Veeva Systems Inc. $VEEV Shares Purchased by Sand Hill Global Advisors LLC

Sand Hill Global Advisors LLC boosted its stake in Veeva Systems Inc. (NYSE:VEEV) by 8.3% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 52,869 shares of the technology company’s stock after purchasing an additional 4,049 shares during the period. Sand Hill Global Advisors LLC’s holdings in Veeva Systems were worth $12,246,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Northern Trust Corp increased its holdings in shares of Veeva Systems by 5.3% during the first quarter. Northern Trust Corp now owns 1,057,186 shares of the technology company’s stock valued at $244,876,000 after purchasing an additional 53,000 shares during the period. Cresset Asset Management LLC acquired a new position in shares of Veeva Systems during the first quarter valued at $1,115,000. Global Endowment Management LP acquired a new position in shares of Veeva Systems during the first quarter valued at $487,000. American Century Companies Inc. increased its holdings in shares of Veeva Systems by 12.2% during the first quarter. American Century Companies Inc. now owns 472,835 shares of the technology company’s stock valued at $109,523,000 after purchasing an additional 51,565 shares during the period. Finally, Ethic Inc. increased its holdings in shares of Veeva Systems by 22.4% during the first quarter. Ethic Inc. now owns 16,927 shares of the technology company’s stock valued at $3,858,000 after purchasing an additional 3,098 shares during the period. 88.20% of the stock is owned by institutional investors and hedge funds.

Veeva Systems Trading Up 1.9%

VEEV opened at $280.18 on Monday. The stock has a market cap of $45.78 billion, a PE ratio of 59.36, a P/E/G ratio of 2.22 and a beta of 0.95. Veeva Systems Inc. has a 1 year low of $190.69 and a 1 year high of $296.72. The stock’s 50 day simple moving average is $282.25 and its 200-day simple moving average is $250.97.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Wednesday, May 28th. The technology company reported $1.97 earnings per share (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 business had revenue of $759.04 million for the quarter, compared to analysts’ expectations of $728.38 million. During the same period in the previous year, the business posted $1.50 earnings per share. Veeva Systems’s quarterly revenue was up 16.7% on a year-over-year basis. Equities analysts forecast that Veeva Systems Inc. will post 4.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

VEEV has been the topic of a number of research analyst reports. Mizuho raised their price target on Veeva Systems from $280.00 to $295.00 and gave the company an “outperform” rating in a report on Monday, June 2nd. Stifel Nicolaus lifted their price target on Veeva Systems from $272.00 to $295.00 and gave the stock a “buy” rating in a research note on Thursday, May 29th. KeyCorp lifted their price target on Veeva Systems from $285.00 to $325.00 and gave the stock an “overweight” rating in a research note on Monday, July 14th. Raymond James Financial lifted their price target on Veeva Systems from $285.00 to $310.00 and gave the stock an “outperform” rating in a research note on Thursday, May 29th. Finally, Morgan Stanley lifted their price target on Veeva Systems from $201.00 to $210.00 and gave the stock an “underweight” rating in a research note on Thursday, May 29th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $274.17.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 720 shares of the company’s stock in a transaction 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 sale, the senior vice president directly owned 7,902 shares in the company, valued at $2,256,969.24. This represents a 8.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Timothy S. Cabral sold 315 shares of the company’s 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 completion of the sale, the director owned 5,500 shares in the company, valued at $1,593,460. This trade represents a 5.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,378 shares of company stock worth $394,217 over the last three months. Company insiders own 10.30% of the company’s stock.

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.