Trilogy Capital Inc. Invests $410,000 in Veeva Systems Inc. (NYSE:VEEV)

Trilogy Capital Inc. acquired a new position in shares of Veeva Systems Inc. (NYSE:VEEV) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 1,768 shares of the technology company’s stock, valued at approximately $410,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. O Shaughnessy Asset Management LLC raised its holdings in shares of Veeva Systems by 94.9% during the third quarter. O Shaughnessy Asset Management LLC now owns 6,211 shares of the technology company’s stock worth $1,264,000 after purchasing an additional 3,024 shares during the last quarter. Bank of Nova Scotia purchased a new position in shares of Veeva Systems during the third quarter worth $635,000. Schonfeld Strategic Advisors LLC raised its holdings in shares of Veeva Systems by 1,260.6% during the third quarter. Schonfeld Strategic Advisors LLC now owns 3,354 shares of the technology company’s stock worth $682,000 after purchasing an additional 3,643 shares during the last quarter. SRS Capital Advisors Inc. raised its holdings in shares of Veeva Systems by 188.3% during the third quarter. SRS Capital Advisors Inc. now owns 3,445 shares of the technology company’s stock worth $701,000 after purchasing an additional 2,250 shares during the last quarter. Finally, AXQ Capital LP purchased a new position in shares of Veeva Systems during the third quarter worth $895,000. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

VEEV has been the subject of a number of recent analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 price objective on shares of Veeva Systems in a report on Friday, June 21st. Citigroup cut their price objective on shares of Veeva Systems from $274.00 to $256.00 and set a “buy” rating for the company in a report on Monday, June 3rd. KeyCorp lifted their price objective on shares of Veeva Systems from $232.00 to $250.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th. StockNews.com raised shares of Veeva Systems from a “hold” rating to a “buy” rating in a report on Friday, April 12th. Finally, Evercore ISI dropped their target price on shares of Veeva Systems from $230.00 to $200.00 and set an “in-line” rating on the stock in a research report on Friday, May 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, Veeva Systems presently has a consensus rating of “Moderate Buy” and an average price target of $227.95.

Veeva Systems Trading Down 1.2 %

VEEV traded down $2.14 during trading hours on Friday, hitting $183.01. 1,424,589 shares of the company’s stock were exchanged, compared to its average volume of 1,393,494. Veeva Systems Inc. has a 12-month low of $162.72 and a 12-month high of $236.90. The firm has a 50 day moving average of $194.68 and a 200 day moving average of $205.08. The firm has a market cap of $29.58 billion, a P/E ratio of 53.99, a price-to-earnings-growth ratio of 1.79 and a beta of 0.80.

Veeva Systems (NYSE:VEEV) last announced its earnings results 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 the consensus estimate of $641.73 million. As a group, research analysts expect that Veeva Systems Inc. will post 4.19 EPS for the current fiscal year.

Insider Buying and Selling

In other news, SVP Jonathan Faddis sold 3,598 shares of the company’s stock in a transaction 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 completion of the transaction, 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 document filed with the SEC, which is available at this link. In related news, CFO Timothy S. Cabral sold 15,000 shares of the 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 sale, the chief financial officer now owns 8,391 shares in the company, valued at approximately $1,546,713.03. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Jonathan Faddis sold 3,598 shares of the 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 sale, the senior vice president now 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 valued at $4,192,363 in the last ninety days. Company insiders own 10.50% of the company’s stock.

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.