Veeva Systems Inc. (NYSE:VEEV) Shares Purchased by Apella Capital LLC

Apella Capital LLC grew its stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 16.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,296 shares of the technology company's stock after purchasing an additional 2,006 shares during the period. Apella Capital LLC's holdings in Veeva Systems were worth $3,103,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Venturi Wealth Management LLC boosted its holdings in Veeva Systems by 2,716.7% during the fourth quarter. Venturi Wealth Management LLC now owns 169 shares of the technology company's stock worth $36,000 after buying an additional 163 shares in the last quarter. Linonia Partnership LP lifted its position in shares of Veeva Systems by 42.1% during the 4th quarter. Linonia Partnership LP now owns 1,202,972 shares of the technology company's stock valued at $252,925,000 after acquiring an additional 356,300 shares during the period. Boston Trust Walden Corp purchased a new stake in shares of Veeva Systems during the 4th quarter worth approximately $7,964,000. William Allan Corp grew its holdings in shares of Veeva Systems by 3.8% in the 4th quarter. William Allan Corp now owns 12,860 shares of the technology company's stock worth $2,704,000 after acquiring an additional 474 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in shares of Veeva Systems by 73.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company's stock worth $536,972,000 after acquiring an additional 1,081,501 shares during the period. 88.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on VEEV. Truist Financial boosted their target price on Veeva Systems from $217.00 to $230.00 and gave the stock a "hold" rating in a research report on Thursday, May 29th. Barclays increased their price objective on shares of Veeva Systems from $285.00 to $300.00 and gave the company an "overweight" rating in a research note on Thursday, May 29th. UBS Group raised their target price 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. Needham & Company LLC upped their price target on shares of Veeva Systems from $270.00 to $300.00 and gave the company a "buy" rating in a report on Thursday, May 29th. Finally, JPMorgan Chase & Co. increased their price target on shares of Veeva Systems from $218.00 to $249.00 and gave the company a "neutral" rating in a research report on Thursday, March 20th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $269.80.

Insider Buying and Selling

In other news, insider Thomas D. Schwenger sold 1,200 shares of the stock in a transaction on Monday, April 14th. The shares were sold at an average price of $220.97, for a total value of $265,164.00. Following the completion of the sale, the insider now owns 25,889 shares of the company's stock, valued at $5,720,692.33. This represents a 4.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Timothy S. Cabral sold 3,882 shares of Veeva Systems 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 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 disclosure for this sale can be found here. In the last quarter, insiders sold 5,869 shares of company stock valued at $1,284,917. 10.30% of the stock is currently owned by corporate insiders.

Veeva Systems Price Performance

NYSE:VEEV traded up $6.42 during trading hours on Thursday, reaching $289.99. 1,998,338 shares of the company were exchanged, compared to its average volume of 1,136,710. Veeva Systems Inc. has a 52-week low of $176.41 and a 52-week high of $291.56. The stock has a 50 day simple moving average of $233.26 and a 200 day simple moving average of $229.03. The firm has a market cap of $47.18 billion, a price-to-earnings ratio of 71.60, a PEG ratio of 1.89 and a beta of 0.96.

Veeva Systems (NYSE:VEEV - Get Free Report) last issued its 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. The firm had revenue of $759.04 million for the quarter, compared to analysts' expectations of $728.38 million. Veeva Systems had a return on equity of 13.56% and a net margin of 25.07%. The firm's revenue for the quarter was up 16.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.50 earnings per share. On average, analysts predict that Veeva Systems Inc. will post 4.35 EPS for the current fiscal year.

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.