Algert Global LLC Purchases 880 Shares of Veeva Systems Inc. (NYSE:VEEV)

Algert Global LLC increased its position in Veeva Systems Inc. (NYSE:VEEV) by 64.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,254 shares of the technology company’s stock after buying an additional 880 shares during the quarter. Algert Global LLC’s holdings in Veeva Systems were worth $473,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in VEEV. Advisors Asset Management Inc. purchased a new position in shares of Veeva Systems during the first quarter valued at approximately $28,000. Mowery & Schoenfeld Wealth Management LLC purchased a new position in Veeva Systems during the 3rd quarter valued at $26,000. Blue Trust Inc. increased its position in Veeva Systems by 3,460.0% during the 2nd quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock valued at $33,000 after purchasing an additional 173 shares during the period. DT Investment Partners LLC bought a new position in Veeva Systems in the 2nd quarter worth $35,000. Finally, Fairscale Capital LLC bought a new stake in shares of Veeva Systems during the 2nd quarter valued at about $46,000. 88.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on VEEV. Robert W. Baird decreased their price target on shares of Veeva Systems from $251.00 to $245.00 and set an “outperform” rating for the company in a research note on Monday, October 28th. UBS Group raised their target price on Veeva Systems from $185.00 to $215.00 and gave the company a “neutral” rating in a research note on Monday, August 26th. Raymond James upped their price target on Veeva Systems from $230.00 to $235.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Royal Bank of Canada raised their price objective on Veeva Systems from $250.00 to $275.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Finally, Scotiabank assumed coverage on shares of Veeva Systems in a research report on Monday, November 18th. They issued a “sector perform” rating and a $235.00 target price on the stock. One analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Veeva Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $236.92.

Veeva Systems Stock Up 0.5 %

Shares of Veeva Systems stock opened at $227.85 on Friday. Veeva Systems Inc. has a twelve month low of $165.12 and a twelve month high of $240.68. The company has a market cap of $36.90 billion, a price-to-earnings ratio of 60.76, a price-to-earnings-growth ratio of 2.20 and a beta of 0.81. The company’s 50 day moving average is $215.71 and its 200 day moving average is $201.99.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings results on Wednesday, August 28th. The technology company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.03. The firm had revenue of $676.18 million for the quarter, compared to the consensus estimate of $667.21 million. Veeva Systems had a return on equity of 13.30% and a net margin of 23.91%. Sell-side analysts expect that Veeva Systems Inc. will post 4.19 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Thomas D. Schwenger sold 1,126 shares of Veeva Systems stock in a transaction on Friday, November 8th. The shares were sold at an average price of $240.01, for a total transaction of $270,251.26. Following the transaction, the insider now owns 27,013 shares in the company, valued at $6,483,390.13. This trade represents a 4.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 10.50% of the company’s stock.

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.