NorthCrest Asset Manangement LLC Has $11.59 Million Stock Position in Veeva Systems Inc. (NYSE:VEEV)

NorthCrest Asset Manangement LLC boosted its stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 2.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 50,022 shares of the technology company's stock after purchasing an additional 1,241 shares during the period. NorthCrest Asset Manangement LLC's holdings in Veeva Systems were worth $11,587,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of VEEV. Liberty Capital Management Inc. lifted its position in shares of Veeva Systems by 11.8% in the first quarter. Liberty Capital Management Inc. now owns 6,579 shares of the technology company's stock valued at $1,524,000 after buying an additional 695 shares during the last quarter. Thomasville National Bank lifted its position in shares of Veeva Systems by 2.0% in the first quarter. Thomasville National Bank now owns 84,586 shares of the technology company's stock valued at $19,593,000 after buying an additional 1,625 shares during the last quarter. Fifth Third Bancorp lifted its position in shares of Veeva Systems by 5.0% in the first quarter. Fifth Third Bancorp now owns 8,970 shares of the technology company's stock valued at $2,078,000 after buying an additional 429 shares during the last quarter. Alhambra Investment Management LLC lifted its position in shares of Veeva Systems by 23.3% in the first quarter. Alhambra Investment Management LLC now owns 1,521 shares of the technology company's stock valued at $352,000 after buying an additional 287 shares during the last quarter. Finally, CX Institutional acquired a new stake in shares of Veeva Systems in the first quarter valued at approximately $308,000. 88.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Barclays lifted 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. JPMorgan Chase & Co. lifted their price target on Veeva Systems from $218.00 to $249.00 and gave the stock a "neutral" rating in a report on Thursday, March 20th. Robert W. Baird lifted their price target on Veeva Systems from $283.00 to $285.00 and gave the stock an "outperform" rating in a report on Thursday, March 6th. Piper Sandler lifted their price target on Veeva Systems from $255.00 to $325.00 and gave the stock an "overweight" rating in a report on Thursday, May 29th. Finally, Stephens reissued an "overweight" rating and set a $280.00 price target on shares of Veeva Systems in a report on Thursday, March 6th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $269.80.

Veeva Systems Stock Down 0.1%

Shares of VEEV traded down $0.34 during midday trading on Friday, hitting $281.82. The company's stock had a trading volume of 1,268,625 shares, compared to its average volume of 1,146,603. Veeva Systems Inc. has a one year low of $176.41 and a one year high of $291.69. The stock has a market capitalization of $45.85 billion, a price-to-earnings ratio of 69.59, a price-to-earnings-growth ratio of 1.89 and a beta of 0.99. The company's fifty day simple moving average is $242.24 and its two-hundred day simple moving average is $232.35.

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

Insider Buying and Selling at Veeva Systems

In other news, Director Timothy S. Cabral sold 3,882 shares of the business's stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $216.83, for a total value of $841,734.06. Following the transaction, the director now directly owns 5,500 shares of the company's stock, valued at $1,192,565. The trade was a 41.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Thomas D. Schwenger sold 1,200 shares of the business's stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $220.97, for a total value of $265,164.00. Following the completion of the transaction, the insider now directly owns 25,889 shares in the company, valued at $5,720,692.33. This represents a 4.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,184 shares of company stock worth $1,376,179. Insiders own 10.30% of the company's stock.

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.