LifePlan Financial LLC Acquires Shares of 1,233 Veeva Systems Inc. (NYSE:VEEV)

LifePlan Financial LLC acquired a new stake in Veeva Systems Inc. (NYSE:VEEV) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,233 shares of the technology company’s stock, valued at approximately $237,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Veeva Systems by 1.0% in the first quarter. Vanguard Group Inc. now owns 12,888,204 shares of the technology company’s stock valued at $2,738,229,000 after purchasing an additional 132,560 shares during the period. Alliancebernstein L.P. increased its position in shares of Veeva Systems by 4.3% during the second quarter. Alliancebernstein L.P. now owns 7,779,200 shares of the technology company’s stock worth $1,538,181,000 after acquiring an additional 323,959 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its position in shares of Veeva Systems by 7.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,061,137 shares of the technology company’s stock worth $655,387,000 after acquiring an additional 279,628 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Veeva Systems by 9.6% during the third quarter. Wellington Management Group LLP now owns 3,315,304 shares of the technology company’s stock worth $674,499,000 after acquiring an additional 289,133 shares during the last quarter. Finally, State Street Corp increased its position in shares of Veeva Systems by 2.0% during the first quarter. State Street Corp now owns 2,929,979 shares of the technology company’s stock worth $538,496,000 after acquiring an additional 58,544 shares during the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Veeva Systems news, EVP Alan Mateo sold 910 shares of the company’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $204.72, for a total value of $186,295.20. Following the transaction, the executive vice president now owns 21,983 shares of the company’s stock, valued at $4,500,359.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Veeva Systems news, EVP Alan Mateo sold 910 shares of the company’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $204.72, for a total value of $186,295.20. Following the transaction, the executive vice president now owns 21,983 shares of the company’s stock, valued at $4,500,359.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Thomas D. Schwenger sold 1,238 shares of the company’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $210.02, for a total value of $260,004.76. Following the completion of the transaction, the chief operating officer now directly owns 24,342 shares in the company, valued at approximately $5,112,306.84. The disclosure for this sale can be found here. Insiders have sold a total of 17,148 shares of company stock valued at $3,836,900 over the last quarter. Corporate insiders own 10.98% of the company’s stock.

Veeva Systems Trading Down 2.5 %

NYSE:VEEV traded down $5.12 during midday trading on Monday, hitting $201.62. 1,302,728 shares of the stock were exchanged, compared to its average volume of 983,793. Veeva Systems Inc. has a one year low of $160.21 and a one year high of $236.90. The company has a market capitalization of $32.53 billion, a price-to-earnings ratio of 62.61, a P/E/G ratio of 2.09 and a beta of 0.74. The business has a 50-day moving average price of $222.40 and a two-hundred day moving average price of $202.90.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on VEEV shares. JPMorgan Chase & Co. lifted their target price on Veeva Systems from $183.00 to $222.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 13th. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 price target on shares of Veeva Systems in a research note on Tuesday, April 2nd. The Goldman Sachs Group lifted their price target on Veeva Systems from $219.00 to $248.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Robert W. Baird lifted their price target on Veeva Systems from $245.00 to $251.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st. Finally, StockNews.com upgraded Veeva Systems from a “hold” rating to a “buy” rating in a research note on Friday. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $234.90.

Veeva Systems Company 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.