Ieq Capital LLC Purchases 2,263 Shares of Veeva Systems Inc. (NYSE:VEEV)

Ieq Capital LLC grew its position in Veeva Systems Inc. (NYSE:VEEV – Get Rating) by 34.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,802 shares of the technology company’s stock after purchasing an additional 2,263 shares during the period. Ieq Capital LLC’s holdings in Veeva Systems were worth $1,452,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of VEEV. First Republic Investment Management Inc. raised its holdings in Veeva Systems by 6.3% during the third quarter. First Republic Investment Management Inc. now owns 22,308 shares of the technology company’s stock worth $3,678,000 after acquiring an additional 1,326 shares in the last quarter. Kornitzer Capital Management Inc. KS increased its position in Veeva Systems by 23.0% during the third quarter. Kornitzer Capital Management Inc. KS now owns 94,543 shares of the technology company’s stock worth $15,588,000 after buying an additional 17,672 shares during the last quarter. SRS Capital Advisors Inc. increased its position in Veeva Systems by 40.1% during the third quarter. SRS Capital Advisors Inc. now owns 1,205 shares of the technology company’s stock worth $199,000 after buying an additional 345 shares during the last quarter. Fiera Capital Corp increased its position in Veeva Systems by 6.8% during the third quarter. Fiera Capital Corp now owns 205,384 shares of the technology company’s stock worth $33,864,000 after buying an additional 13,111 shares during the last quarter. Finally, Vestmark Advisory Solutions Inc. increased its position in Veeva Systems by 153.2% during the third quarter. Vestmark Advisory Solutions Inc. now owns 11,484 shares of the technology company’s stock worth $1,893,000 after buying an additional 6,949 shares during the last quarter. 78.76% of the stock is currently owned by institutional investors.

Veeva Systems Trading Down 0.4 %

Shares of Veeva Systems stock opened at $168.09 on Wednesday. The business has a 50-day moving average price of $170.37 and a two-hundred day moving average price of $181.69. Veeva Systems Inc. has a 1-year low of $151.02 and a 1-year high of $239.67. The company has a market cap of $26.17 billion, a P/E ratio of 68.61, a PEG ratio of 4.27 and a beta of 0.89.

Veeva Systems (NYSE:VEEV – Get Rating) last issued its quarterly earnings results on Thursday, December 1st. The technology company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.03. Veeva Systems had a return on equity of 12.81% and a net margin of 19.08%. The firm had revenue of $552.35 million during the quarter, compared to the consensus estimate of $545.78 million. Equities research analysts forecast that Veeva Systems Inc. will post 2.52 EPS for the current fiscal year.

Insider Activity

In related news, Director Matthew J. Wallach sold 10,000 shares of the firm’s stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $169.49, for a total value of $1,694,900.00. Following the transaction, the director now owns 2,546 shares of the company’s stock, valued at approximately $431,521.54. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Matthew J. Wallach sold 10,000 shares of the firm’s stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $169.49, for a total value of $1,694,900.00. Following the transaction, the director now owns 2,546 shares of the company’s stock, valued at approximately $431,521.54. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Peter P. Gassner sold 58,333 shares of Veeva Systems stock in a transaction that occurred on Monday, December 5th. The stock was sold at an average price of $168.83, for a total transaction of $9,848,360.39. The disclosure for this sale can be found here. Insiders sold a total of 318,610 shares of company stock worth $53,401,824 in the last three months. Company insiders own 13.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Oppenheimer decreased their target price on Veeva Systems from $250.00 to $225.00 and set an “outperform” rating on the stock in a research report on Thursday, January 12th. Cowen assumed coverage on Veeva Systems in a research report on Tuesday, December 6th. They issued a “market perform” rating on the stock. Raymond James decreased their target price on Veeva Systems from $215.00 to $200.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 17th. Cowen assumed coverage on Veeva Systems in a research report on Tuesday, December 6th. They issued a “market perform” rating and a $184.00 target price on the stock. Finally, Piper Sandler decreased their target price on Veeva Systems from $220.00 to $204.00 and set an “overweight” rating on the stock in a research report on Monday, January 9th. Ten investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $208.65.

Veeva Systems Profile

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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.