Sapient Capital LLC Invests $894,000 in Veeva Systems Inc. (NYSE:VEEV)

Sapient Capital LLC purchased a new position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 4,645 shares of the technology company's stock, valued at approximately $894,000.

Several other large investors also recently modified their holdings of the stock. Sequoia Financial Advisors LLC boosted its holdings in Veeva Systems by 703.8% in the 4th quarter. Sequoia Financial Advisors LLC now owns 15,594 shares of the technology company's stock worth $3,002,000 after buying an additional 13,654 shares during the period. Nordea Investment Management AB boosted its holdings in Veeva Systems by 5.2% in the 4th quarter. Nordea Investment Management AB now owns 163,247 shares of the technology company's stock worth $31,730,000 after buying an additional 8,007 shares during the period. ICICI Prudential Asset Management Co Ltd boosted its holdings in Veeva Systems by 13.1% in the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 49,140 shares of the technology company's stock worth $9,460,000 after buying an additional 5,674 shares during the period. Lecap Asset Management Ltd. bought a new position in Veeva Systems in the 4th quarter worth approximately $2,668,000. Finally, DekaBank Deutsche Girozentrale boosted its holdings in Veeva Systems by 26.3% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 98,377 shares of the technology company's stock worth $18,953,000 after buying an additional 20,488 shares during the period. Hedge funds and other institutional investors own 88.20% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. StockNews.com raised shares of Veeva Systems from a "hold" rating to a "buy" rating in a report on Friday, April 12th. Stifel Nicolaus raised their price target on shares of Veeva Systems from $205.00 to $250.00 and gave the company a "buy" rating in a report on Friday, March 1st. JPMorgan Chase & Co. raised their price target on shares of Veeva Systems from $183.00 to $222.00 and gave the company a "neutral" rating in a report on Wednesday, March 13th. Truist Financial raised their price target on shares of Veeva Systems from $187.00 to $203.00 and gave the company a "hold" rating in a report on Friday, March 1st. Finally, Oppenheimer reissued an "outperform" rating and issued a $225.00 price target on shares of Veeva Systems in a report on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $234.90.

Insider Buying and Selling

In related news, Director Timothy S. Cabral sold 15,000 shares of the business's stock in a transaction dated 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 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Alan Mateo sold 3,391 shares of the company's stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $200.86, for a total value of $681,116.26. Following the transaction, the executive vice president now owns 21,983 shares in the company, valued at $4,415,505.38. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Timothy S. Cabral sold 15,000 shares of the company's 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 completion of the transaction, the director now owns 23,391 shares in the company, valued at approximately $5,287,301.64. The disclosure for this sale can be found here. Insiders have sold 21,989 shares of company stock valued at $4,818,013 over the last quarter. Corporate insiders own 10.98% of the company's stock.

Veeva Systems Stock Up 1.0 %

Shares of VEEV traded up $2.02 during trading hours on Friday, reaching $203.45. 646,523 shares of the company traded hands, compared to its average volume of 884,814. The company's fifty day moving average price is $217.38 and its two-hundred day moving average price is $202.07. The company has a market capitalization of $32.82 billion, a price-to-earnings ratio of 63.18, a price-to-earnings-growth ratio of 2.05 and a beta of 0.76. 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 announced its 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 firm had revenue of $630.62 million for 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%. On average, analysts expect that Veeva Systems Inc. will post 4.11 EPS for the current year.

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.