Lyell Wealth Management LP Buys 4,297 Shares of Veeva Systems Inc. (NYSE:VEEV)

Lyell Wealth Management LP raised its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 8.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 56,893 shares of the technology company’s stock after purchasing an additional 4,297 shares during the period. Veeva Systems accounts for approximately 1.2% of Lyell Wealth Management LP’s holdings, making the stock its 25th biggest position. Lyell Wealth Management LP’s holdings in Veeva Systems were worth $10,953,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Invesco Ltd. lifted its holdings in shares of Veeva Systems by 239.7% in the 3rd quarter. Invesco Ltd. now owns 956,355 shares of the technology company’s stock valued at $194,570,000 after acquiring an additional 674,785 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Veeva Systems by 34.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,045,414 shares of the technology company’s stock valued at $416,139,000 after acquiring an additional 522,257 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Veeva Systems by 9.6% in the 3rd quarter. Wellington Management Group LLP now owns 3,315,304 shares of the technology company’s stock valued at $674,499,000 after acquiring an additional 289,133 shares during the last quarter. FMR LLC lifted its holdings in shares of Veeva Systems by 15.4% in the 3rd quarter. FMR LLC now owns 1,833,135 shares of the technology company’s stock valued at $372,951,000 after acquiring an additional 244,599 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in shares of Veeva Systems by 16,580.5% in the 4th quarter. International Assets Investment Management LLC now owns 187,322 shares of the technology company’s stock valued at $36,063,000 after acquiring an additional 186,199 shares during the last quarter. Institutional investors own 88.20% of the company’s stock.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, Director Timothy S. Cabral sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $226.04, for a total value of $3,390,600.00. Following the completion of the sale, the director now directly owns 23,391 shares in the company, valued at $5,287,301.64. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Veeva Systems news, EVP Alan Mateo sold 3,391 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $200.86, for a total value of $681,116.26. Following the completion of the sale, the executive vice president now directly owns 21,983 shares in the company, valued at $4,415,505.38. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Timothy S. Cabral sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $226.04, for a total transaction of $3,390,600.00. Following the completion of the sale, the director now owns 23,391 shares of the company’s stock, valued at $5,287,301.64. The disclosure for this sale can be found here. Insiders sold a total of 21,989 shares of company stock worth $4,818,013 over the last three months. Corporate insiders own 10.98% of the company’s stock.

Veeva Systems Stock Down 0.3 %

Shares of NYSE VEEV traded down $0.52 during midday trading on Wednesday, reaching $200.58. 550,220 shares of the company’s stock traded hands, compared to its average volume of 975,580. The stock’s 50 day simple moving average is $220.12 and its 200-day simple moving average is $202.74. Veeva Systems Inc. has a one year low of $160.21 and a one year high of $236.90. The company has a market cap of $32.36 billion, a price-to-earnings ratio of 62.29, a P/E/G ratio of 2.01 and a beta of 0.74.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Thursday, February 29th. The technology company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.11. Veeva Systems had a net margin of 22.24% and a return on equity of 11.26%. The firm had revenue of $630.62 million for the quarter, compared to the consensus estimate of $620.75 million. Equities analysts predict that Veeva Systems Inc. will post 4.11 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on VEEV shares. Barclays increased their price objective on shares of Veeva Systems from $240.00 to $245.00 and gave the stock an “overweight” rating in a research report on Friday, March 1st. Robert W. Baird increased their price objective on shares of Veeva Systems from $245.00 to $251.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. Raymond James reissued an “outperform” rating and issued a $260.00 price objective on shares of Veeva Systems in a research report on Tuesday, March 26th. Jefferies Financial Group increased their price objective on shares of Veeva Systems from $225.00 to $270.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. Finally, The Goldman Sachs Group increased their price objective on shares of Veeva Systems from $219.00 to $248.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $234.90.

Veeva Systems Company 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.