Aigen Investment Management LP Takes Position in Veeva Systems Inc. (NYSE:VEEV)

Aigen Investment Management LP bought a new stake in Veeva Systems Inc. (NYSE:VEEV) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 2,781 shares of the technology company’s stock, valued at approximately $644,000.

Other large investors have also recently made changes to their positions in the company. Abound Financial LLC acquired a new stake in shares of Veeva Systems in the 1st quarter valued at about $25,000. ORG Partners LLC acquired a new stake in shares of Veeva Systems in the 1st quarter valued at about $26,000. Golden State Wealth Management LLC lifted its position in Veeva Systems by 152.9% during the 1st quarter. Golden State Wealth Management LLC now owns 129 shares of the technology company’s stock worth $30,000 after acquiring an additional 78 shares during the period. Wayfinding Financial LLC acquired a new stake in Veeva Systems during the 1st quarter worth approximately $32,000. Finally, Key Financial Inc lifted its position in Veeva Systems by 161.0% during the 1st quarter. Key Financial Inc now owns 154 shares of the technology company’s stock worth $36,000 after acquiring an additional 95 shares during the period. 88.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Jonathan Faddis sold 720 shares of the stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $285.62, for a total value of $205,646.40. Following the completion of the transaction, the senior vice president directly owned 7,902 shares of the company’s stock, valued at $2,256,969.24. This represents a 8.35% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Priscilla Hung sold 172 shares of the stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $283.00, for a total value of $48,676.00. Following the completion of the transaction, the director directly owned 4,137 shares of the company’s stock, valued at $1,170,771. This trade represents a 3.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,378 shares of company stock valued at $394,217 in the last three months. 10.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

VEEV has been the subject of a number of recent research reports. UBS Group increased their price objective on Veeva Systems from $250.00 to $285.00 and gave the stock a “neutral” rating in a research report on Thursday, May 29th. KeyCorp increased their price objective on Veeva Systems from $285.00 to $325.00 and gave the stock an “overweight” rating in a research report on Monday, July 14th. Stifel Nicolaus increased their target price on Veeva Systems from $272.00 to $295.00 and gave the stock a “buy” rating in a research note on Thursday, May 29th. Barclays increased their target price on Veeva Systems from $285.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday, May 29th. Finally, Piper Sandler increased their target price on Veeva Systems from $255.00 to $325.00 and gave the stock an “overweight” rating in a research note on Thursday, May 29th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, Veeva Systems currently has an average rating of “Moderate Buy” and an average price target of $274.17.

Veeva Systems Stock Performance

Shares of NYSE VEEV opened at $277.35 on Tuesday. The firm has a market cap of $45.32 billion, a price-to-earnings ratio of 58.76, a PEG ratio of 2.23 and a beta of 0.95. Veeva Systems Inc. has a 1 year low of $184.39 and a 1 year high of $296.72. The stock’s 50-day simple moving average is $282.91 and its 200-day simple moving average is $249.69.

Veeva Systems (NYSE:VEEV) last issued its earnings results on Wednesday, May 28th. The technology company reported $1.97 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.23. Veeva Systems had a return on equity of 13.96% and a net margin of 27.34%. The company had revenue of $759.04 million during the quarter, compared to the consensus estimate of $728.38 million. During the same period in the previous year, the firm posted $1.50 earnings per share. Veeva Systems’s quarterly revenue was up 16.7% compared to the same quarter last year. As a group, research analysts predict that Veeva Systems Inc. will post 4.35 EPS for the current year.

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.