Gateway Investment Advisers LLC Purchases 2,472 Shares of Veeva Systems Inc. (NYSE:VEEV)

Gateway Investment Advisers LLC boosted its holdings in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 6.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 39,362 shares of the technology company's stock after acquiring an additional 2,472 shares during the quarter. Gateway Investment Advisers LLC's holdings in Veeva Systems were worth $9,117,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Centricity Wealth Management LLC bought a new stake in shares of Veeva Systems during the 4th quarter worth about $25,000. Smithfield Trust Co lifted its stake in shares of Veeva Systems by 145.5% in the fourth 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 last quarter. Avion Wealth boosted its holdings in shares of Veeva Systems by 635.0% during 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 grew its stake in Veeva Systems by 2,716.7% in the 4th quarter. Venturi Wealth Management LLC now owns 169 shares of the technology company's stock valued at $36,000 after buying an additional 163 shares during the last quarter. Finally, Promus Capital LLC acquired a new position in Veeva Systems during the 4th quarter worth $36,000. Institutional investors 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 3,882 shares of the company's stock in a transaction on Friday, April 4th. The shares were sold at an average price of $216.83, for a total transaction of $841,734.06. Following the completion of the sale, the director now owns 5,500 shares in the company, valued at approximately $1,192,565. The trade was a 41.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Jonathan Faddis sold 787 shares of the firm's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total value of $178,019.40. Following the completion of the transaction, the senior vice president now owns 8,668 shares in the company, valued at $1,960,701.60. This represents a 8.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,869 shares of company stock worth $1,284,917. Insiders own 10.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on VEEV shares. Barclays lifted their price objective on Veeva Systems from $285.00 to $300.00 and gave the stock an "overweight" rating in a research note on Thursday, May 29th. Wells Fargo & Company upped their price target on Veeva Systems from $285.00 to $300.00 and gave the stock an "overweight" rating in a report on Thursday, May 29th. Mizuho raised their price objective on shares of Veeva Systems from $280.00 to $295.00 and gave the stock an "outperform" rating in a research note on Monday, June 2nd. Raymond James upped their target price on shares of Veeva Systems from $285.00 to $310.00 and gave the company an "outperform" rating in a research note on Thursday, May 29th. Finally, Morgan Stanley increased their price target on shares of Veeva Systems from $201.00 to $210.00 and gave the company an "underweight" rating in a report on Thursday, May 29th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $269.80.

Veeva Systems Stock Performance

Veeva Systems stock opened at $285.08 on Friday. The business's fifty day moving average is $235.57 and its two-hundred day moving average is $230.21. The firm has a market cap of $46.38 billion, a P/E ratio of 70.39, a P/E/G ratio of 1.89 and a beta of 0.99. Veeva Systems Inc. has a 52 week low of $176.41 and a 52 week high of $291.68.

Veeva Systems (NYSE:VEEV - Get Free Report) last posted its quarterly earnings data 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. Veeva Systems had a net margin of 25.07% and a return on equity of 13.56%. The firm had revenue of $759.04 million during the quarter, compared to analysts' expectations of $728.38 million. During the same quarter last year, the company posted $1.50 EPS. The company's quarterly revenue was up 16.7% compared to the same quarter last year. On average, equities research analysts predict that Veeva Systems Inc. will post 4.35 earnings per share 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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