Harvest Fund Management Co. Ltd Makes New Investment in Veeva Systems Inc. (NYSE:VEEV)

Harvest Fund Management Co. Ltd purchased a new position in shares of Veeva Systems Inc. (NYSE:VEEV) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 232 shares of the technology company’s stock, valued at approximately $49,000.

A number of other large investors also recently bought and sold shares of the stock. Daiwa Securities Group Inc. raised its stake in Veeva Systems by 69.8% during the third quarter. Daiwa Securities Group Inc. now owns 18,006 shares of the technology company’s stock worth $3,779,000 after purchasing an additional 7,400 shares during the period. Centaurus Financial Inc. raised its stake in Veeva Systems by 28.1% during the third quarter. Centaurus Financial Inc. now owns 1,335 shares of the technology company’s stock worth $280,000 after purchasing an additional 293 shares during the period. Larson Financial Group LLC raised its stake in Veeva Systems by 70.5% during the third quarter. Larson Financial Group LLC now owns 1,604 shares of the technology company’s stock worth $337,000 after purchasing an additional 663 shares during the period. Algert Global LLC raised its stake in Veeva Systems by 64.0% during the third quarter. Algert Global LLC now owns 2,254 shares of the technology company’s stock worth $473,000 after purchasing an additional 880 shares during the period. Finally, Leelyn Smith LLC raised its stake in Veeva Systems by 8.4% during the third quarter. Leelyn Smith LLC now owns 7,512 shares of the technology company’s stock worth $1,577,000 after purchasing an additional 584 shares during the period. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Price Performance

Shares of VEEV stock opened at $226.76 on Thursday. The firm has a market cap of $36.72 billion, a P/E ratio of 60.47, a P/E/G ratio of 2.19 and a beta of 0.81. Veeva Systems Inc. has a 1-year low of $165.12 and a 1-year high of $240.68. The firm has a fifty day moving average of $215.20 and a two-hundred day moving average of $201.66.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Wednesday, August 28th. The technology company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.03. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. The company had revenue of $676.18 million during the quarter, compared to analyst estimates of $667.21 million. On average, sell-side analysts expect that Veeva Systems Inc. will post 4.21 EPS for the current year.

Insider Transactions at Veeva Systems

In other news, insider Thomas D. Schwenger sold 1,126 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $240.01, for a total value of $270,251.26. Following the transaction, the insider now directly owns 27,013 shares in the company, valued at approximately $6,483,390.13. This trade represents a 4.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 10.50% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on VEEV. Royal Bank of Canada increased their price target on shares of Veeva Systems from $250.00 to $275.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Needham & Company LLC reissued a “buy” rating and issued a $260.00 price objective on shares of Veeva Systems in a research report on Friday, November 8th. Scotiabank initiated coverage on shares of Veeva Systems in a research report on Monday, November 18th. They issued a “sector perform” rating and a $235.00 price objective for the company. Barclays increased their price objective on shares of Veeva Systems from $240.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Finally, BNP Paribas initiated coverage on shares of Veeva Systems in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $286.00 price objective for the company. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Veeva Systems has a consensus rating of “Moderate Buy” and an average price target of $236.92.

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.