S Bank Fund Management Ltd Invests $322,000 in Veeva Systems Inc. (NYSE:VEEV)

Key Points

• S Bank Fund Management Ltd acquired a new position in Veeva Systems Inc., purchasing 1,392 shares valued at approximately $322,000 in the first quarter.
• Veeva Systems reported earnings per share of $1.97 for the last quarter, exceeding analysts' expectations of $1.74, with a revenue of $759.04 million.
• Research analysts have generally recommended a "Moderate Buy" for Veeva Systems, with the average price target significantly raised to around $274.17.

S Bank Fund Management Ltd bought a new position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,392 shares of the technology company's stock, valued at approximately $322,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Invesco Ltd. increased its holdings in Veeva Systems by 1.4% in the 4th quarter. Invesco Ltd. now owns 169,065 shares of the technology company's stock valued at $35,546,000 after purchasing an additional 2,377 shares during the last quarter. Bessemer Group Inc. increased its holdings in Veeva Systems by 27.6% in the 4th quarter. Bessemer Group Inc. now owns 2,268 shares of the technology company's stock valued at $477,000 after purchasing an additional 491 shares during the last quarter. Townsquare Capital LLC increased its holdings in Veeva Systems by 3.1% in the 4th quarter. Townsquare Capital LLC now owns 4,912 shares of the technology company's stock valued at $1,033,000 after purchasing an additional 150 shares during the last quarter. Mariner LLC grew its stake in shares of Veeva Systems by 5.5% in the fourth quarter. Mariner LLC now owns 26,936 shares of the technology company's stock worth $5,663,000 after acquiring an additional 1,396 shares in the last quarter. Finally, Guggenheim Capital LLC grew its stake in shares of Veeva Systems by 9.8% in the fourth quarter. Guggenheim Capital LLC now owns 27,633 shares of the technology company's stock worth $5,810,000 after acquiring an additional 2,465 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company's stock.

Insider Activity at Veeva Systems

In other news, SVP Jonathan Faddis sold 720 shares of the company's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $285.62, for a total value of $205,646.40. Following the completion of the sale, the senior vice president directly owned 7,902 shares of the company's stock, valued at approximately $2,256,969.24. This represents a 8.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Priscilla Hung sold 171 shares of the company's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $284.40, for a total transaction of $48,632.40. Following the completion of the sale, the director directly owned 3,966 shares of the company's stock, valued at $1,127,930.40. The trade was a 4.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,378 shares of company stock valued at $394,217 over the last ninety days. Insiders own 10.30% of the company's stock.

Veeva Systems Stock Up 1.9%

VEEV traded up $5.20 on Friday, reaching $280.18. The company had a trading volume of 815,649 shares, compared to its average volume of 1,205,987. Veeva Systems Inc. has a 1 year low of $190.69 and a 1 year high of $296.72. The stock has a market capitalization of $45.78 billion, a PE ratio of 59.36, a P/E/G ratio of 2.22 and a beta of 0.95. The stock has a 50-day moving average price of $282.25 and a 200-day moving average price of $250.87.

Veeva Systems (NYSE:VEEV - Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The technology company reported $1.97 earnings per share for the quarter, beating analysts' consensus estimates of $1.74 by $0.23. Veeva Systems had a net margin of 27.34% and a return on equity of 13.96%. 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 company earned $1.50 earnings per share. Veeva Systems's quarterly revenue was up 16.7% compared to the same quarter last year. As a group, analysts expect that Veeva Systems Inc. will post 4.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

VEEV has been the subject of several research reports. Morgan Stanley boosted their price target on shares of Veeva Systems from $201.00 to $210.00 and gave the stock an "underweight" rating in a research note on Thursday, May 29th. Truist Financial boosted their price target on shares of Veeva Systems from $217.00 to $230.00 and gave the stock a "hold" rating in a research note on Thursday, May 29th. Piper Sandler boosted their price target on shares of Veeva Systems from $255.00 to $325.00 and gave the stock an "overweight" rating in a research note on Thursday, May 29th. Mizuho boosted their price target 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. Finally, Stifel Nicolaus boosted their price target on shares of Veeva Systems from $272.00 to $295.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $274.17.

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.