111 Capital acquired a new stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 3,224 shares of the technology company's stock, valued at approximately $678,000.
Other large investors also recently bought and sold shares of the company. Centricity Wealth Management LLC purchased a new position in Veeva Systems during the 4th quarter valued at $25,000. Smithfield Trust Co lifted its holdings in shares of Veeva Systems by 145.5% in the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company's stock worth $27,000 after buying an additional 80 shares during the period. Avion Wealth lifted its holdings in shares of Veeva Systems by 635.0% in the 4th quarter. Avion Wealth now owns 147 shares of the technology company's stock worth $30,000 after buying an additional 127 shares during the period. Venturi Wealth Management LLC lifted its holdings in shares of Veeva Systems by 2,716.7% in the 4th quarter. Venturi Wealth Management LLC now owns 169 shares of the technology company's stock worth $36,000 after buying an additional 163 shares during the period. Finally, Promus Capital LLC purchased a new stake in shares of Veeva Systems in the 4th quarter worth $36,000. Hedge funds and other institutional investors own 88.20% of the company's stock.
Veeva Systems Stock Performance
NYSE:VEEV traded up $0.99 during mid-day trading on Friday, hitting $280.03. 3,578,987 shares of the company's stock traded hands, compared to its average volume of 1,147,282. The company has a fifty day moving average of $230.48 and a 200 day moving average of $227.86. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $285.70. The company has a market capitalization of $45.56 billion, a P/E ratio of 69.14, a P/E/G ratio of 1.89 and a beta of 0.96.
Veeva Systems (NYSE:VEEV - Get Free Report) last announced its earnings results 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 return on equity of 13.56% and a net margin of 25.07%. The company had revenue of $759.04 million for the quarter, compared to analyst estimates of $728.38 million. During the same period in the prior year, the company posted $1.50 EPS. The firm's quarterly revenue was up 16.7% compared to the same quarter last year. On average, research analysts expect that Veeva Systems Inc. will post 4.35 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several equities research analysts have weighed in on the company. Stifel Nicolaus upped their target price on Veeva Systems from $272.00 to $295.00 and gave the stock a "buy" rating in a report on Thursday. Scotiabank upped their target price on Veeva Systems from $240.00 to $245.00 and gave the stock a "sector perform" rating in a report on Thursday, March 6th. Robert W. Baird upped their target price on Veeva Systems from $283.00 to $285.00 and gave the stock an "outperform" rating in a report on Thursday, March 6th. UBS Group upped their target price on Veeva Systems from $250.00 to $285.00 and gave the stock a "neutral" rating in a report on Thursday. Finally, Barclays upped their target price on Veeva Systems from $285.00 to $300.00 and gave the stock an "overweight" rating in a report on Thursday. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $269.00.
Get Our Latest Stock Analysis on Veeva Systems
Insider Activity at Veeva Systems
In other news, SVP Jonathan Faddis sold 787 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total value of $178,019.40. Following the transaction, the senior vice president now directly owns 8,668 shares of the company's stock, valued at approximately $1,960,701.60. This represents a 8.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Timothy S. Cabral sold 3,882 shares of the stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $216.83, for a total value of $841,734.06. Following the completion of the transaction, the director now directly owns 5,500 shares in the company, valued at $1,192,565. This represents a 41.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,869 shares of company stock valued at $1,284,917 in the last ninety days. Corporate insiders own 10.30% of the company's stock.
Veeva Systems Profile
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Free Report)
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.
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