quarter. Evergreen Capital Management LLC now owns 23,563 shares of the technology company’s stock valued at $4,954,000 after purchasing an additional 579 shares during the period. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on VEEV. Mizuho upped their target price on shares of Veeva Systems from $280.00 to $295.00 and gave the company an “outperform” rating in a research note on Monday, June 2nd. KeyCorp increased their price objective on shares of Veeva Systems from $285.00 to $325.00 and gave the company an “overweight” rating in a research note on Monday, July 14th. Wells Fargo & Company increased their price objective on shares of Veeva Systems from $285.00 to $300.00 and gave the company an “overweight” rating in a research note on Thursday, May 29th. Piper Sandler increased their price objective on shares of Veeva Systems from $255.00 to $325.00 and gave the company an “overweight” rating in a research note on Thursday, May 29th. Finally, Raymond James Financial increased their target price on shares of Veeva Systems from $285.00 to $310.00 and gave the stock an “outperform” rating in a report on Thursday, May 29th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $274.17.

Veeva Systems Trading Down 1.4%

Veeva Systems stock opened at $275.40 on Friday. The stock has a market cap of $45.00 billion, a price-to-earnings ratio of 58.35, a PEG ratio of 2.21 and a beta of 0.95. The company’s 50-day moving average price is $282.35 and its two-hundred day moving average price is $250.42. Veeva Systems Inc. has a 52 week low of $190.38 and a 52 week high of $296.72.

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, topping the consensus estimate 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 net margin of 27.34% and a return on equity of 13.96%. The business’s revenue was up 16.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.50 EPS. Research analysts expect that Veeva Systems Inc. will post 4.35 earnings per share for the current fiscal year.

Insider Transactions at Veeva Systems

In other news, Director Priscilla Hung sold 172 shares of Veeva Systems stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $283.00, for a total value of $48,676.00. Following the transaction, the director owned 4,137 shares of the company’s stock, valued at $1,170,771. The trade was a 3.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Timothy S. Cabral sold 315 shares of Veeva Systems stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $289.72, for a total transaction of $91,261.80. Following the completion of the transaction, the director directly owned 5,500 shares in the company, valued at $1,593,460. This represents a 5.42% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,378 shares of company stock valued at $394,217 in the last quarter. Insiders own 10.30% of the company’s stock.

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.