SG Americas Securities LLC Boosts Stake in Veeva Systems Inc. (NYSE:VEEV)

SG Americas Securities LLC increased its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 226.2% in the first quarter, HoldingsChannel.com reports. The firm owned 44,983 shares of the technology company’s stock after buying an additional 31,191 shares during the period. SG Americas Securities LLC’s holdings in Veeva Systems were worth $10,419,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Centricity Wealth Management LLC purchased a new position in shares of Veeva Systems during the 4th quarter worth approximately $25,000. Smithfield Trust Co boosted its position in Veeva Systems by 145.5% in the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock valued at $27,000 after buying an additional 80 shares during the period. Avion Wealth boosted its position in Veeva Systems by 635.0% in the 4th quarter. Avion Wealth now owns 147 shares of the technology company’s stock valued at $30,000 after buying an additional 127 shares during the period. Venturi Wealth Management LLC boosted its position in Veeva Systems by 2,716.7% in the 4th quarter. Venturi Wealth Management LLC now owns 169 shares of the technology company’s stock valued at $36,000 after buying an additional 163 shares during the period. Finally, Promus Capital LLC purchased a new position in Veeva Systems in the 4th quarter valued at approximately $36,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Wall Street Analyst Weigh In

VEEV has been the subject of several recent research reports. UBS Group raised their price target on shares of Veeva Systems from $250.00 to $285.00 and gave the company a “neutral” rating in a research report on Thursday, May 29th. Stifel Nicolaus raised their price target on shares of Veeva Systems from $272.00 to $295.00 and gave the company a “buy” rating in a research report on Thursday, May 29th. Mizuho raised their price target on shares of Veeva Systems from $280.00 to $295.00 and gave the company an “outperform” rating in a research report on Monday, June 2nd. Needham & Company LLC raised their price target on shares of Veeva Systems from $270.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, May 29th. Finally, KeyCorp reduced their price objective on shares of Veeva Systems from $260.00 to $250.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $269.80.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, Director Timothy S. Cabral sold 315 shares of Veeva Systems stock in a transaction on Friday, June 6th. The shares were sold at an average price of $289.72, for a total value of $91,261.80. Following the transaction, the director now directly owns 5,500 shares in the company, valued at approximately $1,593,460. The trade was a 5.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Jonathan Faddis sold 787 shares of Veeva Systems stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $226.20, for a total transaction of $178,019.40. Following the completion of the transaction, the senior vice president now owns 8,668 shares in the company, valued at approximately $1,960,701.60. This represents a 8.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,184 shares of company stock worth $1,376,179. 10.30% of the stock is owned by company insiders.

Veeva Systems Price Performance

Shares of NYSE:VEEV opened at $288.76 on Thursday. The company’s fifty day moving average price is $239.45 and its 200 day moving average price is $231.56. Veeva Systems Inc. has a 12 month low of $176.41 and a 12 month high of $291.68. The firm has a market capitalization of $46.98 billion, a P/E ratio of 71.30, a P/E/G ratio of 1.89 and a beta of 0.99.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings results on Wednesday, May 28th. The technology company reported $1.97 EPS for the quarter, topping the consensus estimate of $1.74 by $0.23. Veeva Systems had a net margin of 25.07% and a return on equity of 13.56%. The firm had revenue of $759.04 million for the quarter, compared to analyst estimates of $728.38 million. During the same period last year, the business earned $1.50 EPS. Veeva Systems’s revenue for the quarter was up 16.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Veeva Systems Inc. will post 4.35 EPS for the current year.

Veeva Systems 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.