Marshall Financial Group LLC Boosts Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Marshall Financial Group LLC increased its stake in Veeva Systems Inc. (NYSE:VEEV) by 4.2% during the first quarter, according to its most recent filing with the SEC. The fund owned 4,245 shares of the technology company’s stock after buying an additional 172 shares during the quarter. Marshall Financial Group LLC’s holdings in Veeva Systems were worth $1,109,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. MUFG Americas Holdings Corp purchased a new position in shares of Veeva Systems in the 4th quarter worth about $26,000. Graves Light Private Wealth Management Inc. bought a new stake in Veeva Systems in the 4th quarter valued at about $27,000. Financial Avengers Inc. bought a new stake in Veeva Systems in the 4th quarter valued at about $27,000. RMR Wealth Builders bought a new stake in Veeva Systems in the 4th quarter valued at about $33,000. Finally, Capital Asset Advisory Services LLC bought a new stake in Veeva Systems in the 4th quarter valued at about $34,000. 77.54% of the stock is currently owned by institutional investors.

A number of equities research analysts recently issued reports on the company. Needham & Company LLC boosted their price objective on Veeva Systems from $327.00 to $336.00 and gave the company a “buy” rating in a research note on Tuesday, March 9th. KeyCorp boosted their price objective on Veeva Systems from $332.00 to $353.00 and gave the company an “overweight” rating in a research note on Wednesday, February 17th. Raymond James restated a “buy” rating on shares of Veeva Systems in a research note on Wednesday, March 31st. DA Davidson boosted their price objective on Veeva Systems from $325.00 to $350.00 in a research note on Wednesday, March 3rd. Finally, Truist upped their price target on Veeva Systems from $320.00 to $355.00 in a research report on Wednesday, March 3rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $299.04.

In other Veeva Systems news, EVP Alan Mateo sold 2,666 shares of the company’s stock in a transaction that occurred on Friday, February 5th. The stock was sold at an average price of $290.21, for a total value of $773,699.86. Following the completion of the sale, the executive vice president now owns 4,610 shares of the company’s stock, valued at $1,337,868.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Frederic Lequient sold 313 shares of the company’s stock in a transaction that occurred on Friday, March 12th. The stock was sold at an average price of $256.66, for a total value of $80,334.58. Following the completion of the sale, the senior vice president now directly owns 562 shares of the company’s stock, valued at approximately $144,242.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,545 shares of company stock valued at $2,836,392. 14.38% of the stock is owned by insiders.

Shares of NYSE VEEV opened at $281.34 on Thursday. Veeva Systems Inc. has a 12 month low of $178.35 and a 12 month high of $325.54. The firm has a market capitalization of $42.83 billion, a price-to-earnings ratio of 128.41, a PEG ratio of 9.41 and a beta of 0.84. The business has a 50-day moving average of $261.54 and a 200-day moving average of $278.68.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Monday, March 1st. The technology company reported $0.78 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.10. The company had revenue of $396.80 million during the quarter, compared to analyst estimates of $380.20 million. Veeva Systems had a return on equity of 15.73% and a net margin of 24.88%. Veeva Systems’s revenue was up 27.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.54 earnings per share. As a group, analysts anticipate that Veeva Systems Inc. will post 1.95 EPS for the current year.

Veeva Systems Company Profile

Veeva Systems Inc provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, the Middle East, Africa, and Latin America. The company offers Veeva Commercial Cloud, a suite of multichannel customer relationship management applications, commercial data warehouse, allocation and alignment applications, master data management application, and data and services; and Veeva Vault, a cloud-based enterprise content and data management applications for managing commercial functions, including medical, sales, and marketing, as well as research and development functions, such as clinical, regulatory, quality, and safety.

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Institutional Ownership by Quarter for Veeva Systems (NYSE:VEEV)

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