Teamwork Financial Advisors LLC purchased a new position in shares of Veeva Systems Inc (NYSE:VEEV) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,199 shares of the technology company’s stock, valued at approximately $337,000.

Other large investors have also recently made changes to their positions in the company. San Francisco Sentry Investment Group CA purchased a new stake in shares of Veeva Systems during the 2nd quarter worth approximately $31,000. Jacobi Capital Management LLC purchased a new stake in Veeva Systems in the 2nd quarter valued at approximately $35,000. Balentine LLC purchased a new stake in Veeva Systems in the 1st quarter valued at approximately $37,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Veeva Systems in the 2nd quarter valued at approximately $47,000. Finally, Duncker Streett & Co. Inc. purchased a new stake in Veeva Systems in the 2nd quarter valued at approximately $47,000. 79.56% of the stock is currently owned by institutional investors and hedge funds.

In related news, EVP Alan Mateo sold 2,665 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $268.59, for a total value of $715,792.35. Following the completion of the sale, the executive vice president now directly owns 12,538 shares in the company, valued at approximately $3,367,581.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Jonathan Faddis sold 5,000 shares of the stock in a transaction on Monday, August 31st. The shares were sold at an average price of $276.53, for a total value of $1,382,650.00. Following the completion of the sale, the senior vice president now owns 5,576 shares of the company’s stock, valued at $1,541,931.28. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,127 shares of company stock valued at $6,677,373. 13.17% of the stock is owned by insiders.

A number of equities research analysts recently issued reports on the company. Piper Sandler upped their target price on Veeva Systems from $220.00 to $310.00 and gave the company an “overweight” rating in a research note on Friday, August 28th. Morgan Stanley upped their target price on Veeva Systems from $253.00 to $323.00 and gave the company an “overweight” rating in a research note on Monday, August 31st. Stifel Nicolaus upped their target price on Veeva Systems from $225.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, August 28th. SVB Leerink upped their target price on Veeva Systems from $167.00 to $282.00 and gave the company a “market perform” rating in a research note on Friday, August 28th. Finally, JPMorgan Chase & Co. boosted their price target on Veeva Systems from $200.00 to $297.00 and gave the company a “neutral” rating in a report on Friday, August 28th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and fourteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $273.28.

VEEV stock opened at $306.27 on Friday. The company has a market cap of $46.19 billion, a price-to-earnings ratio of 148.68, a PEG ratio of 9.53 and a beta of 0.95. The company has a quick ratio of 3.56, a current ratio of 3.56 and a debt-to-equity ratio of 0.02. The business has a fifty day simple moving average of $277.90 and a 200-day simple moving average of $233.90. Veeva Systems Inc has a 52 week low of $118.11 and a 52 week high of $313.10.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Thursday, August 27th. The technology company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.08. The business had revenue of $353.68 million during the quarter, compared to the consensus estimate of $340.00 million. Veeva Systems had a return on equity of 15.77% and a net margin of 25.60%. The business’s revenue for the quarter was up 32.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.55 EPS. As a group, analysts expect that Veeva Systems Inc will post 1.82 earnings per share for the current fiscal year.

About Veeva Systems

Veeva Systems Inc provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, and internationally. The company offers Veeva Commercial Cloud, a suite of multichannel customer relationship management applications, data solutions, and master data management solutions; and Veeva Vault, a cloud-based enterprise content and data management applications for managing commercial functions, including medical, sales, and marketing, as well as research and development functions, such as clinical, regulatory, quality, and safety.

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Institutional Ownership by Quarter for Veeva Systems (NYSE:VEEV)

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