Pittenger & Anderson Inc. Boosts Holdings in Veeva Systems Inc. (NYSE:VEEV)

Pittenger & Anderson Inc. lifted its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 269.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,297 shares of the technology company’s stock after acquiring an additional 1,675 shares during the period. Pittenger & Anderson Inc.’s holdings in Veeva Systems were worth $442,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of VEEV. CWM LLC grew its stake in shares of Veeva Systems by 7.0% during the 3rd quarter. CWM LLC now owns 1,860 shares of the technology company’s stock valued at $378,000 after buying an additional 122 shares during the period. Exchange Traded Concepts LLC grew its position in Veeva Systems by 7.4% during the third quarter. Exchange Traded Concepts LLC now owns 14,949 shares of the technology company’s stock valued at $3,041,000 after acquiring an additional 1,035 shares during the period. UMB Bank n.a. increased its stake in Veeva Systems by 2.5% during the third quarter. UMB Bank n.a. now owns 2,103 shares of the technology company’s stock worth $428,000 after acquiring an additional 51 shares during the last quarter. Harrington Investments INC raised its holdings in shares of Veeva Systems by 5.3% in the 3rd quarter. Harrington Investments INC now owns 6,600 shares of the technology company’s stock worth $1,343,000 after purchasing an additional 335 shares during the period. Finally, Simplicity Solutions LLC lifted its stake in shares of Veeva Systems by 3.6% in the 3rd quarter. Simplicity Solutions LLC now owns 5,135 shares of the technology company’s stock valued at $1,045,000 after purchasing an additional 177 shares in the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

VEEV has been the topic of several research reports. Royal Bank of Canada restated an “outperform” rating and issued a $250.00 price target on shares of Veeva Systems in a report on Wednesday, March 27th. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 price target on shares of Veeva Systems in a report on Tuesday, April 2nd. Oppenheimer restated an “outperform” rating and set a $225.00 price objective on shares of Veeva Systems in a research note on Thursday, February 22nd. Jefferies Financial Group raised their target price on Veeva Systems from $225.00 to $270.00 and gave the company a “buy” rating in a report on Monday, March 4th. Finally, Citigroup increased their price objective on shares of Veeva Systems from $240.00 to $264.00 and gave the company a “buy” rating in a research report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, Veeva Systems presently has an average rating of “Moderate Buy” and an average target price of $234.90.

Veeva Systems Trading Down 0.7 %

NYSE VEEV traded down $1.43 during trading hours on Thursday, reaching $199.09. The company’s stock had a trading volume of 714,888 shares, compared to its average volume of 972,334. Veeva Systems Inc. has a 52 week low of $160.21 and a 52 week high of $236.90. The business has a 50-day simple moving average of $220.12 and a 200 day simple moving average of $202.74. The stock has a market cap of $32.12 billion, a PE ratio of 62.29, a PEG ratio of 2.03 and a beta of 0.74.

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

Insider Activity

In other news, Director Timothy S. Cabral sold 15,000 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $226.04, for a total value of $3,390,600.00. Following the sale, the director now owns 23,391 shares in the company, valued at approximately $5,287,301.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Timothy S. Cabral sold 15,000 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $226.04, for a total value of $3,390,600.00. Following the sale, the director now owns 23,391 shares in the company, valued at approximately $5,287,301.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jonathan Faddis sold 3,598 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $207.42, for a total transaction of $746,297.16. Following the completion of the sale, the senior vice president now owns 10,668 shares in the company, valued at approximately $2,212,756.56. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,989 shares of company stock worth $4,818,013. Corporate insiders own 10.98% of the company’s stock.

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.