Migdal Insurance & Financial Holdings Ltd. Takes Position in Veeva Systems Inc. (NYSE:VEEV)

Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Veeva Systems Inc. (NYSE:VEEV) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 304 shares of the technology company’s stock, valued at approximately $56,000.

Other large investors have also bought and sold shares of the company. Facet Wealth Inc. increased its holdings in shares of Veeva Systems by 3.2% in the fourth quarter. Facet Wealth Inc. now owns 1,542 shares of the technology company’s stock worth $323,000 after acquiring an additional 48 shares in the last quarter. Western Pacific Wealth Management LP raised its holdings in Veeva Systems by 23.3% during the 1st quarter. Western Pacific Wealth Management LP now owns 307 shares of the technology company’s stock worth $71,000 after buying an additional 58 shares during the period. Yousif Capital Management LLC boosted its holdings in shares of Veeva Systems by 3.5% in the fourth quarter. Yousif Capital Management LLC now owns 1,777 shares of the technology company’s stock valued at $342,000 after buying an additional 60 shares during the period. Quadrant Capital Group LLC increased its position in shares of Veeva Systems by 14.7% during the fourth quarter. Quadrant Capital Group LLC now owns 530 shares of the technology company’s stock worth $102,000 after acquiring an additional 68 shares in the last quarter. Finally, Simplicity Wealth LLC lifted its position in Veeva Systems by 1.7% in the 2nd quarter. Simplicity Wealth LLC now owns 4,029 shares of the technology company’s stock valued at $737,000 after acquiring an additional 69 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Veeva Systems news, CFO Timothy S. Cabral sold 15,000 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was 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 $1,546,713.03. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Veeva Systems news, CFO Timothy S. Cabral sold 15,000 shares of the business’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 completion of the sale, the chief financial officer now directly owns 8,391 shares of the company’s stock, valued at approximately $1,546,713.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jonathan Faddis sold 2,353 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $200.00, for a total value of $470,600.00. Following the completion of the transaction, the senior vice president now owns 9,035 shares in the company, valued at approximately $1,807,000. The disclosure for this sale can be found here. 10.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Bank of America increased their price objective on Veeva Systems from $204.00 to $240.00 and gave the stock a “neutral” rating in a report on Thursday. Stifel Nicolaus decreased their price objective on Veeva Systems from $250.00 to $210.00 and set a “buy” rating for the company in a report on Friday, May 31st. Raymond James upped their target price on Veeva Systems from $230.00 to $235.00 and gave the stock an “outperform” rating in a report on Thursday. BTIG Research started coverage on shares of Veeva Systems in a report on Tuesday, July 9th. They issued a “buy” rating and a $240.00 target price on the stock. Finally, Needham & Company LLC restated a “buy” rating and set a $260.00 target price on shares of Veeva Systems in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Veeva Systems currently has an average rating of “Moderate Buy” and an average price target of $230.13.

Veeva Systems Price Performance

NYSE VEEV traded up $2.35 on Friday, reaching $219.37. The company had a trading volume of 130,189 shares, compared to its average volume of 956,884. Veeva Systems Inc. has a fifty-two week low of $162.72 and a fifty-two week high of $236.90. The firm has a market cap of $35.46 billion, a price-to-earnings ratio of 64.01, a P/E/G ratio of 1.95 and a beta of 0.80. The business has a 50 day moving average of $187.82 and a two-hundred day moving average of $202.03.

Veeva Systems (NYSE:VEEV) last released its earnings results on Wednesday, August 28th. The technology company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.03. Veeva Systems had a net margin of 22.34% and a return on equity of 12.74%. The business had revenue of $676.18 million for the quarter, compared to analyst estimates of $667.21 million. As a group, research analysts predict that Veeva Systems Inc. will post 4.19 earnings per share for the current fiscal year.

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.