GSA Capital Partners LLP Makes New $535,000 Investment in Veeva Systems Inc. (NYSE:VEEV)

GSA Capital Partners LLP acquired a new position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 2,311 shares of the technology company's stock, valued at approximately $535,000.

Other large investors also recently bought and sold shares of the company. Johnson Financial Group Inc. grew its position in shares of Veeva Systems by 22.7% in the fourth quarter. Johnson Financial Group Inc. now owns 238 shares of the technology company's stock valued at $56,000 after purchasing an additional 44 shares in the last quarter. Marks Group Wealth Management Inc grew its position in shares of Veeva Systems by 3.3% in the first quarter. Marks Group Wealth Management Inc now owns 1,427 shares of the technology company's stock valued at $331,000 after purchasing an additional 46 shares in the last quarter. Colonial Trust Co SC grew its position in shares of Veeva Systems by 30.3% in the fourth quarter. Colonial Trust Co SC now owns 241 shares of the technology company's stock valued at $51,000 after purchasing an additional 56 shares in the last quarter. CoreCap Advisors LLC grew its position in shares of Veeva Systems by 31.7% in the fourth quarter. CoreCap Advisors LLC now owns 249 shares of the technology company's stock valued at $52,000 after purchasing an additional 60 shares in the last quarter. Finally, Crestwood Advisors Group LLC grew its position in shares of Veeva Systems by 3.7% in the first quarter. Crestwood Advisors Group LLC now owns 1,690 shares of the technology company's stock valued at $391,000 after purchasing an additional 61 shares in the last quarter. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Needham & Company LLC increased their price objective on Veeva Systems from $270.00 to $300.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. Piper Sandler increased their price objective on Veeva Systems from $255.00 to $325.00 and gave the stock an "overweight" rating in a research report on Thursday, May 29th. KeyCorp increased their price objective on Veeva Systems from $285.00 to $325.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. UBS Group increased their price objective on Veeva Systems from $250.00 to $285.00 and gave the stock a "neutral" rating in a research report on Thursday, May 29th. Finally, Truist Financial increased their price objective on Veeva Systems from $217.00 to $230.00 and gave the stock a "hold" rating in a research report on Thursday, May 29th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $274.17.

Insider Activity at Veeva Systems

In related news, Director Timothy S. Cabral sold 315 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $289.72, for a total value of $91,261.80. Following the transaction, the director owned 5,500 shares of the company's stock, valued at $1,593,460. This represents a 5.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Priscilla Hung sold 172 shares of the firm's stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $283.00, for a total value of $48,676.00. Following the transaction, the director directly owned 4,137 shares in the company, valued at approximately $1,170,771. The trade was a 3.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,378 shares of company stock valued at $394,217 over the last quarter. 10.30% of the stock is owned by insiders.

Veeva Systems Price Performance

NYSE:VEEV opened at $285.52 on Tuesday. The firm has a market capitalization of $46.66 billion, a PE ratio of 60.49, a price-to-earnings-growth ratio of 2.23 and a beta of 0.95. The business's fifty day moving average price is $281.05 and its 200 day moving average price is $247.68. Veeva Systems Inc. has a 12 month low of $177.41 and a 12 month high of $296.72.

Veeva Systems (NYSE:VEEV - Get Free Report) last posted its earnings results on Wednesday, May 28th. The technology company reported $1.97 EPS for the quarter, beating the consensus estimate of $1.74 by $0.23. The firm had revenue of $759.04 million for the quarter, compared to analyst estimates of $728.38 million. Veeva Systems had a return on equity of 13.96% and a net margin of 27.34%. Veeva Systems's revenue for the quarter was up 16.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.50 earnings per share. As a group, equities analysts anticipate 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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