Quarry LP Increases Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Quarry LP boosted its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 39.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 421 shares of the technology company’s stock after acquiring an additional 119 shares during the period. Quarry LP’s holdings in Veeva Systems were worth $77,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Western Pacific Wealth Management LP boosted its holdings in Veeva Systems by 23.3% in the 1st quarter. Western Pacific Wealth Management LP now owns 307 shares of the technology company’s stock valued at $71,000 after purchasing an additional 58 shares during the period. OV Management LLC raised its position in shares of Veeva Systems by 1.0% in the second quarter. OV Management LLC now owns 6,659 shares of the technology company’s stock worth $1,219,000 after buying an additional 63 shares in the last quarter. Simplicity Wealth LLC boosted its stake in Veeva Systems by 1.7% during the second quarter. Simplicity Wealth LLC now owns 4,029 shares of the technology company’s stock valued at $737,000 after buying an additional 69 shares during the period. Elo Mutual Pension Insurance Co grew its position in Veeva Systems by 0.5% during the second quarter. Elo Mutual Pension Insurance Co now owns 14,047 shares of the technology company’s stock worth $2,571,000 after buying an additional 70 shares in the last quarter. Finally, Wedmont Private Capital increased its stake in Veeva Systems by 3.8% in the 1st quarter. Wedmont Private Capital now owns 1,981 shares of the technology company’s stock worth $429,000 after acquiring an additional 72 shares during the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Insider Buying and Selling at Veeva Systems

In related news, SVP Jonathan Faddis sold 2,353 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $200.00, for a total transaction of $470,600.00. Following the completion of the transaction, the senior vice president now owns 9,035 shares in the company, valued at $1,807,000. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 10.50% of the stock is currently owned by corporate insiders.

Veeva Systems Stock Down 0.0 %

Shares of NYSE VEEV opened at $207.53 on Thursday. The company has a market cap of $33.61 billion, a price-to-earnings ratio of 61.22, a PEG ratio of 2.05 and a beta of 0.81. The firm’s fifty day moving average is $203.11 and its 200 day moving average is $200.42. Veeva Systems Inc. has a 52 week low of $162.72 and a 52 week high of $236.90.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Wednesday, August 28th. The technology company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.03. The firm had revenue of $676.18 million for the quarter, compared to analysts’ expectations of $667.21 million. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. Equities research analysts anticipate that Veeva Systems Inc. will post 4.21 earnings per share for the current year.

Wall Street Analyst Weigh In

VEEV has been the subject of a number of research analyst reports. Guggenheim lifted their price target on Veeva Systems from $233.00 to $249.00 and gave the company a “buy” rating in a research report on Tuesday. BTIG Research began coverage on shares of Veeva Systems in a research report on Tuesday, July 9th. They set a “buy” rating and a $240.00 target price for the company. Barclays increased their price target on shares of Veeva Systems from $220.00 to $240.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 price objective on shares of Veeva Systems in a report on Thursday, August 29th. Finally, Piper Sandler increased their target price on Veeva Systems from $225.00 to $230.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $230.65.

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.