Van ECK Associates Corp Buys 327,662 Shares of Veeva Systems Inc. (NYSE:VEEV)

Van ECK Associates Corp increased its position in Veeva Systems Inc. (NYSE:VEEV) by 22.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,775,065 shares of the technology company’s stock after acquiring an additional 327,662 shares during the quarter. Van ECK Associates Corp’s holdings in Veeva Systems were worth $341,736,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of VEEV. Capital Investment Counsel Inc grew its position in Veeva Systems by 82.8% during the fourth quarter. Capital Investment Counsel Inc now owns 5,970 shares of the technology company’s stock worth $1,149,000 after buying an additional 2,705 shares in the last quarter. Paradigm Financial Partners LLC grew its holdings in shares of Veeva Systems by 8.5% during the fourth quarter. Paradigm Financial Partners LLC now owns 1,603 shares of the technology company’s stock worth $309,000 after purchasing an additional 126 shares in the last quarter. Pursue Wealth Partners LLC bought a new position in shares of Veeva Systems in the fourth quarter worth approximately $528,000. Unique Wealth Strategies LLC purchased a new stake in Veeva Systems in the fourth quarter valued at approximately $559,000. Finally, Motley Fool Asset Management LLC lifted its position in Veeva Systems by 6.3% during the fourth quarter. Motley Fool Asset Management LLC now owns 4,776 shares of the technology company’s stock valued at $919,000 after purchasing an additional 282 shares during the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Insider Buying and Selling

In other Veeva Systems news, EVP Alan Mateo sold 3,391 shares of Veeva Systems stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $200.86, for a total transaction of $681,116.26. Following the sale, the executive vice president now directly owns 21,983 shares of the company’s stock, valued at approximately $4,415,505.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, SVP Jonathan Faddis sold 3,598 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $207.42, for a total value of $746,297.16. Following the sale, the senior vice president now directly owns 10,668 shares of the company’s stock, valued at approximately $2,212,756.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Alan Mateo sold 3,391 shares of Veeva Systems stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $200.86, for a total transaction of $681,116.26. Following the transaction, the executive vice president now directly owns 21,983 shares of the company’s stock, valued at $4,415,505.38. The disclosure for this sale can be found here. Insiders sold a total of 21,989 shares of company stock valued at $4,818,013 over the last three months. Corporate insiders own 10.98% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on VEEV shares. The Goldman Sachs Group increased their price target on shares of Veeva Systems from $219.00 to $248.00 and gave the stock a “buy” rating in a report on Friday, March 1st. Royal Bank of Canada restated an “outperform” rating and set a $250.00 price target on shares of Veeva Systems in a research report on Wednesday, March 27th. Barclays upped their price objective on Veeva Systems from $240.00 to $245.00 and gave the stock an “overweight” rating in a report on Friday, March 1st. Piper Sandler raised their price objective on Veeva Systems from $220.00 to $245.00 and gave the company an “overweight” rating in a report on Friday, March 1st. Finally, JPMorgan Chase & Co. boosted their target price on Veeva Systems from $183.00 to $222.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 13th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $234.90.

Veeva Systems Trading Up 0.3 %

NYSE VEEV traded up $0.66 on Monday, hitting $201.57. The company’s stock had a trading volume of 814,814 shares, compared to its average volume of 968,906. The firm has a market cap of $32.52 billion, a P/E ratio of 62.39, a PEG ratio of 2.03 and a beta of 0.74. Veeva Systems Inc. has a 52-week low of $160.21 and a 52-week high of $236.90. The company’s 50-day simple moving average is $219.27 and its 200 day simple moving average is $202.45.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings results on Thursday, February 29th. The technology company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.11. The company had revenue of $630.62 million during the quarter, compared to analyst estimates of $620.75 million. Veeva Systems had a return on equity of 11.26% and a net margin of 22.24%. On average, research analysts forecast that Veeva Systems Inc. will post 4.11 EPS for the current fiscal year.

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.