Lecap Asset Management Ltd. Makes New $2.67 Million Investment in Veeva Systems Inc. (NYSE:VEEV)

Lecap Asset Management Ltd. bought a new position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 13,857 shares of the technology company's stock, valued at approximately $2,668,000. Veeva Systems makes up about 1.0% of Lecap Asset Management Ltd.'s investment portfolio, making the stock its 11th biggest position.

Other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new position in Veeva Systems during the 4th quarter worth approximately $259,703,000. Wellington Management Group LLP lifted its stake in shares of Veeva Systems by 1,578.4% during the 1st quarter. Wellington Management Group LLP now owns 1,504,355 shares of the technology company's stock worth $319,616,000 after purchasing an additional 1,414,726 shares during the period. Invesco Ltd. lifted its stake in shares of Veeva Systems by 239.7% during the 3rd quarter. Invesco Ltd. now owns 956,355 shares of the technology company's stock worth $194,570,000 after purchasing an additional 674,785 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Veeva Systems by 34.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,045,414 shares of the technology company's stock worth $416,139,000 after buying an additional 522,257 shares during the period. Finally, Nuveen Asset Management LLC raised its position in shares of Veeva Systems by 25.0% in the 2nd quarter. Nuveen Asset Management LLC now owns 2,432,413 shares of the technology company's stock worth $480,961,000 after buying an additional 486,588 shares during the period. 88.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Timothy S. Cabral sold 15,000 shares of Veeva Systems 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 sale, the director now owns 23,391 shares of the company's stock, valued at $5,287,301.64. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Timothy S. Cabral sold 15,000 shares of the firm's stock in a transaction that occurred 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 transaction, the director now owns 23,391 shares in the company, valued at $5,287,301.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Thomas D. Schwenger sold 1,238 shares of the firm's stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $210.02, for a total transaction of $260,004.76. Following the transaction, the chief operating officer now owns 24,342 shares in the company, valued at approximately $5,112,306.84. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,148 shares of company stock valued at $3,836,900. Insiders own 10.98% of the company's stock.

Veeva Systems Stock Performance

Shares of VEEV traded down $4.45 during mid-day trading on Friday, reaching $206.74. 788,451 shares of the company's stock traded hands, compared to its average volume of 915,584. The business's 50-day moving average price is $222.40 and its 200-day moving average price is $202.89. The stock has a market capitalization of $33.35 billion, a P/E ratio of 64.20, a price-to-earnings-growth ratio of 2.13 and a beta of 0.74. Veeva Systems Inc. has a 12 month low of $160.21 and a 12 month high of $236.90.

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on VEEV. StockNews.com upgraded Veeva Systems from a "hold" rating to a "buy" rating in a research note on Friday. Robert W. Baird lifted their price target on Veeva Systems from $245.00 to $251.00 and gave the stock an "outperform" rating in a research note on Friday, March 1st. Citigroup lifted their price target on Veeva Systems from $240.00 to $264.00 and gave the stock a "buy" rating in a research note on Friday, March 1st. Oppenheimer reiterated an "outperform" rating and issued a $225.00 price target on shares of Veeva Systems in a research note on Thursday, February 22nd. Finally, UBS Group lifted their price target on Veeva Systems from $185.00 to $235.00 and gave the stock a "neutral" rating in a research note on Monday, February 26th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average 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.