Stevens Capital Management LP Purchases New Position in Veeva Systems Inc. (NYSE:VEEV)

Stevens Capital Management LP purchased a new stake in Veeva Systems Inc. (NYSE:VEEV) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,208 shares of the technology company’s stock, valued at approximately $233,000.

Other institutional investors have also bought and sold shares of the company. Pittenger & Anderson Inc. boosted its stake in Veeva Systems by 269.3% in the fourth quarter. Pittenger & Anderson Inc. now owns 2,297 shares of the technology company’s stock worth $442,000 after purchasing an additional 1,675 shares in the last quarter. Lyell Wealth Management LP boosted its stake in Veeva Systems by 8.2% in the fourth quarter. Lyell Wealth Management LP now owns 56,893 shares of the technology company’s stock worth $10,953,000 after purchasing an additional 4,297 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its stake in Veeva Systems by 27.0% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,253 shares of the technology company’s stock worth $819,000 after purchasing an additional 904 shares in the last quarter. F M Investments LLC bought a new stake in shares of Veeva Systems during the fourth quarter worth $1,716,000. Finally, Yousif Capital Management LLC raised its position in shares of Veeva Systems by 3.5% during the fourth quarter. Yousif Capital Management LLC now owns 1,777 shares of the technology company’s stock worth $342,000 after acquiring an additional 60 shares during the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems 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 sale, the director now owns 23,391 shares of the company’s stock, valued at approximately $5,287,301.64. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, SVP Jonathan Faddis sold 3,598 shares of the firm’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $207.42, for a total transaction of $746,297.16. Following the sale, the senior vice president now owns 10,668 shares of the company’s stock, valued at approximately $2,212,756.56. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Timothy S. Cabral sold 15,000 shares of Veeva Systems stock in a transaction dated 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 transaction, the director now directly owns 23,391 shares of the company’s stock, valued at $5,287,301.64. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,989 shares of company stock valued at $4,818,013. 10.98% of the stock is currently owned by corporate insiders.

Veeva Systems Stock Performance

Shares of NYSE VEEV traded up $1.82 during trading hours on Friday, reaching $200.91. 756,180 shares of the stock were exchanged, compared to its average volume of 969,921. The firm has a market capitalization of $32.41 billion, a price-to-earnings ratio of 61.83, a P/E/G ratio of 2.03 and a beta of 0.74. Veeva Systems Inc. has a 52 week low of $160.21 and a 52 week high of $236.90. The stock’s fifty day simple moving average is $219.63 and its 200 day simple moving average is $202.71.

Veeva Systems (NYSE:VEEV) last issued its earnings results on Thursday, February 29th. The technology company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.11. The firm had revenue of $630.62 million for the quarter, compared to the consensus estimate of $620.75 million. Veeva Systems had a return on equity of 11.26% and a net margin of 22.24%. Research analysts predict that Veeva Systems Inc. will post 4.11 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on VEEV shares. KeyCorp upped their price objective on Veeva Systems from $232.00 to $250.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th. Jefferies Financial Group boosted their target price on Veeva Systems from $225.00 to $270.00 and gave the company a “buy” rating in a research note on Monday, March 4th. Citigroup boosted their target price on Veeva Systems from $240.00 to $264.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Piper Sandler boosted their target price on Veeva Systems from $220.00 to $245.00 and gave the company an “overweight” rating in a research note on Friday, March 1st. Finally, Stifel Nicolaus boosted their target price on Veeva Systems from $205.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, March 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $234.90.

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.