Vinva Investment Management Ltd Buys 556 Shares of Veeva Systems Inc. (NYSE:VEEV)

Vinva Investment Management Ltd lifted its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 9.0% during the third quarter, HoldingsChannel.com reports. The fund owned 6,767 shares of the technology company’s stock after buying an additional 556 shares during the quarter. Vinva Investment Management Ltd’s holdings in Veeva Systems were worth $1,427,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Mowery & Schoenfeld Wealth Management LLC purchased a new position in Veeva Systems during the 3rd quarter worth $26,000. Advisors Asset Management Inc. purchased a new position in shares of Veeva Systems during the first quarter valued at $28,000. Blue Trust Inc. raised its holdings in shares of Veeva Systems by 3,460.0% in the second quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock valued at $33,000 after acquiring an additional 173 shares in the last quarter. DT Investment Partners LLC purchased a new stake in Veeva Systems in the second quarter worth about $35,000. Finally, Mather Group LLC. lifted its stake in Veeva Systems by 166.3% in the second quarter. Mather Group LLC. now owns 253 shares of the technology company’s stock worth $46,000 after acquiring an additional 158 shares during the period. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Performance

Shares of VEEV stock opened at $227.94 on Friday. Veeva Systems Inc. has a fifty-two week low of $165.12 and a fifty-two week high of $240.68. The firm has a market capitalization of $36.91 billion, a PE ratio of 60.78, a P/E/G ratio of 2.20 and a beta of 0.81. The stock’s 50-day simple moving average is $215.71 and its 200-day simple moving average is $202.00.

Veeva Systems (NYSE:VEEV) last posted 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. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. The company had revenue of $676.18 million during the quarter, compared to analyst estimates of $667.21 million. Sell-side analysts forecast that Veeva Systems Inc. will post 4.19 earnings per share for the current year.

Insider Buying and Selling at Veeva Systems

In other news, insider Thomas D. Schwenger sold 1,126 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $240.01, for a total value of $270,251.26. Following the completion of the transaction, the insider now owns 27,013 shares of the company’s stock, valued at $6,483,390.13. The trade was a 4.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 10.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Royal Bank of Canada boosted their price target on shares of Veeva Systems from $250.00 to $275.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Scotiabank assumed coverage on shares of Veeva Systems in a research note on Monday, November 18th. They issued a “sector perform” rating and a $235.00 price objective for the company. Guggenheim upped their target price on Veeva Systems from $233.00 to $249.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Raymond James lifted their price target on Veeva Systems from $230.00 to $235.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Finally, BNP Paribas started coverage on Veeva Systems in a research note on Tuesday, October 8th. They set an “outperform” rating and a $286.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $236.92.

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.