GAMMA Investing LLC Has $97.81 Million Stock Position in Veeva Systems Inc. (NYSE:VEEV)

GAMMA Investing LLC grew its position in Veeva Systems Inc. (NYSE:VEEV) by 26,258.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 422,261 shares of the technology company’s stock after buying an additional 420,659 shares during the quarter. GAMMA Investing LLC owned approximately 0.26% of Veeva Systems worth $97,808,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in VEEV. Centricity Wealth Management LLC acquired a new position in shares of Veeva Systems in the fourth quarter worth about $25,000. Smithfield Trust Co boosted its holdings in shares of Veeva Systems by 145.5% during the fourth quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock worth $27,000 after purchasing an additional 80 shares during the period. Avion Wealth boosted its holdings in shares of Veeva Systems by 635.0% during the fourth quarter. Avion Wealth now owns 147 shares of the technology company’s stock worth $30,000 after purchasing an additional 127 shares during the period. Venturi Wealth Management LLC boosted its holdings in shares of Veeva Systems by 2,716.7% during the fourth quarter. Venturi Wealth Management LLC now owns 169 shares of the technology company’s stock worth $36,000 after purchasing an additional 163 shares during the period. Finally, Promus Capital LLC acquired a new stake in shares of Veeva Systems during the fourth quarter worth approximately $36,000. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on VEEV. Stephens restated an “overweight” rating and set a $280.00 price target on shares of Veeva Systems in a report on Thursday, March 6th. Robert W. Baird raised their price target on shares of Veeva Systems from $283.00 to $285.00 and gave the stock an “outperform” rating in a report on Thursday, March 6th. Morgan Stanley raised their price target on shares of Veeva Systems from $201.00 to $210.00 and gave the stock an “underweight” rating in a report on Thursday. Wells Fargo & Company raised their price target on shares of Veeva Systems from $285.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Stifel Nicolaus raised their price target on shares of Veeva Systems from $272.00 to $295.00 and gave the stock a “buy” rating in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $269.00.

Veeva Systems Stock Up 0.4%

NYSE:VEEV opened at $280.03 on Monday. Veeva Systems Inc. has a 12 month low of $171.10 and a 12 month high of $285.70. The firm has a market cap of $45.56 billion, a price-to-earnings ratio of 69.14, a P/E/G ratio of 1.89 and a beta of 0.96. The company’s 50 day moving average is $230.48 and its 200-day moving average is $227.81.

Veeva Systems (NYSE:VEEV) last released its quarterly 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 net margin of 25.07% and a return on equity of 13.56%. The company had revenue of $759.04 million for the quarter, compared to analyst estimates of $728.38 million. During the same quarter last year, the firm posted $1.50 earnings per share. The company’s quarterly revenue was up 16.7% compared to the same quarter last year. Research analysts predict that Veeva Systems Inc. will post 4.35 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Timothy S. Cabral sold 3,882 shares of the business’s stock in a transaction on Friday, April 4th. The shares were sold at an average price of $216.83, for a total transaction of $841,734.06. Following the transaction, the director now owns 5,500 shares of the company’s stock, valued at approximately $1,192,565. The trade was a 41.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Thomas D. Schwenger sold 1,200 shares of the business’s stock in a transaction on Monday, April 14th. The stock was sold at an average price of $220.97, for a total transaction of $265,164.00. Following the transaction, the insider now directly owns 25,889 shares in the company, valued at $5,720,692.33. This trade represents a 4.43% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,869 shares of company stock valued at $1,284,917. 10.30% of the stock is owned by company insiders.

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 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.