J2 Capital Management Inc Buys Shares of 1,905 Veeva Systems Inc. (NYSE:VEEV)

J2 Capital Management Inc purchased a new stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,905 shares of the technology company's stock, valued at approximately $441,000.

Several other institutional investors have also recently made changes to their positions in VEEV. T. Rowe Price Investment Management Inc. grew its stake in Veeva Systems by 3.5% in 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 last quarter. Leigh Baldwin & CO. LLC purchased a new position in Veeva Systems in the fourth quarter valued at about $685,355,000. FMR LLC grew its stake in Veeva Systems by 7.8% in the fourth quarter. FMR LLC now owns 3,213,360 shares of the technology company's stock valued at $675,609,000 after purchasing an additional 232,116 shares during the last quarter. JPMorgan Chase & Co. grew its stake in 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 last quarter. Finally, Principal Financial Group Inc. grew its stake in 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 last quarter. Hedge funds and other institutional investors own 88.20% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on VEEV shares. Robert W. Baird lifted their target price on Veeva Systems from $283.00 to $285.00 and gave the company an "outperform" rating in a research note on Thursday, March 6th. Needham & Company LLC boosted their price target on Veeva Systems from $270.00 to $300.00 and gave the stock a "buy" rating in a research note on Thursday. UBS Group boosted their price target on Veeva Systems from $250.00 to $285.00 and gave the stock a "neutral" rating in a research note on Thursday. Mizuho lifted their target price on Veeva Systems from $280.00 to $295.00 and gave the stock an "outperform" rating in a report on Monday. Finally, Wall Street Zen raised Veeva Systems from a "hold" rating to a "buy" rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $269.80.

Veeva Systems Stock Down 0.5%

Shares of Veeva Systems stock traded down $1.42 on Monday, reaching $278.28. The company's stock had a trading volume of 2,281,880 shares, compared to its average volume of 1,137,243. The company has a market capitalization of $45.28 billion, a P/E ratio of 68.71, a PEG ratio of 1.89 and a beta of 0.96. Veeva Systems Inc. has a 52-week low of $171.10 and a 52-week high of $285.70. The stock has a 50-day moving average price of $230.48 and a 200-day moving average price of $227.81.

Veeva Systems (NYSE:VEEV - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The technology company reported $1.97 EPS for the quarter, topping the consensus estimate of $1.74 by $0.23. Veeva Systems had a return on equity of 13.56% and a net margin of 25.07%. The firm had revenue of $759.04 million during the quarter, compared to analysts' expectations of $728.38 million. During the same period in the previous year, the business earned $1.50 earnings per share. The firm's revenue for the quarter was up 16.7% on a year-over-year basis. Sell-side analysts forecast that Veeva Systems Inc. will post 4.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Veeva Systems

In related news, SVP Jonathan Faddis sold 787 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total transaction of $178,019.40. Following the transaction, the senior vice president now 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Timothy S. Cabral sold 3,882 shares of the 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 sale, the director now directly owns 5,500 shares in the company, valued at $1,192,565. This represents a 41.38% 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 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.