Veeva Systems Inc. (NYSE:VEEV) Shares Bought by RMB Capital Management LLC

RMB Capital Management LLC boosted its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 3.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,961 shares of the technology company’s stock after purchasing an additional 150 shares during the period. RMB Capital Management LLC’s holdings in Veeva Systems were worth $1,296,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. MUFG Americas Holdings Corp acquired a new position in Veeva Systems during the fourth quarter valued at $26,000. Abundance Wealth Counselors acquired a new position in shares of Veeva Systems in the first quarter worth about $26,000. Graves Light Private Wealth Management Inc. acquired a new position in shares of Veeva Systems in the fourth quarter worth about $27,000. Financial Avengers Inc. acquired a new position in shares of Veeva Systems in the fourth quarter worth about $27,000. Finally, Wealthcare Advisory Partners LLC acquired a new position in shares of Veeva Systems in the first quarter worth about $30,000. Institutional investors own 77.55% of the company’s stock.

Shares of NYSE VEEV opened at $294.98 on Friday. Veeva Systems Inc. has a 12-month low of $210.75 and a 12-month high of $325.54. The stock has a market cap of $44.90 billion, a PE ratio of 124.99, a PEG ratio of 8.26 and a beta of 0.74. The company’s 50-day simple moving average is $270.67.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Wednesday, May 26th. The technology company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.13. Veeva Systems had a net margin of 25.94% and a return on equity of 16.09%. The company had revenue of $433.57 million during the quarter, compared to analysts’ expectations of $410.07 million. During the same quarter in the prior year, the company earned $0.66 EPS. Veeva Systems’s revenue was up 28.6% compared to the same quarter last year. On average, analysts predict that Veeva Systems Inc. will post 2.2 EPS for the current year.

A number of research analysts have weighed in on the stock. Barclays upped their price objective on shares of Veeva Systems from $310.00 to $320.00 and gave the stock an “equal weight” rating in a research report on Friday, May 28th. Piper Sandler upped their price objective on shares of Veeva Systems from $350.00 to $360.00 and gave the stock an “overweight” rating in a research report on Friday, May 28th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their price objective on shares of Veeva Systems from $335.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, May 28th. Zacks Investment Research downgraded shares of Veeva Systems from a “buy” rating to a “hold” rating and set a $277.00 price objective for the company. in a research report on Thursday, May 20th. Finally, UBS Group upgraded shares of Veeva Systems from a “sell” rating to a “neutral” rating and upped their price target for the stock from $245.00 to $250.00 in a research report on Wednesday, March 31st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $311.65.

In other news, COO Thomas D. Schwenger sold 822 shares of the stock in a transaction that occurred on Monday, April 5th. The shares were sold at an average price of $265.98, for a total value of $218,635.56. Following the completion of the sale, the chief operating officer now owns 11,427 shares of the company’s stock, valued at approximately $3,039,353.46. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Mary Lynne Hedley sold 95 shares of the stock in a transaction that occurred on Wednesday, April 14th. The shares were sold at an average price of $270.66, for a total transaction of $25,712.70. Following the completion of the sale, the director now directly owns 1,614 shares of the company’s stock, valued at approximately $436,845.24. The disclosure for this sale can be found here. In the last three months, insiders sold 13,525 shares of company stock valued at $3,729,620. Corporate insiders own 13.18% of the company’s stock.

Veeva Systems Profile

Veeva Systems Inc provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, the Middle East, Africa, and Latin America. The company offers Veeva Commercial Cloud, a suite of software, data, and analytics solutions, which include Veeva customer relationship management (CRM) and Veeva Medical CRM, Veeva CLM, Veeva CRM Approved Email, Veeva CRM Engage, Veeva Align, Veeva CRM Events Management, Veeva Nitro, Veeva Andi, Veeva OpenData, Veeva Link, Veeva Network Customer Master, Veeva Crossix, Veeva Data Cloud, and MyVeeva for Doctors; and Veeva Vault, a cloud-based enterprise content and data management applications for managing commercial functions, including sales and marketing, and medical content and communications, as well as research and development functions, such as clinical, regulatory, quality, and safety.

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Institutional Ownership by Quarter for Veeva Systems (NYSE:VEEV)

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