25,369 Shares in Veeva Systems Inc. (NYSE:VEEV) Purchased by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC acquired a new position in Veeva Systems Inc. (NYSE:VEEV - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 25,369 shares of the technology company's stock, valued at approximately $5,876,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Johnson Financial Group Inc. raised its position in Veeva Systems by 22.7% in the 4th quarter. Johnson Financial Group Inc. now owns 238 shares of the technology company's stock worth $56,000 after purchasing an additional 44 shares during the period. Colonial Trust Co SC increased its position in shares of Veeva Systems by 30.3% during the fourth quarter. Colonial Trust Co SC now owns 241 shares of the technology company's stock worth $51,000 after acquiring an additional 56 shares during the period. Twin City Private Wealth LLC increased its position in shares of Veeva Systems by 2.9% during the fourth quarter. Twin City Private Wealth LLC now owns 2,036 shares of the technology company's stock worth $428,000 after acquiring an additional 58 shares during the period. CoreCap Advisors LLC increased its position in shares of Veeva Systems by 31.7% during the fourth quarter. CoreCap Advisors LLC now owns 249 shares of the technology company's stock worth $52,000 after acquiring an additional 60 shares during the period. Finally, True Wealth Design LLC increased its position in shares of Veeva Systems by 46.0% during the fourth quarter. True Wealth Design LLC now owns 203 shares of the technology company's stock worth $43,000 after acquiring an additional 64 shares during the period. 88.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on VEEV. Robert W. Baird raised their target price on shares of Veeva Systems from $283.00 to $285.00 and gave the stock an "outperform" rating in a research report on Thursday, March 6th. Truist Financial raised their target price on shares of Veeva Systems from $217.00 to $230.00 and gave the stock a "hold" rating in a research report on Thursday, May 29th. UBS Group raised their target price on shares of Veeva Systems from $250.00 to $285.00 and gave the stock a "neutral" rating in a research report on Thursday, May 29th. Mizuho raised their target price on shares of Veeva Systems from $280.00 to $295.00 and gave the stock an "outperform" rating in a research report on Monday, June 2nd. Finally, Piper Sandler raised their target price on shares of Veeva Systems from $255.00 to $325.00 and gave the stock an "overweight" rating in a research report on Thursday, May 29th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $269.80.

Insider Buying and Selling at Veeva Systems

In other news, SVP Jonathan Faddis sold 787 shares of Veeva Systems stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $226.20, for a total transaction of $178,019.40. Following the completion of the sale, the senior vice president now directly owns 8,668 shares in the company, valued at approximately $1,960,701.60. The trade was a 8.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Timothy S. Cabral sold 3,882 shares of Veeva Systems stock in a transaction on Friday, April 4th. The stock was sold at an average price of $216.83, for a total transaction of $841,734.06. Following the sale, the director now owns 5,500 shares of the company's stock, valued at $1,192,565. The trade was a 41.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,184 shares of company stock worth $1,376,179 over the last three months. Corporate insiders own 10.30% of the company's stock.

Veeva Systems Stock Down 0.8%

Shares of VEEV opened at $279.28 on Monday. The company has a market cap of $45.64 billion, a price-to-earnings ratio of 59.17, a price-to-earnings-growth ratio of 2.20 and a beta of 0.99. Veeva Systems Inc. has a twelve month low of $177.41 and a twelve month high of $291.69. The company has a 50 day moving average of $248.97 and a two-hundred day moving average of $234.18.

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 for the quarter, beating the consensus estimate of $1.74 by $0.23. The company had revenue of $759.04 million during the quarter, compared to the consensus estimate of $728.38 million. Veeva Systems had a net margin of 27.34% and a return on equity of 13.96%. Veeva Systems's revenue was up 16.7% compared to the same quarter last year. During the same period last year, the firm earned $1.50 earnings per share. On average, sell-side analysts expect that Veeva Systems Inc. will post 4.35 EPS for the current 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.

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