Allen Capital Group LLC Takes Position in Veeva Systems Inc. (NYSE:VEEV)

Allen Capital Group LLC acquired a new stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 7,188 shares of the technology company's stock, valued at approximately $1,384,000.

Several other institutional investors have also modified their holdings of the business. OFI Invest Asset Management bought a new stake in Veeva Systems in the 3rd quarter valued at approximately $25,000. Operose Advisors LLC bought a new stake in Veeva Systems in the 3rd quarter valued at approximately $29,000. Parkside Financial Bank & Trust increased its position in shares of Veeva Systems by 81.9% during the 3rd quarter. Parkside Financial Bank & Trust now owns 171 shares of the technology company's stock worth $35,000 after purchasing an additional 77 shares during the last quarter. Atticus Wealth Management LLC increased its position in shares of Veeva Systems by 500.0% during the 3rd quarter. Atticus Wealth Management LLC now owns 180 shares of the technology company's stock worth $37,000 after purchasing an additional 150 shares during the last quarter. Finally, First Financial Corp IN acquired a new position in shares of Veeva Systems during the 3rd quarter worth approximately $40,000. Institutional investors own 88.20% of the company's stock.

Veeva Systems Price Performance

VEEV traded down $1.24 during trading on Tuesday, hitting $200.38. The stock had a trading volume of 1,421,592 shares, compared to its average volume of 989,776. The company has a 50 day moving average price of $222.17 and a 200-day moving average price of $202.87. The firm has a market cap of $32.33 billion, a price-to-earnings ratio of 62.23, a P/E/G ratio of 2.09 and a beta of 0.74. Veeva Systems Inc. has a one year low of $160.21 and a one year 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 (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.11. The business had revenue of $630.62 million during the quarter, compared to the consensus estimate of $620.75 million. Veeva Systems had a return on equity of 11.26% and a net margin of 22.24%. As a group, sell-side analysts predict that Veeva Systems Inc. will post 4.11 EPS for the current fiscal year.

Insider Activity

In other news, Director Timothy S. Cabral sold 15,000 shares of the company's stock in a transaction 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 completion of the sale, the director now directly owns 23,391 shares in the company, valued at approximately $5,287,301.64. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Timothy S. Cabral sold 15,000 shares of the company's stock in a transaction 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 completion of the sale, the director now directly owns 23,391 shares in the company, valued at approximately $5,287,301.64. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Thomas D. Schwenger sold 1,238 shares of the company's stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $210.02, for a total value of $260,004.76. Following the sale, the chief operating officer now owns 24,342 shares of the company's stock, valued at $5,112,306.84. The disclosure for this sale can be found here. In the last three months, insiders sold 17,148 shares of company stock worth $3,836,900. 10.98% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

VEEV has been the topic of several recent analyst reports. Needham & Company LLC reaffirmed a "buy" rating and set a $260.00 price target on shares of Veeva Systems in a research report on Tuesday, April 2nd. StockNews.com raised Veeva Systems from a "hold" rating to a "buy" rating in a research report on Friday. The Goldman Sachs Group boosted their price target on Veeva Systems from $219.00 to $248.00 and gave the stock a "buy" rating in a research report on Friday, March 1st. KeyCorp boosted their price target on Veeva Systems from $232.00 to $250.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 5th. Finally, Citigroup boosted their price target on Veeva Systems from $240.00 to $264.00 and gave the stock a "buy" rating in a research report on Friday, March 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $234.90.

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.