Veeva Systems Inc. (NYSE:VEEV) Stake Raised by Motley Fool Asset Management LLC

Motley Fool Asset Management LLC grew its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 6.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,776 shares of the technology company’s stock after buying an additional 282 shares during the period. Motley Fool Asset Management LLC’s holdings in Veeva Systems were worth $919,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. OFI Invest Asset Management bought a new stake in Veeva Systems during the third quarter worth approximately $25,000. Operose Advisors LLC acquired a new position in Veeva Systems in the third quarter worth approximately $29,000. Parkside Financial Bank & Trust grew its position in Veeva Systems by 81.9% in the third quarter. Parkside Financial Bank & Trust now owns 171 shares of the technology company’s stock worth $35,000 after buying an additional 77 shares during the last quarter. Atticus Wealth Management LLC grew its position in Veeva Systems by 500.0% in the third quarter. Atticus Wealth Management LLC now owns 180 shares of the technology company’s stock worth $37,000 after buying an additional 150 shares during the last quarter. Finally, Nkcfo LLC grew its position in Veeva Systems by 54.7% during the 3rd quarter. Nkcfo LLC now owns 232 shares of the technology company’s stock worth $47,000 after purchasing an additional 82 shares in the last quarter. Institutional investors own 88.20% of the company’s stock.

Insiders Place Their Bets

In other Veeva Systems news, EVP Alan Mateo sold 3,391 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $200.86, for a total transaction of $681,116.26. Following the sale, the executive vice president now directly owns 21,983 shares of the company’s stock, valued at $4,415,505.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Timothy S. Cabral sold 15,000 shares of the stock in a transaction that occurred 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 directly owns 23,391 shares in the company, valued at $5,287,301.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Alan Mateo sold 3,391 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $200.86, for a total transaction of $681,116.26. Following the completion of the transaction, the executive vice president now owns 21,983 shares in the company, valued at $4,415,505.38. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,989 shares of company stock valued at $4,818,013. 10.98% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. KeyCorp boosted their price target on shares of Veeva Systems from $232.00 to $250.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th. JPMorgan Chase & Co. lifted their price objective on shares of Veeva Systems from $183.00 to $222.00 and gave the company a “neutral” rating in a research note on Wednesday, March 13th. Truist Financial lifted their price objective on shares of Veeva Systems from $187.00 to $203.00 and gave the company a “hold” rating in a research note on Friday, March 1st. Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 price objective on shares of Veeva Systems in a research note on Tuesday, April 2nd. Finally, Oppenheimer reissued an “outperform” rating and set a $225.00 target price on shares of Veeva Systems in a research report on Thursday, February 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $234.90.

Veeva Systems Trading Up 0.9 %

NYSE VEEV traded up $1.82 on Friday, reaching $200.91. The company’s stock had a trading volume of 756,180 shares, compared to its average volume of 969,921. The firm has a market cap of $32.41 billion, a PE ratio of 62.39, a price-to-earnings-growth ratio of 2.03 and a beta of 0.74. The business has a 50-day moving average price of $219.27 and a 200 day moving average price of $202.63. Veeva Systems Inc. has a 52 week low of $160.21 and a 52 week high of $236.90.

Veeva Systems (NYSE:VEEV) last posted 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 business had revenue of $630.62 million for the quarter, compared to analysts’ expectations of $620.75 million. Veeva Systems had a net margin of 22.24% and a return on equity of 11.26%. Analysts anticipate that Veeva Systems Inc. will post 4.11 earnings per share for the current fiscal year.

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.