Baer Investment Advisory LLC Takes $3.12 Million Position in Veeva Systems Inc. (NYSE:VEEV)

Baer Investment Advisory LLC acquired a new position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 14,836 shares of the technology company's stock, valued at approximately $3,119,000. Veeva Systems accounts for about 6.5% of Baer Investment Advisory LLC's holdings, making the stock its 6th biggest holding.

Other institutional investors and hedge funds also recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. boosted its stake in shares of Veeva Systems by 3.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,169,698 shares of the technology company's stock valued at $1,086,930,000 after purchasing an additional 177,201 shares during the period. Leigh Baldwin & CO. LLC purchased a new stake in Veeva Systems in the 4th quarter valued at about $685,355,000. FMR LLC boosted its position in Veeva Systems by 7.8% in the 4th quarter. FMR LLC now owns 3,213,360 shares of the technology company's stock valued at $675,609,000 after buying an additional 232,116 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Veeva Systems by 17.5% in the fourth quarter. JPMorgan Chase & Co. now owns 3,005,633 shares of the technology company's stock valued at $631,935,000 after purchasing an additional 447,041 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in shares of Veeva Systems by 36.0% in the fourth quarter. Principal Financial Group Inc. now owns 2,964,025 shares of the technology company's stock valued at $623,186,000 after purchasing an additional 784,741 shares during the period. 88.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on VEEV. 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 price objective on shares of Veeva Systems from $283.00 to $285.00 and gave the stock an "outperform" rating in a research note on Thursday, March 6th. KeyCorp lowered their price target on shares of Veeva Systems from $260.00 to $250.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Stephens reaffirmed an "overweight" rating and issued a $280.00 price target on shares of Veeva Systems in a research report on Thursday, March 6th. Finally, Morgan Stanley upped their target price on Veeva Systems from $201.00 to $210.00 and gave the stock an "underweight" 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 issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $267.52.

Insider Buying and Selling at Veeva Systems

In related news, Director Timothy S. Cabral sold 3,882 shares of the firm's stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $216.83, for a total transaction 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 trade represents a 41.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Jonathan Faddis sold 787 shares of the firm's stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 8,668 shares of the company's stock, valued at approximately $1,960,701.60. The trade was a 8.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,869 shares of company stock worth $1,284,917 in the last three months. 10.30% of the stock is owned by corporate insiders.

Veeva Systems Stock Performance

Shares of Veeva Systems stock traded up $45.30 on Thursday, hitting $279.79. The company's stock had a trading volume of 4,552,937 shares, compared to its average volume of 1,259,131. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year high of $285.70. The firm has a fifty day moving average price of $228.89 and a 200-day moving average price of $227.27. The company has a market capitalization of $45.52 billion, a price-to-earnings ratio of 69.08, a price-to-earnings-growth ratio of 1.89 and a beta of 0.96.

Veeva Systems (NYSE:VEEV - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The technology company reported $1.97 EPS for the quarter, beating analysts' consensus estimates of $1.74 by $0.23. The business had revenue of $759.04 million during the quarter, compared to analysts' expectations of $728.38 million. Veeva Systems had a return on equity of 13.56% and a net margin of 25.07%. The business's revenue was up 16.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.50 earnings per share. As a group, analysts forecast 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.