Hunter Associates Investment Management LLC Boosts Holdings in Veeva Systems Inc. (NYSE:VEEV)

Hunter Associates Investment Management LLC raised its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 8.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,163 shares of the technology company’s stock after purchasing an additional 90 shares during the period. Hunter Associates Investment Management LLC’s holdings in Veeva Systems were worth $228,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in VEEV. OFI Invest Asset Management purchased a new position in shares of Veeva Systems in the third quarter worth about $25,000. Operose Advisors LLC purchased a new position in shares of Veeva Systems in the third quarter worth about $29,000. Resurgent Financial Advisors LLC purchased a new position in shares of Veeva Systems in the fourth quarter worth about $33,000. Parkside Financial Bank & Trust lifted its stake in shares of Veeva Systems by 81.9% in the third quarter. Parkside Financial Bank & Trust now owns 171 shares of the technology company’s stock worth $35,000 after buying an additional 77 shares in the last quarter. Finally, Atticus Wealth Management LLC lifted its stake in shares of Veeva Systems by 500.0% in the third quarter. Atticus Wealth Management LLC now owns 180 shares of the technology company’s stock worth $37,000 after buying an additional 150 shares in the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, COO Thomas D. Schwenger sold 1,238 shares of Veeva Systems stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $210.02, for a total value of $260,004.76. Following the completion of the transaction, the chief operating officer now owns 24,342 shares in the company, valued at $5,112,306.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, COO Thomas D. Schwenger sold 1,238 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $210.02, for a total transaction of $260,004.76. Following the completion of the sale, the chief operating officer now owns 24,342 shares in the company, valued at approximately $5,112,306.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jonathan Faddis sold 3,598 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $207.42, for a total transaction of $746,297.16. Following the sale, the senior vice president now owns 10,668 shares of the company’s stock, valued at approximately $2,212,756.56. The disclosure for this sale can be found here. Insiders sold 19,836 shares of company stock worth $4,396,902 over the last 90 days. 10.98% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms recently issued reports on VEEV. The Goldman Sachs Group raised 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. Raymond James restated an “outperform” rating and set a $260.00 price objective on shares of Veeva Systems in a research report on Tuesday, March 26th. UBS Group raised their price objective on shares of Veeva Systems from $185.00 to $235.00 and gave the stock a “neutral” rating in a research report on Monday, February 26th. Truist Financial raised their price objective on shares of Veeva Systems from $187.00 to $203.00 and gave the stock a “hold” rating in a research report on Friday, March 1st. Finally, Jefferies Financial Group raised 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. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $234.90.

Veeva Systems Stock Down 0.6 %

Veeva Systems stock traded down $1.16 during trading on Friday, reaching $198.38. The stock had a trading volume of 735,422 shares, compared to its average volume of 955,618. Veeva Systems Inc. has a 52-week low of $160.21 and a 52-week high of $236.90. The business has a 50 day moving average price of $221.17 and a 200 day moving average price of $202.80. The stock has a market cap of $32.00 billion, a PE ratio of 61.61, a P/E/G ratio of 2.02 and a beta of 0.74.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings results on Thursday, February 29th. The technology company reported $0.92 earnings per share (EPS) for the quarter, topping 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 company had revenue of $630.62 million during the quarter, compared to the consensus estimate of $620.75 million. On average, equities analysts predict that Veeva Systems Inc. will post 4.11 EPS for the current fiscal year.

About Veeva Systems

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.