Norden Group LLC Invests $304,000 in Veeva Systems Inc. (NYSE:VEEV)

Norden Group LLC acquired a new stake in shares of Veeva Systems Inc. (NYSE:VEEV) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 1,313 shares of the technology company’s stock, valued at approximately $304,000.

A number of other large investors also recently bought and sold shares of the business. Facet Wealth Inc. boosted its position in shares of Veeva Systems by 3.2% during the fourth quarter. Facet Wealth Inc. now owns 1,542 shares of the technology company’s stock worth $323,000 after buying an additional 48 shares during the period. Yousif Capital Management LLC boosted its position in shares of Veeva Systems by 3.5% during the fourth quarter. Yousif Capital Management LLC now owns 1,777 shares of the technology company’s stock worth $342,000 after buying an additional 60 shares during the period. Quadrant Capital Group LLC boosted its holdings in Veeva Systems by 14.7% in the fourth quarter. Quadrant Capital Group LLC now owns 530 shares of the technology company’s stock valued at $102,000 after purchasing an additional 68 shares during the period. Wedmont Private Capital boosted its holdings in Veeva Systems by 3.8% in the first quarter. Wedmont Private Capital now owns 1,981 shares of the technology company’s stock valued at $429,000 after purchasing an additional 72 shares during the period. Finally, Foundations Investment Advisors LLC boosted its holdings in Veeva Systems by 3.7% in the fourth quarter. Foundations Investment Advisors LLC now owns 2,250 shares of the technology company’s stock valued at $459,000 after purchasing an additional 80 shares during the period. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. BTIG Research assumed coverage on Veeva Systems in a report on Tuesday. They issued a “buy” rating and a $240.00 target price for the company. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 target price on shares of Veeva Systems in a report on Friday, May 31st. Evercore ISI decreased their target price on Veeva Systems from $230.00 to $200.00 and set an “in-line” rating for the company in a report on Friday, May 31st. Morgan Stanley decreased their target price on Veeva Systems from $210.00 to $173.00 and set an “underweight” rating for the company in a report on Friday, May 31st. Finally, Stifel Nicolaus decreased their price target on Veeva Systems from $250.00 to $210.00 and set a “buy” rating for the company in a report on Friday, May 31st. One analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $228.05.

Insider Activity

In related news, CFO Timothy S. Cabral sold 15,000 shares of Veeva Systems stock in a transaction 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 completion of the sale, the chief financial officer now owns 8,391 shares of the company’s stock, valued at approximately $1,546,713.03. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Veeva Systems news, CFO Timothy S. Cabral sold 15,000 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $184.33, for a total transaction of $2,764,950.00. Following the completion of the transaction, the chief financial officer now owns 8,391 shares of the company’s stock, valued at approximately $1,546,713.03. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Jonathan Faddis sold 3,598 shares of the business’s stock in a transaction 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 transaction, the senior vice president now directly 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. Insiders have sold a total of 21,989 shares of company stock worth $4,192,363 in the last ninety days. Corporate insiders own 10.50% of the company’s stock.

Veeva Systems Stock Performance

NYSE VEEV opened at $187.93 on Friday. The stock has a market capitalization of $30.38 billion, a P/E ratio of 55.44, a P/E/G ratio of 1.78 and a beta of 0.80. Veeva Systems Inc. has a 1 year low of $162.72 and a 1 year high of $236.90. The business’s fifty day moving average is $191.22 and its two-hundred day moving average is $204.86.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings data on Thursday, May 30th. The technology company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.10. Veeva Systems had a net margin of 22.34% and a return on equity of 12.74%. The firm had revenue of $650.35 million for the quarter, compared to analysts’ expectations of $641.73 million. On average, research analysts forecast that Veeva Systems Inc. will post 4.19 earnings per share 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.