Y.D. More Investments Ltd Acquires New Holdings in Veeva Systems Inc. (NYSE:VEEV)

Y.D. More Investments Ltd bought a new position in shares of Veeva Systems Inc. (NYSE:VEEV) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 13,789 shares of the technology company’s stock, valued at approximately $2,655,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its position in Veeva Systems by 9.6% during the 3rd quarter. Wellington Management Group LLP now owns 3,315,304 shares of the technology company’s stock worth $674,499,000 after purchasing an additional 289,133 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Veeva Systems by 34.3% during the third 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 lifted its stake in shares of Veeva Systems by 15.4% in the third quarter. FMR LLC now owns 1,833,135 shares of the technology company’s stock worth $372,951,000 after acquiring an additional 244,599 shares during the period. Van ECK Associates Corp boosted its holdings in Veeva Systems by 22.6% in the fourth quarter. Van ECK Associates Corp now owns 1,775,065 shares of the technology company’s stock valued at $341,736,000 after acquiring an additional 327,662 shares during the last quarter. Finally, Blair William & Co. IL increased its position in 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 purchasing an additional 12,709 shares during the period. 88.20% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on VEEV shares. Truist Financial increased 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. Robert W. Baird boosted their price objective on Veeva Systems from $245.00 to $251.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. Jefferies Financial Group raised their target price on Veeva Systems from $225.00 to $270.00 and gave the stock a “buy” rating in a research note on Monday, March 4th. Stifel Nicolaus boosted their price target on Veeva Systems from $205.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 price objective on shares of Veeva Systems in a research report on Wednesday, March 27th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $234.90.

Insider Transactions at Veeva Systems

In other Veeva Systems news, EVP Alan Mateo sold 3,391 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $200.86, for a total transaction of $681,116.26. Following the completion of the sale, the executive vice president now directly owns 21,983 shares in the company, valued at approximately $4,415,505.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, SVP Jonathan Faddis sold 3,598 shares of the stock in a transaction 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 directly owns 10,668 shares of the company’s stock, valued at $2,212,756.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Alan Mateo sold 3,391 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $200.86, for a total transaction of $681,116.26. Following the transaction, the executive vice president now directly owns 21,983 shares of the company’s stock, valued at $4,415,505.38. The disclosure for this sale can be found here. Insiders sold a total of 21,989 shares of company stock valued at $4,818,013 in the last quarter. 10.98% of the stock is owned by insiders.

Veeva Systems Stock Up 0.2 %

Veeva Systems stock traded up $0.34 during midday trading on Wednesday, hitting $198.90. 618,059 shares of the stock were exchanged, compared to its average volume of 959,735. Veeva Systems Inc. has a 52-week low of $160.21 and a 52-week high of $236.90. The business’s 50-day moving average price is $218.51 and its 200-day moving average price is $202.22. The stock has a market capitalization of $32.09 billion, a price-to-earnings ratio of 61.66, a price-to-earnings-growth ratio of 2.04 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 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 for the quarter, compared to the consensus estimate of $620.75 million. On average, sell-side analysts predict that Veeva Systems Inc. will post 4.11 earnings per share 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.