SG Americas Securities LLC Invests $1.98 Million in Veeva Systems Inc. (NYSE:VEEV)

SG Americas Securities LLC acquired a new stake in shares of Veeva Systems Inc. (NYSE:VEEV) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 10,280 shares of the technology company’s stock, valued at approximately $1,979,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Veeva Systems by 1.0% during the first quarter. Vanguard Group Inc. now owns 12,888,204 shares of the technology company’s stock valued at $2,738,229,000 after acquiring an additional 132,560 shares during the period. Alliancebernstein L.P. boosted its stake in Veeva Systems by 4.3% during the 2nd quarter. Alliancebernstein L.P. now owns 7,779,200 shares of the technology company’s stock valued at $1,538,181,000 after purchasing an additional 323,959 shares during the period. T. Rowe Price Investment Management Inc. boosted its stake in Veeva Systems by 7.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,061,137 shares of the technology company’s stock valued at $655,387,000 after purchasing an additional 279,628 shares during the period. Wellington Management Group LLP grew its position in Veeva Systems by 9.6% in the 3rd 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, State Street Corp increased its stake in shares of Veeva Systems by 1.6% in the second quarter. State Street Corp now owns 2,977,448 shares of the technology company’s stock valued at $588,731,000 after purchasing an additional 47,469 shares during the period. 88.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

VEEV has been the subject of a number of recent analyst reports. Stifel Nicolaus increased their price objective on Veeva Systems from $205.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, March 1st. Jefferies Financial Group lifted their price objective on shares of Veeva Systems from $225.00 to $270.00 and gave the company a “buy” rating in a research note on Monday, March 4th. Piper Sandler increased their target price on shares of Veeva Systems from $220.00 to $245.00 and gave the company an “overweight” rating in a research report 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 stock a “neutral” rating in a research report on Wednesday, March 13th. Finally, KeyCorp increased 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. 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 stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $234.90.

Insider Activity

In other Veeva Systems news, Director Matthew J. Wallach sold 5,000 shares of the firm’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $186.05, for a total transaction of $930,250.00. Following the completion of the sale, the director now directly owns 109,025 shares in the company, valued at approximately $20,284,101.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Timothy S. Cabral sold 15,000 shares of Veeva Systems stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $226.04, for a total transaction of $3,390,600.00. Following the completion of the sale, the director now owns 23,391 shares of the company’s stock, valued at $5,287,301.64. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Matthew J. Wallach sold 5,000 shares of the business’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $186.05, for a total value of $930,250.00. Following the completion of the transaction, the director now owns 109,025 shares in the company, valued at approximately $20,284,101.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,498 shares of company stock worth $6,219,253. 10.98% of the stock is owned by corporate insiders.

Veeva Systems Trading Up 0.4 %

VEEV stock opened at $233.53 on Thursday. The firm has a 50-day moving average of $219.45 and a two-hundred day moving average of $201.94. The firm has a market capitalization of $37.60 billion, a PE ratio of 72.48, a P/E/G ratio of 2.32 and a beta of 0.74. Veeva Systems Inc. has a one year low of $160.21 and a one year high of $236.90.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings data on Thursday, February 29th. The technology company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.11. Veeva Systems had a net margin of 22.24% and a return on equity of 11.59%. The firm had revenue of $630.62 million during the quarter, compared to analyst estimates of $620.75 million. On average, equities research analysts anticipate that Veeva Systems Inc. will post 4.11 earnings per share for the current year.

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 data 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.