Slow Capital Inc. Raises Position in Veeva Systems Inc. (NYSE:VEEV)

Slow Capital Inc. grew its position in Veeva Systems Inc. (NYSE:VEEV) by 6.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,013 shares of the technology company’s stock after acquiring an additional 622 shares during the period. Slow Capital Inc.’s holdings in Veeva Systems were worth $2,120,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. OFI Invest Asset Management acquired a new position in shares of Veeva Systems during the third quarter worth $25,000. Operose Advisors LLC acquired a new position in shares of Veeva Systems during the third quarter worth $29,000. Resurgent Financial Advisors LLC acquired a new stake in Veeva Systems in the fourth quarter valued at $33,000. Parkside Financial Bank & Trust raised its holdings in Veeva Systems by 81.9% in the third quarter. Parkside Financial Bank & Trust now owns 171 shares of the technology company’s stock valued at $35,000 after acquiring an additional 77 shares in the last quarter. Finally, Atticus Wealth Management LLC raised its holdings in Veeva Systems by 500.0% in the third quarter. Atticus Wealth Management LLC now owns 180 shares of the technology company’s stock valued at $37,000 after acquiring an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Trading Down 0.6 %

VEEV traded down $1.25 on Wednesday, reaching $200.37. The company had a trading volume of 1,421,706 shares, compared to its average volume of 884,760. The company has a fifty day moving average of $222.17 and a 200-day moving average of $202.87. The company has a market capitalization of $32.32 billion, a P/E ratio of 62.23, a PEG ratio of 2.04 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 issued its quarterly earnings results on Thursday, February 29th. The technology company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.11. Veeva Systems had a net margin of 22.24% and a return on equity of 11.26%. The company had revenue of $630.62 million during the quarter, compared to the consensus estimate of $620.75 million. Research analysts predict that Veeva Systems Inc. will post 4.11 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on VEEV. Oppenheimer reaffirmed an “outperform” rating and issued a $225.00 price target on shares of Veeva Systems in a report on Thursday, February 22nd. Piper Sandler upped their price target on shares of Veeva Systems from $220.00 to $245.00 and gave the company an “overweight” rating in a report on Friday, March 1st. Citigroup upped their price target on shares of Veeva Systems from $240.00 to $264.00 and gave the company a “buy” rating in a report on Friday, March 1st. Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 price target on shares of Veeva Systems in a report on Tuesday, April 2nd. Finally, Stifel Nicolaus increased their target price on shares of Veeva Systems from $205.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Veeva Systems has a consensus rating of “Moderate Buy” and an average price target of $234.90.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, COO Thomas D. Schwenger sold 1,238 shares of the company’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $210.02, for a total transaction of $260,004.76. Following the completion of the sale, the chief operating officer now directly owns 24,342 shares of the company’s stock, valued at $5,112,306.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, COO Thomas D. Schwenger sold 1,238 shares of the stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $210.02, for a total value of $260,004.76. Following the completion of the sale, the chief operating officer now directly owns 24,342 shares of the company’s stock, valued at $5,112,306.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Timothy S. Cabral sold 15,000 shares of the stock in a transaction that occurred 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 directly owns 23,391 shares of the company’s stock, valued at $5,287,301.64. The disclosure for this sale can be found here. 10.98% of the stock is owned by corporate insiders.

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.