North Star Asset Management Inc. Buys 3,472 Shares of Veeva Systems Inc. (NYSE:VEEV)

North Star Asset Management Inc. increased its position in Veeva Systems Inc. (NYSE:VEEV) by 3.0% during the first quarter, Holdings Channel.com reports. The firm owned 117,580 shares of the technology company’s stock after buying an additional 3,472 shares during the quarter. Veeva Systems accounts for approximately 1.2% of North Star Asset Management Inc.’s holdings, making the stock its 24th biggest position. North Star Asset Management Inc.’s holdings in Veeva Systems were worth $27,235,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Allstate Corp bought a new position in shares of Veeva Systems in the fourth quarter valued at approximately $944,000. Arrowstreet Capital Limited Partnership purchased a new position in Veeva Systems in the fourth quarter valued at about $21,013,000. O Shaughnessy Asset Management LLC grew its holdings in Veeva Systems by 23.5% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 8,079 shares of the technology company’s stock valued at $1,699,000 after purchasing an additional 1,537 shares during the period. Summit Financial LLC raised its stake in Veeva Systems by 64.0% in the 4th quarter. Summit Financial LLC now owns 2,537 shares of the technology company’s stock valued at $533,000 after acquiring an additional 990 shares during the period. Finally, B. Metzler seel. Sohn & Co. AG grew its stake in Veeva Systems by 17.0% in the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 7,006 shares of the technology company’s stock valued at $1,473,000 after buying an additional 1,019 shares in the last quarter. Institutional investors own 88.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Stifel Nicolaus upped their target price on shares of Veeva Systems from $272.00 to $295.00 and gave the stock a “buy” rating in a report on Thursday, May 29th. Piper Sandler upped their price target on shares of Veeva Systems from $255.00 to $325.00 and gave the company an “overweight” rating in a research report on Thursday, May 29th. Morgan Stanley increased their price target on shares of Veeva Systems from $201.00 to $210.00 and gave the company an “underweight” rating in a research report on Thursday, May 29th. UBS Group upped their target price on Veeva Systems from $250.00 to $285.00 and gave the company a “neutral” rating in a report on Thursday, May 29th. Finally, Raymond James Financial upped their target price on shares of Veeva Systems from $285.00 to $310.00 and gave the stock an “outperform” rating in a research report on Thursday, May 29th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $274.17.

Veeva Systems Price Performance

Shares of VEEV stock opened at $287.17 on Wednesday. Veeva Systems Inc. has a 1-year low of $177.41 and a 1-year high of $296.72. The company has a market cap of $46.93 billion, a P/E ratio of 60.84, a PEG ratio of 2.32 and a beta of 0.98. The stock’s 50-day moving average is $277.04 and its 200 day moving average is $245.47.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings results on Wednesday, May 28th. The technology company reported $1.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.23. The business had revenue of $759.04 million during the quarter, compared to analysts’ expectations of $728.38 million. Veeva Systems had a net margin of 27.34% and a return on equity of 13.96%. The business’s quarterly revenue was up 16.7% on a year-over-year basis. During the same quarter last year, the company posted $1.50 earnings per share. On average, analysts anticipate that Veeva Systems Inc. will post 4.35 EPS for the current year.

Insider Activity at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 720 shares of Veeva Systems stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $285.62, for a total transaction of $205,646.40. Following the sale, the senior vice president owned 7,902 shares of the company’s stock, valued at $2,256,969.24. The trade was a 8.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Timothy S. Cabral sold 315 shares of the firm’s stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $289.72, for a total transaction of $91,261.80. Following the completion of the transaction, the director directly owned 5,500 shares in the company, valued at $1,593,460. This trade represents a 5.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,378 shares of company stock worth $394,217 in the last 90 days. Corporate insiders own 10.30% 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.