Harbor Investment Advisory LLC Has $471,000 Holdings in Veeva Systems Inc. (NYSE:VEEV)

Harbor Investment Advisory LLC raised its holdings in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 3,030.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,035 shares of the technology company's stock after acquiring an additional 1,970 shares during the quarter. Harbor Investment Advisory LLC's holdings in Veeva Systems were worth $471,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Leigh Baldwin & CO. LLC acquired a new stake in shares of Veeva Systems in the fourth quarter worth $685,355,000. Norges Bank acquired a new position in shares of Veeva Systems in the fourth quarter valued at $294,785,000. JPMorgan Chase & Co. raised its stake in shares of Veeva Systems by 73.2% in the third quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company's stock valued at $536,972,000 after purchasing an additional 1,081,501 shares in the last quarter. Wealthfront Advisers LLC lifted its position in Veeva Systems by 29,760.5% in the fourth quarter. Wealthfront Advisers LLC now owns 1,048,700 shares of the technology company's stock worth $220,489,000 after purchasing an additional 1,045,188 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in Veeva Systems by 36.0% during the fourth quarter. Principal Financial Group Inc. now owns 2,964,025 shares of the technology company's stock worth $623,186,000 after buying an additional 784,741 shares in the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Veeva Systems Price Performance

Veeva Systems stock traded up $6.42 during mid-day trading on Thursday, hitting $289.99. 1,998,183 shares of the company's stock traded hands, compared to its average volume of 1,136,708. The stock has a market cap of $47.18 billion, a price-to-earnings ratio of 71.60, a P/E/G ratio of 1.89 and a beta of 0.96. The firm has a 50 day simple moving average of $233.26 and a two-hundred day simple moving average of $229.03. Veeva Systems Inc. has a fifty-two week low of $176.41 and a fifty-two week high of $291.56.

Veeva Systems (NYSE:VEEV - Get Free Report) last issued its quarterly earnings data on Wednesday, May 28th. The technology company reported $1.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.74 by $0.23. The company 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.50 earnings per share. On average, research analysts anticipate 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 recently weighed in on VEEV shares. Wells Fargo & Company upped their price objective on Veeva Systems from $285.00 to $300.00 and gave the company an "overweight" rating in a research note on Thursday, May 29th. Robert W. Baird boosted 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. Citigroup raised their price target on Veeva Systems from $265.00 to $329.00 and gave the company a "buy" rating in a report on Friday, May 30th. Piper Sandler increased their target price on Veeva Systems from $255.00 to $325.00 and gave the stock an "overweight" rating in a report on Thursday, May 29th. Finally, UBS Group lifted their target price on Veeva Systems from $250.00 to $285.00 and gave the company a "neutral" rating in a research note on Thursday, May 29th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus 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 the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total transaction of $178,019.40. Following the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Timothy S. Cabral sold 3,882 shares of the business's 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 of the company's stock, valued at approximately $1,192,565. This trade represents a 41.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,869 shares of company stock valued at $1,284,917 in the last ninety days. 10.30% of the stock is currently owned by corporate insiders.

About Veeva Systems

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.