TimesSquare Capital Management LLC Buys 201,085 Shares of Veeva Systems Inc. (NYSE:VEEV)

TimesSquare Capital Management LLC increased its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 68.1% 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 496,404 shares of the technology company’s stock after buying an additional 201,085 shares during the period. Veeva Systems accounts for about 1.4% of TimesSquare Capital Management LLC’s investment portfolio, making the stock its 13th biggest holding. TimesSquare Capital Management LLC owned approximately 0.31% of Veeva Systems worth $95,568,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of VEEV. Sequoia Financial Advisors LLC grew its position in Veeva Systems by 703.8% in the fourth quarter. Sequoia Financial Advisors LLC now owns 15,594 shares of the technology company’s stock valued at $3,002,000 after acquiring an additional 13,654 shares during the last quarter. Nordea Investment Management AB boosted its position in Veeva Systems by 5.2% in the fourth quarter. Nordea Investment Management AB now owns 163,247 shares of the technology company’s stock worth $31,730,000 after purchasing an additional 8,007 shares during the last quarter. ICICI Prudential Asset Management Co Ltd boosted its position in Veeva Systems by 13.1% in the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 49,140 shares of the technology company’s stock worth $9,460,000 after purchasing an additional 5,674 shares during the last quarter. Lecap Asset Management Ltd. purchased a new position in shares of Veeva Systems during the 4th quarter valued at $2,668,000. Finally, Nisa Investment Advisors LLC lifted its holdings in Veeva Systems by 43.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 31,517 shares of the technology company’s stock worth $6,068,000 after purchasing an additional 9,490 shares in the last quarter. Institutional investors own 88.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on VEEV shares. Truist Financial raised their price target on 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 shares of Veeva Systems from $245.00 to $251.00 and gave the company an “outperform” rating in a report on Friday, March 1st. Citigroup upped their target price 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. Oppenheimer reiterated an “outperform” rating and issued a $225.00 price target on shares of Veeva Systems in a research report on Thursday, February 22nd. Finally, Stifel Nicolaus upped their target price on shares of Veeva Systems from $205.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $234.90.

Veeva Systems Stock Up 1.1 %

Shares of NYSE VEEV traded up $2.16 during mid-day trading on Thursday, hitting $203.93. 580,941 shares of the company traded hands, compared to its average volume of 939,153. The business has a 50 day moving average of $216.14 and a two-hundred day moving average of $202.11. The stock has a market capitalization of $32.90 billion, a price-to-earnings ratio of 63.33, a PEG ratio of 2.05 and a beta of 0.76. Veeva Systems Inc. has a 1 year low of $160.21 and a 1 year high of $236.90.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Thursday, February 29th. The technology company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.11. The business had revenue of $630.62 million for the quarter, compared to analyst estimates of $620.75 million. Veeva Systems had a return on equity of 11.26% and a net margin of 22.24%. As a group, research analysts anticipate that Veeva Systems Inc. will post 4.11 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Alan Mateo sold 3,391 shares of Veeva Systems 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 completion of the sale, the executive vice president now owns 21,983 shares in the company, valued at approximately $4,415,505.38. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Timothy S. Cabral sold 15,000 shares of the firm’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 sale, the director now owns 23,391 shares in the company, valued at approximately $5,287,301.64. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Alan Mateo sold 3,391 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The stock was 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 in the company, valued at $4,415,505.38. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,989 shares of company stock valued at $4,818,013. Insiders own 10.50% of the company’s stock.

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.