Peregrine Capital Management LLC Grows Position in Veeva Systems Inc. (NYSE:VEEV)

Peregrine Capital Management LLC grew its holdings in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 16.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 263,659 shares of the technology company's stock after buying an additional 37,354 shares during the period. Veeva Systems makes up 1.5% of Peregrine Capital Management LLC's investment portfolio, making the stock its 11th largest holding. Peregrine Capital Management LLC owned about 0.16% of Veeva Systems worth $50,760,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. UMB Bank n.a. boosted its holdings in shares of Veeva Systems by 2.5% during the 3rd quarter. UMB Bank n.a. now owns 2,103 shares of the technology company's stock worth $428,000 after buying an additional 51 shares in the last quarter. NewEdge Wealth LLC boosted its holdings in shares of Veeva Systems by 0.6% during the 3rd quarter. NewEdge Wealth LLC now owns 10,059 shares of the technology company's stock worth $2,047,000 after buying an additional 60 shares in the last quarter. Personal CFO Solutions LLC boosted its holdings in shares of Veeva Systems by 5.9% during the 3rd quarter. Personal CFO Solutions LLC now owns 1,091 shares of the technology company's stock worth $222,000 after buying an additional 61 shares in the last quarter. Penserra Capital Management LLC boosted its holdings in shares of Veeva Systems by 9.3% during the 4th quarter. Penserra Capital Management LLC now owns 729 shares of the technology company's stock worth $117,000 after buying an additional 62 shares in the last quarter. Finally, Toroso Investments LLC boosted its holdings in shares of Veeva Systems by 4.9% during the 3rd quarter. Toroso Investments LLC now owns 1,318 shares of the technology company's stock worth $217,000 after buying an additional 62 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Alan Mateo sold 910 shares of Veeva Systems stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $204.72, for a total value of $186,295.20. Following the completion of the sale, the executive vice president now owns 21,983 shares of the company's stock, valued at approximately $4,500,359.76. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Veeva Systems news, EVP Alan Mateo sold 910 shares of the firm's stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $204.72, for a total value of $186,295.20. Following the completion of the transaction, the executive vice president now owns 21,983 shares in the company, valued at approximately $4,500,359.76. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CMO Eleni Nitsa Zuppas sold 3,000 shares of the firm's stock in a transaction dated Friday, January 12th. The stock was sold at an average price of $204.75, for a total value of $614,250.00. Following the completion of the transaction, the chief marketing officer now owns 19,057 shares of the company's stock, valued at approximately $3,901,920.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,148 shares of company stock valued at $4,451,150. 10.98% of the stock is owned by insiders.

Veeva Systems Stock Up 0.7 %

VEEV traded up $1.57 during trading hours on Tuesday, hitting $216.54. The stock had a trading volume of 1,789,447 shares, compared to its average volume of 983,104. The company's fifty day simple moving average is $222.08 and its 200 day simple moving average is $202.64. Veeva Systems Inc. has a 1 year low of $160.21 and a 1 year high of $236.90. The stock has a market cap of $34.93 billion, a PE ratio of 67.25, a price-to-earnings-growth ratio of 2.17 and a beta of 0.74.

Veeva Systems (NYSE:VEEV - Get Free Report) last announced its quarterly earnings data on Thursday, February 29th. The technology company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.11. Veeva Systems had a return on equity of 11.26% and a net margin of 22.24%. The company had revenue of $630.62 million during the quarter, compared to analyst estimates of $620.75 million. As a group, equities analysts expect that Veeva Systems Inc. will post 4.11 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently issued reports on VEEV. Citigroup increased their target price on Veeva Systems from $240.00 to $264.00 and gave the stock a "buy" rating in a report on Friday, March 1st. StockNews.com upgraded Veeva Systems from a "hold" rating to a "buy" rating in a report on Tuesday, April 2nd. Royal Bank of Canada reiterated an "outperform" rating and issued a $250.00 target price on shares of Veeva Systems in a report on Wednesday, March 27th. Piper Sandler increased their price target on Veeva Systems from $220.00 to $245.00 and gave the company an "overweight" rating in a research report on Friday, March 1st. Finally, KeyCorp increased their price target on Veeva Systems from $232.00 to $250.00 and gave the company an "overweight" rating in a research report on Tuesday, March 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $234.90.

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.