Nisa Investment Advisors LLC Has $6.07 Million Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Nisa Investment Advisors LLC lifted its holdings in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 43.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,517 shares of the technology company's stock after acquiring an additional 9,490 shares during the period. Nisa Investment Advisors LLC's holdings in Veeva Systems were worth $6,068,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of VEEV. Vanguard Group Inc. increased its position in shares of Veeva Systems by 1.0% during the first quarter. Vanguard Group Inc. now owns 12,888,204 shares of the technology company's stock valued at $2,738,229,000 after acquiring an additional 132,560 shares during the last quarter. Alliancebernstein L.P. increased its position in shares of Veeva Systems by 4.3% during the 2nd quarter. Alliancebernstein L.P. now owns 7,779,200 shares of the technology company's stock valued at $1,538,181,000 after purchasing an additional 323,959 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its stake in shares of Veeva Systems by 7.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,061,137 shares of the technology company's stock worth $655,387,000 after purchasing an additional 279,628 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Veeva Systems by 9.6% in the 3rd quarter. Wellington Management Group LLP now owns 3,315,304 shares of the technology company's stock worth $674,499,000 after buying an additional 289,133 shares during the last quarter. Finally, State Street Corp increased its holdings in Veeva Systems by 2.0% during the first quarter. State Street Corp now owns 2,929,979 shares of the technology company's stock worth $538,496,000 after buying an additional 58,544 shares during the last quarter. Institutional investors own 88.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Oppenheimer reissued an "outperform" rating and set a $225.00 price objective on shares of Veeva Systems in a report on Thursday, February 22nd. Stifel Nicolaus boosted their price objective on shares of Veeva Systems from $205.00 to $250.00 and gave the company a "buy" rating in a research report on Friday, March 1st. UBS Group upped their target price on Veeva Systems from $185.00 to $235.00 and gave the company a "neutral" rating in a report on Monday, February 26th. Piper Sandler boosted their price objective on shares of Veeva Systems from $220.00 to $245.00 and gave the company an "overweight" rating in a research report on Friday, March 1st. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $250.00 target price on shares of Veeva Systems in a research report on Wednesday, March 27th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, Veeva Systems currently has a consensus rating of "Moderate Buy" and an average price target of $234.90.

Veeva Systems Trading Up 0.1 %

Shares of Veeva Systems stock traded up $0.27 on Thursday, hitting $211.19. 906,913 shares of the company traded hands, compared to its average volume of 981,992. Veeva Systems Inc. has a 52 week low of $160.21 and a 52 week high of $236.90. The company has a market cap of $34.07 billion, a PE ratio of 65.59, a PEG ratio of 2.17 and a beta of 0.74. The stock's 50 day moving average price is $222.40 and its 200-day moving average price is $202.85.

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

Insider Activity at Veeva Systems

In related news, Director Timothy S. Cabral sold 15,000 shares of the business's stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $226.04, for a total transaction of $3,390,600.00. Following the completion of the transaction, the director now directly owns 23,391 shares in the company, valued at $5,287,301.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Veeva Systems news, Director Timothy S. Cabral sold 15,000 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $226.04, for a total transaction of $3,390,600.00. Following the transaction, the director now owns 23,391 shares in the company, valued at $5,287,301.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Alan Mateo sold 910 shares of Veeva Systems stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $204.72, for a total transaction of $186,295.20. Following the completion of the sale, the executive vice president now owns 21,983 shares in the company, valued at approximately $4,500,359.76. The disclosure for this sale can be found here. Insiders have sold a total of 20,148 shares of company stock valued at $4,451,150 in the last ninety days. Company insiders own 10.98% of the company's stock.

About Veeva Systems

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.