RMB Capital Management LLC Boosts Holdings in Veeva Systems Inc. (NYSE:VEEV)

RMB Capital Management LLC boosted its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 3.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 4,961 shares of the technology company’s stock after purchasing an additional 150 shares during the period. RMB Capital Management LLC’s holdings in Veeva Systems were worth $1,296,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of VEEV. MUFG Americas Holdings Corp purchased a new position in Veeva Systems during the 4th quarter worth $26,000. CIBC Asset Management Inc boosted its holdings in shares of Veeva Systems by 4.0% in the fourth quarter. CIBC Asset Management Inc now owns 11,105 shares of the technology company’s stock valued at $3,023,000 after acquiring an additional 428 shares in the last quarter. Braun Stacey Associates Inc. purchased a new stake in shares of Veeva Systems in the fourth quarter valued at about $368,000. Galvin Gaustad & Stein LLC purchased a new stake in shares of Veeva Systems in the fourth quarter valued at about $368,000. Finally, National Asset Management Inc. boosted its holdings in shares of Veeva Systems by 141.4% in the fourth quarter. National Asset Management Inc. now owns 15,943 shares of the technology company’s stock valued at $4,341,000 after acquiring an additional 9,339 shares in the last quarter. 77.55% of the stock is currently owned by institutional investors.

NYSE:VEEV opened at $294.98 on Friday. The firm has a 50 day moving average price of $270.67. The firm has a market capitalization of $44.90 billion, a price-to-earnings ratio of 124.99, a PEG ratio of 8.26 and a beta of 0.74. Veeva Systems Inc. has a 1-year low of $210.75 and a 1-year high of $325.54.

Veeva Systems (NYSE:VEEV) last released its earnings results on Wednesday, May 26th. The technology company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.13. Veeva Systems had a net margin of 25.94% and a return on equity of 16.09%. The firm had revenue of $433.57 million during the quarter, compared to the consensus estimate of $410.07 million. During the same period in the previous year, the firm earned $0.66 earnings per share. Veeva Systems’s revenue was up 28.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Veeva Systems Inc. will post 2.2 earnings per share for the current year.

In related news, SVP Jonathan Faddis sold 959 shares of the business’s stock in a transaction that occurred on Thursday, June 3rd. The shares were sold at an average price of $285.29, for a total value of $273,593.11. Following the completion of the sale, the senior vice president now directly owns 4,476 shares in the company, valued at $1,276,958.04. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Matthew J. Wallach sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 8th. The stock was sold at an average price of $295.10, for a total transaction of $1,475,500.00. Following the sale, the director now owns 6,311 shares of the company’s stock, valued at $1,862,376.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,525 shares of company stock valued at $3,729,620. 13.18% of the stock is owned by insiders.

Several brokerages have recently weighed in on VEEV. Raymond James reaffirmed a “buy” rating on shares of Veeva Systems in a report on Wednesday, March 31st. Piper Sandler raised their price objective on shares of Veeva Systems from $350.00 to $360.00 and gave the company an “overweight” rating in a research note on Friday, May 28th. Morgan Stanley raised their price objective on shares of Veeva Systems from $340.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, May 28th. Citigroup raised their price objective on shares of Veeva Systems from $335.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, May 28th. Finally, DA Davidson raised their price objective on shares of Veeva Systems from $325.00 to $350.00 in a research note on Wednesday, March 3rd. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company. Veeva Systems presently has an average rating of “Buy” and an average price target of $311.65.

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 software, data, and analytics solutions, which include Veeva customer relationship management (CRM) and Veeva Medical CRM, Veeva CLM, Veeva CRM Approved Email, Veeva CRM Engage, Veeva Align, Veeva CRM Events Management, Veeva Nitro, Veeva Andi, Veeva OpenData, Veeva Link, Veeva Network Customer Master, Veeva Crossix, Veeva Data Cloud, and MyVeeva for Doctors; and Veeva Vault, a cloud-based enterprise content and data management applications for managing commercial functions, including sales and marketing, and medical content and communications, 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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