Sivia Capital Partners LLC Purchases New Position in Veeva Systems Inc. (NYSE:VEEV)

Sivia Capital Partners LLC bought a new position in Veeva Systems Inc. (NYSE:VEEV - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 958 shares of the technology company's stock, valued at approximately $222,000.

Several other large investors also recently added to or reduced their stakes in VEEV. Cardinal Capital Management boosted its holdings in Veeva Systems by 0.3% in the fourth quarter. Cardinal Capital Management now owns 15,727 shares of the technology company's stock worth $3,307,000 after purchasing an additional 44 shares in the last quarter. Johnson Financial Group Inc. boosted its stake in shares of Veeva Systems by 22.7% during the 4th quarter. Johnson Financial Group Inc. now owns 238 shares of the technology company's stock worth $56,000 after acquiring an additional 44 shares in the last quarter. Colonial Trust Co SC boosted its position in Veeva Systems by 30.3% during the fourth quarter. Colonial Trust Co SC now owns 241 shares of the technology company's stock worth $51,000 after purchasing an additional 56 shares during the period. Twin City Private Wealth LLC boosted its holdings in shares of Veeva Systems by 2.9% during the 4th quarter. Twin City Private Wealth LLC now owns 2,036 shares of the technology company's stock worth $428,000 after buying an additional 58 shares during the period. Finally, CoreCap Advisors LLC boosted its holdings in Veeva Systems by 31.7% during the fourth quarter. CoreCap Advisors LLC now owns 249 shares of the technology company's stock valued at $52,000 after acquiring an additional 60 shares during the period. 88.20% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

VEEV has been the subject of a number of research reports. UBS Group increased their price target on shares of Veeva Systems from $250.00 to $285.00 and gave the company a "neutral" rating in a report on Thursday, May 29th. JPMorgan Chase & Co. lifted their target price on shares of Veeva Systems from $218.00 to $249.00 and gave the company a "neutral" rating in a research note on Thursday, March 20th. Wall Street Zen raised Veeva Systems from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Scotiabank lifted their price target on Veeva Systems from $240.00 to $245.00 and gave the company a "sector perform" rating in a report on Thursday, March 6th. Finally, Citigroup boosted their target price on shares of Veeva Systems from $265.00 to $329.00 and gave the stock a "buy" rating in a research note on Friday, May 30th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $269.80.

Insider Transactions at Veeva Systems

In other news, insider Thomas D. Schwenger sold 1,200 shares of the firm's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $220.97, for a total transaction of $265,164.00. Following the completion of the transaction, the insider now directly owns 25,889 shares of the company's stock, valued at $5,720,692.33. This trade represents a 4.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jonathan Faddis sold 787 shares of the firm's stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 8,668 shares of the company's stock, valued at $1,960,701.60. This represents a 8.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,869 shares of company stock valued at $1,284,917 over the last quarter. Corporate insiders own 10.30% of the company's stock.

Veeva Systems Stock Down 1.7%

VEEV opened at $285.08 on Monday. Veeva Systems Inc. has a 12 month low of $176.41 and a 12 month high of $291.68. The company has a fifty day simple moving average of $235.57 and a 200 day simple moving average of $230.33. The stock has a market cap of $46.38 billion, a P/E ratio of 70.39, a P/E/G ratio of 1.89 and a beta of 0.99.

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 (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 company had revenue of $759.04 million during the quarter, compared to the consensus estimate of $728.38 million. During the same period in the prior year, the company earned $1.50 earnings per share. The company's revenue for the quarter was up 16.7% compared to the same quarter last year. On average, equities research analysts expect that Veeva Systems Inc. will post 4.35 earnings per share for the current fiscal year.

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.

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