Vise Technologies Inc. Purchases Shares of 970 Veeva Systems Inc. (NYSE:VEEV)

Vise Technologies Inc. purchased a new position in Veeva Systems Inc. (NYSE:VEEV - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 970 shares of the technology company's stock, valued at approximately $204,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Barclays PLC boosted its stake in Veeva Systems by 18.2% during the third quarter. Barclays PLC now owns 185,206 shares of the technology company's stock valued at $38,870,000 after buying an additional 28,497 shares during the last quarter. JPMorgan Chase & Co. increased its position in Veeva Systems by 73.2% in the third quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company's stock worth $536,972,000 after purchasing an additional 1,081,501 shares during the last quarter. Blue Trust Inc. raised its stake in Veeva Systems by 28.0% during the fourth quarter. Blue Trust Inc. now owns 1,262 shares of the technology company's stock valued at $265,000 after purchasing an additional 276 shares in the last quarter. KBC Group NV increased its holdings in shares of Veeva Systems by 21.0% in the 4th quarter. KBC Group NV now owns 52,790 shares of the technology company's stock worth $11,099,000 after buying an additional 9,161 shares during the last quarter. Finally, Pacer Advisors Inc. increased its holdings in shares of Veeva Systems by 442.6% in the 4th quarter. Pacer Advisors Inc. now owns 25,902 shares of the technology company's stock worth $5,446,000 after buying an additional 21,128 shares during the last quarter. 88.20% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Timothy S. Cabral sold 3,882 shares of the business's stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $216.83, for a total transaction of $841,734.06. Following the completion of the transaction, the director now directly owns 5,500 shares of the company's stock, valued at approximately $1,192,565. The trade was a 41.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 sale, the insider now directly owns 25,889 shares in the company, valued at approximately $5,720,692.33. This trade represents a 4.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,869 shares of company stock worth $1,284,917 in the last ninety days. 10.30% of the stock is owned by corporate insiders.

Veeva Systems Stock Up 0.4%

NYSE VEEV traded up $0.99 on Friday, reaching $280.03. The stock had a trading volume of 3,578,987 shares, compared to its average volume of 1,132,660. The stock has a fifty day moving average price of $230.48 and a two-hundred day moving average price of $227.86. Veeva Systems Inc. has a 12-month low of $171.10 and a 12-month high of $285.70. The firm has a market capitalization of $45.56 billion, a price-to-earnings ratio of 69.14, a P/E/G ratio of 1.89 and a beta of 0.96.

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

Analysts Set New Price Targets

A number of brokerages have recently commented on VEEV. Needham & Company LLC lifted their target price on Veeva Systems from $270.00 to $300.00 and gave the stock a "buy" rating in a report on Thursday. Wells Fargo & Company lifted their price objective on shares of Veeva Systems from $285.00 to $300.00 and gave the stock an "overweight" rating in a research note on Thursday. Truist Financial increased their target price on shares of Veeva Systems from $217.00 to $230.00 and gave the company a "hold" rating in a research note on Thursday. Wall Street Zen upgraded shares of Veeva Systems from a "hold" rating to a "buy" rating in a report on Friday. Finally, Stifel Nicolaus upped their price target on shares of Veeva Systems from $272.00 to $295.00 and gave the company a "buy" rating in a report on Thursday. Two equities research 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 stock currently has an average rating of "Moderate Buy" and an average target price of $269.00.

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.