Van Hulzen Asset Management LLC Invests $1.82 Million in Veeva Systems Inc. (NYSE:VEEV)

Van Hulzen Asset Management LLC acquired a new position in shares of Veeva Systems Inc. (NYSE:VEEVFree Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 8,930 shares of the technology company’s stock, valued at approximately $1,817,000.

Other large investors also recently added to or reduced their stakes in the company. Rise Advisors LLC raised its position in Veeva Systems by 424.0% in the 3rd quarter. Rise Advisors LLC now owns 131 shares of the technology company’s stock worth $27,000 after purchasing an additional 106 shares during the period. OFI Invest Asset Management purchased a new position in shares of Veeva Systems in the third quarter valued at about $25,000. Nkcfo LLC purchased a new position in shares of Veeva Systems in the second quarter valued at about $30,000. First Pacific Advisors LP purchased a new position in shares of Veeva Systems in the second quarter valued at about $35,000. Finally, First Financial Corp IN purchased a new position in shares of Veeva Systems in the third quarter valued at about $40,000. Hedge funds and other institutional investors own 80.07% of the company’s stock.

Veeva Systems Stock Performance

Shares of NYSE VEEV opened at $210.89 on Wednesday. The firm’s 50 day moving average price is $189.77 and its 200-day moving average price is $195.52. The company has a market cap of $33.96 billion, a PE ratio of 60.60, a P/E/G ratio of 3.05 and a beta of 0.80. Veeva Systems Inc. has a 52-week low of $160.21 and a 52-week high of $225.49.

Veeva Systems (NYSE:VEEVGet Free Report) last issued its earnings results on Wednesday, December 6th. The technology company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.05. The firm had revenue of $616.51 million for the quarter, compared to the consensus estimate of $615.98 million. Veeva Systems had a net margin of 24.68% and a return on equity of 10.91%. The business’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.69 earnings per share. On average, analysts forecast that Veeva Systems Inc. will post 2.84 earnings per share for the current fiscal year.

Insider Transactions at Veeva Systems

In other news, Director Timothy S. Cabral sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $168.74, for a total transaction of $1,687,400.00. Following the completion of the transaction, the director now directly owns 43,391 shares of the company’s stock, valued at $7,321,797.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Timothy S. Cabral sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $168.74, for a total transaction of $1,687,400.00. Following the completion of the transaction, the director now directly owns 43,391 shares of the company’s stock, valued at $7,321,797.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Alan Mateo sold 6,280 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $193.72, for a total transaction of $1,216,561.60. Following the transaction, the executive vice president now directly owns 19,769 shares of the company’s stock, valued at $3,829,650.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,099 shares of company stock worth $9,714,244. Corporate insiders own 10.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on VEEV. Barclays decreased their price objective on shares of Veeva Systems from $220.00 to $213.00 and set an “overweight” rating on the stock in a research report on Thursday, December 7th. The Goldman Sachs Group decreased their price objective on shares of Veeva Systems from $244.00 to $216.00 and set a “buy” rating on the stock in a research report on Monday, November 13th. KeyCorp boosted their price objective on shares of Veeva Systems from $210.00 to $232.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. StockNews.com lowered shares of Veeva Systems from a “buy” rating to a “hold” rating in a research note on Thursday, November 23rd. Finally, Morgan Stanley cut their target price on shares of Veeva Systems from $181.00 to $160.00 and set an “underweight” rating on the stock in a research note on Monday, November 13th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $217.18.

Get Our Latest Research Report on VEEV

Veeva Systems Company Profile

(Free Report)

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.

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

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