Veeva Systems Inc. (NYSE:VEEV) Shares Bought by RMB Capital Management LLC

RMB Capital Management LLC lifted its position in shares of Veeva Systems Inc. (NYSE:VEEVGet Rating) by 6.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,868 shares of the technology company’s stock after buying an additional 308 shares during the quarter. RMB Capital Management LLC’s holdings in Veeva Systems were worth $1,034,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. AIA Group Ltd grew its holdings in Veeva Systems by 44.4% during the 1st quarter. AIA Group Ltd now owns 1,607 shares of the technology company’s stock valued at $341,000 after buying an additional 494 shares during the last quarter. QCM Cayman Ltd. acquired a new stake in shares of Veeva Systems during the first quarter valued at $215,000. IndexIQ Advisors LLC purchased a new stake in Veeva Systems during the 1st quarter worth about $43,000. Legal Advantage Investments Inc. raised its stake in Veeva Systems by 1.8% in the 1st quarter. Legal Advantage Investments Inc. now owns 15,545 shares of the technology company’s stock valued at $3,303,000 after purchasing an additional 275 shares during the last quarter. Finally, Nikko Asset Management Americas Inc. lifted its holdings in Veeva Systems by 6.1% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 50,813 shares of the technology company’s stock valued at $10,417,000 after purchasing an additional 2,942 shares in the last quarter.

Insider Buying and Selling at Veeva Systems

In related news, Director Timothy S. Cabral sold 10,000 shares of Veeva Systems stock in a transaction on Monday, June 6th. The shares were sold at an average price of $189.31, for a total value of $1,893,100.00. Following the completion of the sale, the director now owns 118,114 shares in the company, valued at $22,360,161.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Timothy S. Cabral sold 10,000 shares of the stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $189.31, for a total transaction of $1,893,100.00. Following the transaction, the director now owns 118,114 shares of the company’s stock, valued at $22,360,161.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Timothy S. Cabral sold 5,000 shares of the business’s stock in a transaction dated Thursday, June 23rd. The shares were sold at an average price of $200.03, for a total value of $1,000,150.00. Following the completion of the sale, the director now directly owns 113,114 shares of the company’s stock, valued at $22,626,193.42. The disclosure for this sale can be found here. Insiders have sold a total of 15,371 shares of company stock valued at $2,963,506 in the last three months. Corporate insiders own 13.23% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. JMP Securities decreased their target price on shares of Veeva Systems from $265.00 to $240.00 and set a “market outperform” rating on the stock in a research report on Thursday, June 2nd. The Goldman Sachs Group started coverage on Veeva Systems in a research report on Thursday, June 23rd. They issued a “buy” rating and a $253.00 price objective for the company. Stifel Nicolaus increased their target price on Veeva Systems from $220.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, June 29th. Raymond James dropped their price objective on shares of Veeva Systems from $260.00 to $205.00 in a research note on Thursday, June 2nd. Finally, Piper Sandler decreased their target price on shares of Veeva Systems from $290.00 to $275.00 and set an “overweight” rating on the stock in a research report on Monday, July 18th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $247.00.

Veeva Systems Price Performance

Shares of VEEV stock opened at $227.30 on Friday. The company’s fifty day moving average price is $200.32 and its two-hundred day moving average price is $199.41. The firm has a market capitalization of $35.20 billion, a P/E ratio of 89.49, a P/E/G ratio of 4.83 and a beta of 0.73. Veeva Systems Inc. has a 12 month low of $152.04 and a 12 month high of $342.30.

Veeva Systems (NYSE:VEEVGet Rating) last announced its earnings results on Wednesday, June 1st. The technology company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.03. The business had revenue of $505.10 million for the quarter, compared to analyst estimates of $495.88 million. Veeva Systems had a return on equity of 14.60% and a net margin of 21.43%. The company’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.67 earnings per share. On average, sell-side analysts anticipate that Veeva Systems Inc. will post 2.78 EPS for the current year.

About Veeva Systems

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Veeva Systems Inc provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, the Middle East, Africa, and Latin America. The company offers Veeva Commercial Cloud, a suite of software, data, and analytics solutions, which include Veeva customer relationship management (CRM) and Veeva Medical CRM, Veeva CLM, Veeva CRM MyInsights, Veeva CLM, Veeva CRM Approved Email, Veeva CRM Engage, Veeva Align, Veeva CRM Events Management, Veeva Nitro, Veeva OpenData, Veeva Link, Veeva Network, Veeva Crossix, Veeva Data Cloud, and MyVeeva for Patients; and Veeva Vault, a cloud-based enterprise content and data management applications for managing commercial functions, including sales and marketing, and medical content and communications, as well as research and development functions, such as clinical, regulatory, quality, and safety.

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Institutional Ownership by Quarter for Veeva Systems (NYSE:VEEV)

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