Benjamin F. Edwards & Company Inc. Acquires 3,265 Shares of Veeva Systems Inc. (NYSE:VEEV)

Benjamin F. Edwards & Company Inc. increased its position in Veeva Systems Inc. (NYSE:VEEV) by 169.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,188 shares of the technology company’s stock after buying an additional 3,265 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Veeva Systems were worth $999,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Invesco Ltd. grew its position in Veeva Systems by 239.7% in the 3rd quarter. Invesco Ltd. now owns 956,355 shares of the technology company’s stock worth $194,570,000 after purchasing an additional 674,785 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Veeva Systems by 34.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,045,414 shares of the technology company’s stock valued at $416,139,000 after acquiring an additional 522,257 shares during the last quarter. Van ECK Associates Corp lifted its holdings in Veeva Systems by 22.6% during the fourth quarter. Van ECK Associates Corp now owns 1,775,065 shares of the technology company’s stock worth $341,736,000 after acquiring an additional 327,662 shares during the period. Wellington Management Group LLP boosted its position in Veeva Systems by 9.6% in the third quarter. Wellington Management Group LLP now owns 3,315,304 shares of the technology company’s stock worth $674,499,000 after purchasing an additional 289,133 shares during the last quarter. Finally, FMR LLC grew its stake in Veeva Systems by 15.4% in the 3rd quarter. FMR LLC now owns 1,833,135 shares of the technology company’s stock valued at $372,951,000 after purchasing an additional 244,599 shares during the period. Institutional investors own 88.20% of the company’s stock.

Insiders Place Their Bets

In other Veeva Systems news, EVP Alan Mateo sold 3,391 shares of Veeva Systems stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $200.86, for a total value of $681,116.26. Following the completion of the sale, the executive vice president now owns 21,983 shares of the company’s stock, valued at approximately $4,415,505.38. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Veeva Systems news, EVP Alan Mateo sold 3,391 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was 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 of the company’s stock, valued at $4,415,505.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $746,297.16. Following the transaction, the senior vice president now owns 10,668 shares of the company’s stock, valued at $2,212,756.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,989 shares of company stock valued at $4,818,013. Corporate insiders own 10.50% of the company’s stock.

Veeva Systems Trading Down 0.3 %

Veeva Systems stock opened at $202.81 on Tuesday. The company has a market capitalization of $32.72 billion, a price-to-earnings ratio of 62.98, a price-to-earnings-growth ratio of 2.05 and a beta of 0.76. The business’s fifty day simple moving average is $216.96 and its two-hundred day simple moving average is $202.07. Veeva Systems Inc. has a 12 month low of $160.21 and a 12 month high of $236.90.

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on VEEV. Oppenheimer reissued an “outperform” rating and issued a $225.00 price target on shares of Veeva Systems in a report on Thursday, February 22nd. Raymond James reiterated an “outperform” rating and issued a $260.00 price objective on shares of Veeva Systems in a research note on Tuesday, March 26th. Stifel Nicolaus boosted their target price on Veeva Systems from $205.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Piper Sandler increased their target price on shares of Veeva Systems from $220.00 to $245.00 and gave the stock an “overweight” rating in a research report on Friday, March 1st. Finally, Citigroup increased their target price on Veeva Systems from $240.00 to $264.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Veeva Systems has an average rating of “Moderate Buy” and a consensus target price of $234.90.

Veeva Systems 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.