Veracity Capital LLC Invests $424,000 in Veeva Systems Inc. (NYSE:VEEV)

Veracity Capital LLC bought a new position in Veeva Systems Inc. (NYSE:VEEV) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 1,828 shares of the technology company’s stock, valued at approximately $424,000.

Several other institutional investors have also recently made changes to their positions in the company. DSM Capital Partners LLC bought a new position in Veeva Systems during the 4th quarter valued at approximately $29,000. Vermillion & White Wealth Management Group LLC bought a new position in Veeva Systems during the 4th quarter valued at approximately $32,000. First Financial Corp IN bought a new position in Veeva Systems during the 1st quarter valued at approximately $35,000. American National Bank bought a new position in Veeva Systems during the 4th quarter valued at approximately $36,000. Finally, Atticus Wealth Management LLC increased its position in Veeva Systems by 500.0% during the 3rd quarter. Atticus Wealth Management LLC now owns 180 shares of the technology company’s stock valued at $37,000 after buying an additional 150 shares in the last quarter. Institutional investors own 88.20% of the company’s stock.

Insider Transactions at Veeva Systems

In other news, SVP Jonathan Faddis sold 3,598 shares of Veeva Systems stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $207.42, for a total value of $746,297.16. Following the sale, the senior vice president now directly owns 10,668 shares of the company’s stock, valued at $2,212,756.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Alan Mateo sold 3,391 shares of Veeva Systems stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $200.86, for a total value of $681,116.26. Following the completion of the transaction, the executive vice president now owns 21,983 shares in the company, valued at $4,415,505.38. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Jonathan Faddis sold 3,598 shares of Veeva Systems stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $207.42, for a total value of $746,297.16. Following the completion of the transaction, the senior vice president now owns 10,668 shares of the company’s stock, valued at approximately $2,212,756.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,989 shares of company stock valued at $4,192,363. 10.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have commented on VEEV shares. JPMorgan Chase & Co. increased their target price on Veeva Systems from $183.00 to $222.00 and gave the company a “neutral” rating in a research note on Wednesday, March 13th. Truist Financial cut their target price on Veeva Systems from $203.00 to $197.00 and set a “hold” rating on the stock in a research note on Friday, June 14th. Bank of America cut their target price on Veeva Systems from $240.00 to $204.00 and set a “neutral” rating on the stock in a research note on Friday, May 31st. UBS Group cut their target price on Veeva Systems from $235.00 to $185.00 and set a “neutral” rating on the stock in a research note on Friday, May 31st. Finally, Needham & Company LLC reiterated a “buy” rating and set a $260.00 target price on shares of Veeva Systems in a research note on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Veeva Systems presently has an average rating of “Moderate Buy” and a consensus price target of $227.95.

Veeva Systems Stock Down 0.8 %

NYSE:VEEV opened at $181.33 on Friday. The business’s 50-day simple moving average is $193.23 and its two-hundred day simple moving average is $204.95. The stock has a market cap of $29.31 billion, a PE ratio of 53.49, a P/E/G ratio of 1.78 and a beta of 0.80. Veeva Systems Inc. has a 52 week low of $162.72 and a 52 week high of $236.90.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings results on Thursday, May 30th. The technology company reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.10. The business had revenue of $650.35 million for the quarter, compared to analysts’ expectations of $641.73 million. Veeva Systems had a return on equity of 12.74% and a net margin of 22.34%. Sell-side analysts anticipate that Veeva Systems Inc. will post 4.19 earnings per share for the current fiscal 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.