Victory Capital Management Inc. Buys 12,535 Shares of Veeva Systems Inc. (NYSE:VEEV)

Victory Capital Management Inc. raised its stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 6.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 201,806 shares of the technology company's stock after acquiring an additional 12,535 shares during the quarter. Victory Capital Management Inc. owned approximately 0.13% of Veeva Systems worth $38,852,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in VEEV. Invesco Ltd. raised its holdings in shares of Veeva Systems by 239.7% in the third quarter. Invesco Ltd. now owns 956,355 shares of the technology company's stock valued at $194,570,000 after buying an additional 674,785 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Veeva Systems by 34.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,045,414 shares of the technology company's stock worth $416,139,000 after purchasing an additional 522,257 shares during the period. Van ECK Associates Corp increased its position in Veeva Systems by 22.6% in the fourth quarter. Van ECK Associates Corp now owns 1,775,065 shares of the technology company's stock worth $341,736,000 after purchasing an additional 327,662 shares during the period. Wellington Management Group LLP increased its position in Veeva Systems by 9.6% in the third quarter. Wellington Management Group LLP now owns 3,315,304 shares of the technology company's stock worth $674,499,000 after purchasing an additional 289,133 shares during the period. Finally, FMR LLC increased its position in Veeva Systems by 15.4% in the third quarter. FMR LLC now owns 1,833,135 shares of the technology company's stock worth $372,951,000 after purchasing an additional 244,599 shares during the period. 88.20% of the stock is owned by institutional investors.

Insider Buying and Selling at Veeva Systems

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 stock was sold at an average price of $200.86, for a total transaction of $681,116.26. Following the sale, the executive vice president now owns 21,983 shares in the company, valued at approximately $4,415,505.38. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, SVP Jonathan Faddis sold 3,598 shares of the company's stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $207.42, for a total transaction of $746,297.16. Following the sale, the senior vice president now owns 10,668 shares in the company, valued at approximately $2,212,756.56. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Alan Mateo sold 3,391 shares of the company's stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $200.86, for a total value of $681,116.26. Following the sale, the executive vice president now owns 21,983 shares in the company, valued at approximately $4,415,505.38. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,989 shares of company stock worth $4,818,013. Corporate insiders own 10.50% of the company's stock.

Veeva Systems Stock Performance

NYSE VEEV traded up $2.17 during trading on Tuesday, hitting $205.31. The stock had a trading volume of 821,532 shares, compared to its average volume of 946,018. The company has a market capitalization of $33.12 billion, a PE ratio of 63.76, a P/E/G ratio of 2.05 and a beta of 0.76. The company's 50-day moving average price is $216.61 and its two-hundred day moving average price is $202.11. 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 earnings results on Thursday, February 29th. The technology company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.81 by $0.11. The firm 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%. As a group, equities analysts anticipate that Veeva Systems Inc. will post 4.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Raymond James reiterated an "outperform" rating and issued a $260.00 price objective on shares of Veeva Systems in a research report on Tuesday, March 26th. Oppenheimer restated an "outperform" rating and set a $225.00 target price on shares of Veeva Systems in a research report on Thursday, February 22nd. Piper Sandler boosted their target price on Veeva Systems from $220.00 to $245.00 and gave the stock an "overweight" rating in a research report on Friday, March 1st. Citigroup boosted their target price on Veeva Systems from $240.00 to $264.00 and gave the stock a "buy" rating in a research report on Friday, March 1st. Finally, Needham & Company LLC restated a "buy" rating and set a $260.00 target price on shares of Veeva Systems in a research report on Tuesday, April 2nd. One equities research 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 company currently has an average rating of "Moderate Buy" and an average target price of $234.90.

Veeva Systems 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.