Sapient Capital LLC Invests $894,000 in Veeva Systems Inc. (NYSE:VEEV)

Sapient Capital LLC bought a new position in shares of Veeva Systems Inc. (NYSE:VEEV) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 4,645 shares of the technology company’s stock, valued at approximately $894,000.

Other institutional investors also recently bought and sold shares of the company. OFI Invest Asset Management purchased a new position in Veeva Systems during the third quarter worth about $25,000. Operose Advisors LLC purchased a new position in Veeva Systems during the third quarter worth about $29,000. Parkside Financial Bank & Trust raised its stake in Veeva Systems by 81.9% during the third quarter. Parkside Financial Bank & Trust now owns 171 shares of the technology company’s stock worth $35,000 after purchasing an additional 77 shares during the period. Atticus Wealth Management LLC raised its stake in shares of Veeva Systems by 500.0% in the 3rd quarter. Atticus Wealth Management LLC now owns 180 shares of the technology company’s stock valued at $37,000 after acquiring an additional 150 shares during the period. Finally, Nkcfo LLC raised its stake in shares of Veeva Systems by 54.7% in the 3rd quarter. Nkcfo LLC now owns 232 shares of the technology company’s stock valued at $47,000 after acquiring an additional 82 shares during the period. 88.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

VEEV has been the topic of a number of research analyst reports. StockNews.com raised shares of Veeva Systems from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. Needham & Company LLC reissued a “buy” rating and issued a $260.00 price target on shares of Veeva Systems in a research note on Tuesday, April 2nd. The Goldman Sachs Group boosted their price target on shares of Veeva Systems from $219.00 to $248.00 and gave the company a “buy” rating in a research note on Friday, March 1st. JPMorgan Chase & Co. boosted their price target on shares of Veeva Systems from $183.00 to $222.00 and gave the company a “neutral” rating in a research note on Wednesday, March 13th. Finally, KeyCorp boosted their price target on shares of Veeva Systems from $232.00 to $250.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $234.90.

Veeva Systems Stock Up 1.0 %

NYSE VEEV traded up $2.02 on Friday, hitting $203.45. 646,523 shares of the stock were exchanged, compared to its average volume of 884,814. Veeva Systems Inc. has a fifty-two week low of $160.21 and a fifty-two week high of $236.90. The company has a market cap of $32.82 billion, a PE ratio of 63.18, a PEG ratio of 2.05 and a beta of 0.76. The company has a 50-day moving average price of $217.38 and a 200-day moving average price of $202.14.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings results on Thursday, February 29th. The technology company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.81 by $0.11. Veeva Systems had a net margin of 22.24% and a return on equity of 11.26%. The company had revenue of $630.62 million during the quarter, compared to analysts’ expectations of $620.75 million. As a group, equities research analysts predict that Veeva Systems Inc. will post 4.11 EPS for the current fiscal year.

Insider Transactions at Veeva Systems

In other news, EVP Alan Mateo sold 3,391 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $200.86, for a total transaction of $681,116.26. Following the completion of the sale, the executive vice president now owns 21,983 shares in the company, valued at approximately $4,415,505.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Jonathan Faddis sold 3,598 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $207.42, for a total transaction of $746,297.16. Following the completion of the sale, the senior vice president now owns 10,668 shares in the company, valued at approximately $2,212,756.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Alan Mateo sold 3,391 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $200.86, for a total transaction of $681,116.26. Following the sale, the executive vice president now owns 21,983 shares of the company’s stock, valued at approximately $4,415,505.38. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,989 shares of company stock worth $4,818,013. 10.98% of the stock is currently owned by insiders.

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.