Sivia Capital Partners LLC Makes New $222,000 Investment in Veeva Systems Inc. (NYSE:VEEV)

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

Other hedge funds have also made changes to their positions in the company. Cardinal Capital Management lifted its holdings in shares of Veeva Systems by 0.3% during 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 during the period. Johnson Financial Group Inc. raised its position 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 purchasing an additional 44 shares during the last quarter. Colonial Trust Co SC boosted its stake in shares of Veeva Systems by 30.3% in the fourth quarter. Colonial Trust Co SC now owns 241 shares of the technology company's stock worth $51,000 after acquiring an additional 56 shares during the last quarter. Twin City Private Wealth LLC grew its holdings in shares of Veeva Systems by 2.9% during the fourth 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 in the last quarter. Finally, CoreCap Advisors LLC grew its holdings in shares of Veeva Systems by 31.7% in the fourth quarter. CoreCap Advisors LLC now owns 249 shares of the technology company's stock valued at $52,000 after purchasing an additional 60 shares during the period. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Timothy S. Cabral sold 3,882 shares of Veeva Systems stock in a transaction on Friday, April 4th. The stock was sold at an average price of $216.83, for a total transaction of $841,734.06. Following the transaction, the director now owns 5,500 shares in the company, valued at $1,192,565. The trade was a 41.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jonathan Faddis sold 787 shares of the business's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $226.20, for a total transaction of $178,019.40. Following the completion of the sale, the senior vice president now owns 8,668 shares in the company, valued at approximately $1,960,701.60. This trade represents a 8.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,184 shares of company stock valued at $1,376,179 in the last quarter. 10.30% of the stock is currently owned by company insiders.

Veeva Systems Stock Performance

Shares of VEEV traded down $6.70 during midday trading on Thursday, hitting $281.85. 2,017,512 shares of the company traded hands, compared to its average volume of 1,144,505. The stock has a market cap of $45.86 billion, a price-to-earnings ratio of 69.59, a PEG ratio of 1.89 and a beta of 0.99. The firm has a 50 day moving average of $239.45 and a 200-day moving average of $231.56. Veeva Systems Inc. has a 52 week low of $176.41 and a 52 week high of $291.68.

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 (EPS) for the quarter, beating the consensus estimate 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 net margin of 25.07% and a return on equity of 13.56%. The firm's quarterly revenue was up 16.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.50 EPS. Sell-side analysts predict that Veeva Systems Inc. will post 4.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

VEEV has been the topic of several research reports. Truist Financial increased their price target on shares of Veeva Systems from $217.00 to $230.00 and gave the stock a "hold" rating in a research report on Thursday, May 29th. Robert W. Baird upped their target price on Veeva Systems from $283.00 to $285.00 and gave the company an "outperform" rating in a research report on Thursday, March 6th. JPMorgan Chase & Co. increased their price objective on Veeva Systems from $218.00 to $249.00 and gave the stock a "neutral" rating in a research report on Thursday, March 20th. UBS Group lifted their price objective on Veeva Systems from $250.00 to $285.00 and gave the company a "neutral" rating in a report on Thursday, May 29th. Finally, KeyCorp reduced their price objective on shares of Veeva Systems from $260.00 to $250.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, Veeva Systems presently has a consensus rating of "Moderate Buy" and an average target price of $269.80.

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.