Unique Wealth LLC Invests $274,000 in Veeva Systems Inc. (NYSE:VEEV)

Unique Wealth LLC purchased a new stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,183 shares of the technology company's stock, valued at approximately $274,000.

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

Insider Activity at Veeva Systems

In other news, Director Timothy S. Cabral sold 3,882 shares of the business's stock in a transaction on Friday, April 4th. The shares were sold at an average price of $216.83, for a total transaction of $841,734.06. Following the completion of the sale, the director now 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 legal filing with the SEC, which is available at this link. Also, SVP Jonathan Faddis sold 787 shares of the business's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total value of $178,019.40. Following the completion of the sale, the senior vice president now owns 8,668 shares in the company, 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 have sold 5,869 shares of company stock valued at $1,284,917 over the last ninety days. Insiders own 10.30% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Mizuho upped their target price on Veeva Systems from $280.00 to $295.00 and gave the stock an "outperform" rating in a research note on Monday. Barclays upped their price objective on Veeva Systems from $285.00 to $300.00 and gave the stock an "overweight" rating in a research report on Thursday, May 29th. KeyCorp dropped their target price on shares of Veeva Systems from $260.00 to $250.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Robert W. Baird lifted their price target on shares of Veeva Systems from $283.00 to $285.00 and gave the company an "outperform" rating in a report on Thursday, March 6th. Finally, Stifel Nicolaus increased their price objective on shares of Veeva Systems from $272.00 to $295.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $269.80.

Veeva Systems Stock Performance

VEEV stock opened at $289.99 on Friday. The firm has a market capitalization of $47.18 billion, a price-to-earnings ratio of 71.60, a PEG ratio of 1.89 and a beta of 0.96. The firm has a 50 day moving average price of $234.43 and a 200-day moving average price of $229.56. Veeva Systems Inc. has a 52-week low of $176.41 and a 52-week high of $291.97.

Veeva Systems (NYSE:VEEV - Get Free Report) last posted 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. The firm had revenue of $759.04 million during the quarter, compared to analyst estimates of $728.38 million. Veeva Systems had a return on equity of 13.56% and a net margin of 25.07%. Veeva Systems's quarterly revenue was up 16.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.50 EPS. As a group, sell-side analysts forecast that Veeva Systems Inc. will post 4.35 earnings per share for the current fiscal year.

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.

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