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Nisa Investment Advisors LLC Has $5.61 Million Stake in Veeva Systems Inc. (NYSE:VEEV)

Veeva Systems logo with Medical background

Nisa Investment Advisors LLC raised its holdings in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 25.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,238 shares of the technology company's stock after purchasing an additional 4,914 shares during the period. Nisa Investment Advisors LLC's holdings in Veeva Systems were worth $5,614,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Sowell Financial Services LLC acquired a new stake in shares of Veeva Systems during the 1st quarter valued at approximately $274,000. GAMMA Investing LLC raised its position in shares of Veeva Systems by 13.8% during the 1st quarter. GAMMA Investing LLC now owns 1,823 shares of the technology company's stock valued at $422,000 after acquiring an additional 221 shares in the last quarter. Private Trust Co. NA raised its position in shares of Veeva Systems by 35.0% during the 1st quarter. Private Trust Co. NA now owns 247 shares of the technology company's stock valued at $57,000 after acquiring an additional 64 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of Veeva Systems during the 1st quarter valued at approximately $5,876,000. Finally, Amalgamated Bank raised its position in shares of Veeva Systems by 5.0% during the 1st quarter. Amalgamated Bank now owns 10,949 shares of the technology company's stock valued at $2,536,000 after acquiring an additional 520 shares in the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Veeva Systems Stock Performance

Shares of Veeva Systems stock traded down $5.82 during trading on Friday, hitting $275.82. 1,660,228 shares of the stock traded hands, compared to its average volume of 1,169,879. The stock has a market cap of $45.07 billion, a P/E ratio of 58.44, a PEG ratio of 2.23 and a beta of 0.98. Veeva Systems Inc. has a twelve month low of $177.41 and a twelve month high of $291.69. The company has a fifty day moving average price of $266.10 and a two-hundred day moving average price of $239.37.

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, beating the consensus estimate of $1.74 by $0.23. The business 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 13.96% and a net margin of 27.34%. The firm's 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. On average, equities research analysts expect that Veeva Systems Inc. will post 4.35 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on VEEV. Raymond James Financial increased their target price on Veeva Systems from $285.00 to $310.00 and gave the stock an "outperform" rating in a research report on Thursday, May 29th. Citigroup increased their target price on Veeva Systems from $265.00 to $329.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Wells Fargo & Company increased their target price on Veeva Systems from $285.00 to $300.00 and gave the stock an "overweight" rating in a research report on Thursday, May 29th. JPMorgan Chase & Co. increased their target price on Veeva Systems from $218.00 to $249.00 and gave the stock a "neutral" rating in a research report on Thursday, March 20th. Finally, KeyCorp dropped their target price on Veeva Systems from $260.00 to $250.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have given 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 $271.04.

View Our Latest Stock Report on VEEV

Insider Buying and Selling

In related news, Director Timothy S. Cabral sold 315 shares of the business's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $289.72, for a total value of $91,261.80. Following the completion of the sale, the director directly owned 5,500 shares in the company, valued at approximately $1,593,460. The trade was a 5.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Jonathan Faddis sold 720 shares of the company's stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $285.62, for a total value of $205,646.40. Following the transaction, the senior vice president owned 7,902 shares of the company's stock, valued at approximately $2,256,969.24. This trade represents a 8.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,578 shares of company stock valued at $659,381 in the last quarter. Company insiders own 10.30% of the company's stock.

Veeva Systems Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Veeva Systems (NYSE:VEEV)

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