Veeva Systems Inc. (NYSE:VEEV) Shares Acquired by Lyell Wealth Management LP

Lyell Wealth Management LP increased its position in Veeva Systems Inc. (NYSE:VEEV) by 8.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,893 shares of the technology company’s stock after buying an additional 4,297 shares during the period. Veeva Systems comprises 1.2% of Lyell Wealth Management LP’s portfolio, making the stock its 25th largest holding. Lyell Wealth Management LP’s holdings in Veeva Systems were worth $10,953,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. OFI Invest Asset Management purchased a new stake in Veeva Systems in the third quarter valued at approximately $25,000. Operose Advisors LLC purchased a new stake in Veeva Systems in the third quarter valued at approximately $29,000. Parkside Financial Bank & Trust grew its holdings in Veeva Systems by 81.9% in the third quarter. Parkside Financial Bank & Trust now owns 171 shares of the technology company’s stock valued at $35,000 after purchasing an additional 77 shares during the period. Atticus Wealth Management LLC grew its holdings in Veeva Systems by 500.0% in the third quarter. Atticus Wealth Management LLC now owns 180 shares of the technology company’s stock valued at $37,000 after purchasing an additional 150 shares during the period. Finally, Nkcfo LLC grew its stake in Veeva Systems by 54.7% during the third quarter. Nkcfo LLC now owns 232 shares of the technology company’s stock worth $47,000 after buying an additional 82 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on VEEV. Needham & Company LLC reiterated a “buy” rating and set a $260.00 price objective on shares of Veeva Systems in a research note on Tuesday, April 2nd. Citigroup boosted their price objective on shares of Veeva Systems from $240.00 to $264.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. StockNews.com upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. KeyCorp upped their target price on shares of Veeva Systems from $232.00 to $250.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th. Finally, Robert W. Baird upped their target price on shares of Veeva Systems from $245.00 to $251.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, Veeva Systems has an average rating of “Moderate Buy” and an average price target of $234.90.

Veeva Systems Stock Down 0.3 %

Shares of NYSE:VEEV traded down $0.52 on Wednesday, reaching $200.58. 550,220 shares of the company’s stock were exchanged, compared to its average volume of 975,580. The firm has a market capitalization of $32.36 billion, a price-to-earnings ratio of 62.29, a PEG ratio of 2.01 and a beta of 0.74. Veeva Systems Inc. has a fifty-two week low of $160.21 and a fifty-two week high of $236.90. The business’s 50-day moving average is $220.12 and its two-hundred day moving average is $202.74.

Veeva Systems (NYSE:VEEV) last issued its earnings results on Thursday, February 29th. The technology company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.11. The company had revenue of $630.62 million for the quarter, compared to analysts’ expectations of $620.75 million. Veeva Systems had a net margin of 22.24% and a return on equity of 11.26%. Analysts predict that Veeva Systems Inc. will post 4.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Timothy S. Cabral sold 15,000 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $226.04, for a total transaction of $3,390,600.00. Following the completion of the transaction, the director now owns 23,391 shares in the company, valued at $5,287,301.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Jonathan Faddis sold 3,598 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $207.42, for a total transaction of $746,297.16. Following the completion of the transaction, the senior vice president now owns 10,668 shares in the company, valued at $2,212,756.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Timothy S. Cabral sold 15,000 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $226.04, for a total transaction of $3,390,600.00. Following the completion of the transaction, the director now owns 23,391 shares of the company’s stock, valued at approximately $5,287,301.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,989 shares of company stock valued at $4,818,013. Company insiders own 10.98% of the company’s stock.

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.