Veeva Systems Inc. (NYSE:VEEV) Stake Boosted by Clean Yield Group

Clean Yield Group boosted its stake in Veeva Systems Inc. (NYSE:VEEV) by 32.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,020 shares of the technology company’s stock after buying an additional 5,433 shares during the period. Veeva Systems accounts for approximately 1.7% of Clean Yield Group’s investment portfolio, making the stock its 18th largest holding. Clean Yield Group’s holdings in Veeva Systems were worth $5,100,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Centricity Wealth Management LLC acquired a new position in shares of Veeva Systems during the fourth quarter valued at $25,000. Smithfield Trust Co raised its stake in shares of Veeva Systems by 145.5% during the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock worth $27,000 after purchasing an additional 80 shares in the last quarter. Avion Wealth raised its stake in shares of 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 acquiring an additional 127 shares in the last quarter. Venturi Wealth Management LLC raised its stake in shares of 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 acquiring an additional 163 shares in the last quarter. Finally, Promus Capital LLC bought a new position in Veeva Systems in the 4th quarter worth approximately $36,000. 88.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Veeva Systems news, SVP Jonathan Faddis sold 787 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total value of $178,019.40. Following the sale, the senior vice president now owns 8,668 shares in the company, valued at approximately $1,960,701.60. The trade was a 8.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Thomas D. Schwenger sold 1,200 shares of the company’s stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $220.97, for a total value of $265,164.00. Following the completion of the sale, the insider now owns 25,889 shares in the company, valued at $5,720,692.33. This trade represents a 4.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,869 shares of company stock worth $1,284,917 in the last 90 days. Insiders own 10.30% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Barclays lifted their price objective on Veeva Systems from $285.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday, May 29th. KeyCorp decreased their target price on Veeva Systems from $260.00 to $250.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Stifel Nicolaus increased their target price on Veeva Systems from $272.00 to $295.00 and gave the stock a “buy” rating in a report on Thursday, May 29th. Scotiabank upped their price target on Veeva Systems from $240.00 to $245.00 and gave the company a “sector perform” rating in a research note on Thursday, March 6th. Finally, Morgan Stanley increased their target price on Veeva Systems from $201.00 to $210.00 and gave the company 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 sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $269.80.

Veeva Systems Price Performance

Shares of NYSE VEEV opened at $285.08 on Friday. The stock has a market capitalization of $46.38 billion, a PE ratio of 70.39, a P/E/G ratio of 1.89 and a beta of 0.99. The business has a fifty day moving average price of $235.57 and a two-hundred day moving average price of $230.21. Veeva Systems Inc. has a fifty-two week low of $176.41 and a fifty-two week high of $291.68.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Wednesday, May 28th. The technology company reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.23. Veeva Systems had a return on equity of 13.56% and a net margin of 25.07%. The firm had revenue of $759.04 million during the quarter, compared to analysts’ expectations of $728.38 million. During the same period in the previous year, the firm earned $1.50 EPS. The company’s quarterly revenue was up 16.7% compared to the same quarter last year. On average, equities analysts expect that Veeva Systems Inc. will post 4.35 EPS for the current 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.