Donoghue Forlines LLC Acquires 360 Shares of Veeva Systems Inc. (NYSE:VEEV)

Donoghue Forlines LLC increased its holdings in Veeva Systems Inc. (NYSE:VEEV) by 23.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,918 shares of the technology company’s stock after purchasing an additional 360 shares during the period. Donoghue Forlines LLC’s holdings in Veeva Systems were worth $444,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of VEEV. American Century Companies Inc. increased its position in Veeva Systems by 1.5% in the third quarter. American Century Companies Inc. now owns 199,714 shares of the technology company’s stock worth $40,632,000 after purchasing an additional 3,040 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its position in Veeva Systems by 12.1% during the third quarter. B. Riley Wealth Advisors Inc. now owns 4,887 shares of the technology company’s stock valued at $994,000 after acquiring an additional 526 shares during the last quarter. DNB Asset Management AS increased its position in Veeva Systems by 3.9% during the fourth quarter. DNB Asset Management AS now owns 27,650 shares of the technology company’s stock valued at $5,323,000 after acquiring an additional 1,050 shares during the last quarter. Exchange Traded Concepts LLC increased its position in Veeva Systems by 24.2% during the fourth quarter. Exchange Traded Concepts LLC now owns 18,565 shares of the technology company’s stock valued at $3,574,000 after acquiring an additional 3,616 shares during the last quarter. Finally, Diversified Trust Co increased its position in Veeva Systems by 3.5% during the fourth quarter. Diversified Trust Co now owns 9,222 shares of the technology company’s stock valued at $1,775,000 after acquiring an additional 309 shares during the last quarter. Institutional investors own 88.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. BTIG Research initiated coverage on shares of Veeva Systems in a research report on Tuesday, July 9th. They set a “buy” rating and a $240.00 price objective on the stock. Truist Financial cut their price target on shares of Veeva Systems from $203.00 to $197.00 and set a “hold” rating on the stock in a report on Friday, June 14th. Needham & Company LLC restated a “buy” rating and issued a $260.00 price target on shares of Veeva Systems in a report on Monday. Morgan Stanley cut their price target on shares of Veeva Systems from $210.00 to $173.00 and set an “underweight” rating on the stock in a report on Friday, May 31st. Finally, Piper Sandler cut their price target on shares of Veeva Systems from $235.00 to $225.00 and set an “overweight” rating on the stock in a report on Friday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $228.05.

Insider Activity at Veeva Systems

In related news, CFO Timothy S. Cabral sold 15,000 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $184.33, for a total value of $2,764,950.00. Following the transaction, the chief financial officer now owns 8,391 shares in the company, valued at approximately $1,546,713.03. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, EVP Alan Mateo sold 3,391 shares of the firm’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 transaction of $681,116.26. Following the sale, the executive vice president now owns 21,983 shares of the company’s stock, valued at approximately $4,415,505.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Timothy S. Cabral sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $184.33, for a total transaction of $2,764,950.00. Following the sale, the chief financial officer now directly owns 8,391 shares in the company, valued at approximately $1,546,713.03. The disclosure for this sale can be found here. 10.50% of the stock is currently owned by insiders.

Veeva Systems Stock Up 0.7 %

Shares of Veeva Systems stock traded up $1.25 during midday trading on Tuesday, hitting $186.99. The company had a trading volume of 121,115 shares, compared to its average volume of 984,478. The stock has a market cap of $30.23 billion, a price-to-earnings ratio of 54.78, a PEG ratio of 1.84 and a beta of 0.80. The company has a fifty day simple moving average of $190.88 and a 200 day simple moving average of $205.01. Veeva Systems Inc. has a 12-month low of $162.72 and a 12-month high of $236.90.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Thursday, May 30th. The technology company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.93 by $0.10. The firm had revenue of $650.35 million during the quarter, compared to analyst estimates of $641.73 million. Veeva Systems had a net margin of 22.34% and a return on equity of 12.74%. As a group, analysts expect that Veeva Systems Inc. will post 4.19 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.