Trust Co of Kansas Has $4.76 Million Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Trust Co of Kansas lifted its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 5.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,703 shares of the technology company’s stock after acquiring an additional 1,325 shares during the quarter. Veeva Systems accounts for about 2.6% of Trust Co of Kansas’ holdings, making the stock its 19th largest position. Trust Co of Kansas’ holdings in Veeva Systems were worth $4,756,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP grew its stake in shares of Veeva Systems by 9.6% during the third quarter. Wellington Management Group LLP now owns 3,315,304 shares of the technology company’s stock valued at $674,499,000 after buying an additional 289,133 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Veeva Systems by 34.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,045,414 shares of the technology company’s stock worth $416,139,000 after acquiring an additional 522,257 shares during the last quarter. FMR LLC raised its stake in Veeva Systems by 15.4% during the 3rd quarter. FMR LLC now owns 1,833,135 shares of the technology company’s stock valued at $372,951,000 after buying an additional 244,599 shares during the last quarter. Blair William & Co. IL grew its position in shares of Veeva Systems by 0.9% during the 3rd quarter. Blair William & Co. IL now owns 1,466,121 shares of the technology company’s stock valued at $298,282,000 after acquiring an additional 12,709 shares during the period. Finally, Van ECK Associates Corp grew its position in shares of Veeva Systems by 4.1% during the 3rd quarter. Van ECK Associates Corp now owns 1,447,403 shares of the technology company’s stock valued at $294,474,000 after acquiring an additional 57,520 shares during the period. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Up 1.5 %

Shares of NYSE:VEEV traded up $3.07 during trading on Tuesday, hitting $202.13. The stock had a trading volume of 527,682 shares, compared to its average volume of 975,890. Veeva Systems Inc. has a 12 month low of $160.21 and a 12 month high of $236.90. The company has a market capitalization of $32.61 billion, a PE ratio of 61.85, a PEG ratio of 2.00 and a beta of 0.74. The firm’s fifty day moving average is $220.78 and its 200 day moving average is $202.82.

Veeva Systems (NYSE:VEEV) last released 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. The firm had revenue of $630.62 million for the quarter, compared to the consensus estimate of $620.75 million. Veeva Systems had a return on equity of 11.26% and a net margin of 22.24%. Equities research analysts expect that Veeva Systems Inc. will post 4.11 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Jonathan Faddis sold 3,598 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $207.42, for a total value of $746,297.16. Following the transaction, the senior vice president now owns 10,668 shares of the company’s stock, valued at $2,212,756.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Veeva Systems news, Director Timothy S. Cabral sold 15,000 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $226.04, for a total value of $3,390,600.00. Following the completion of the sale, the director now owns 23,391 shares of the company’s stock, valued at $5,287,301.64. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Jonathan Faddis sold 3,598 shares of Veeva Systems stock in a transaction dated Monday, April 15th. The stock was 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 disclosure for this sale can be found here. 10.98% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on VEEV shares. Piper Sandler increased their price objective on shares of Veeva Systems from $220.00 to $245.00 and gave the company an “overweight” rating in a research note on Friday, March 1st. Citigroup increased their price target on shares of Veeva Systems from $240.00 to $264.00 and gave the company a “buy” rating in a report on Friday, March 1st. KeyCorp raised their target price on shares of Veeva Systems from $232.00 to $250.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 5th. Stifel Nicolaus boosted their target price on shares of Veeva Systems from $205.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $225.00 price objective on shares of Veeva Systems in a research note on Thursday, February 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $234.90.

Veeva Systems 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.