Machina Capital S.A.S. Makes New $542,000 Investment in Veeva Systems Inc. (NYSE:VEEV)

Machina Capital S.A.S. bought a new stake in shares of 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 fund bought 2,813 shares of the technology company’s stock, valued at approximately $542,000.

Several other hedge funds have also recently made changes to their positions in VEEV. Wellington Management Group LLP boosted its position in Veeva Systems by 9.6% during the 3rd quarter. Wellington Management Group LLP now owns 3,315,304 shares of the technology company’s stock valued at $674,499,000 after acquiring an additional 289,133 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Veeva Systems by 34.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,045,414 shares of the technology company’s stock valued at $416,139,000 after purchasing an additional 522,257 shares during the period. FMR LLC boosted its position in shares of Veeva Systems by 15.4% during the third quarter. FMR LLC now owns 1,833,135 shares of the technology company’s stock valued at $372,951,000 after purchasing an additional 244,599 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of Veeva Systems by 22.6% during the fourth quarter. Van ECK Associates Corp now owns 1,775,065 shares of the technology company’s stock valued at $341,736,000 after purchasing an additional 327,662 shares in the last quarter. Finally, Blair William & Co. IL grew its stake in Veeva Systems by 0.9% in the third quarter. Blair William & Co. IL now owns 1,466,121 shares of the technology company’s stock worth $298,282,000 after purchasing an additional 12,709 shares during the period. 88.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on VEEV shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 target price on shares of Veeva Systems in a research report on Tuesday, April 2nd. The Goldman Sachs Group boosted their price objective on shares of Veeva Systems from $219.00 to $248.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Piper Sandler raised their target price on shares of Veeva Systems from $220.00 to $245.00 and gave the company an “overweight” rating in a research note on Friday, March 1st. Robert W. Baird lifted their target price 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. Finally, JPMorgan Chase & Co. raised their price objective on Veeva Systems from $183.00 to $222.00 and gave the company a “neutral” rating in a research report on Wednesday, March 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Veeva Systems currently has an average rating of “Moderate Buy” and an average price target of $234.90.

Insiders Place Their Bets

In related news, EVP Alan Mateo sold 3,391 shares of Veeva Systems stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $200.86, for a total value of $681,116.26. Following the completion of the sale, the executive vice president now owns 21,983 shares of the company’s stock, valued at $4,415,505.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Timothy S. Cabral sold 15,000 shares of the stock in a transaction that occurred 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 transaction, the director now owns 23,391 shares in the company, valued at approximately $5,287,301.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Alan Mateo sold 3,391 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $200.86, for a total transaction of $681,116.26. Following the completion of the transaction, the executive vice president now directly owns 21,983 shares in the company, valued at approximately $4,415,505.38. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,989 shares of company stock valued at $4,818,013. Company insiders own 10.50% of the company’s stock.

Veeva Systems Price Performance

NYSE VEEV traded down $0.64 during trading hours on Monday, hitting $202.81. The company’s stock had a trading volume of 510,503 shares, compared to its average volume of 947,186. Veeva Systems Inc. has a 12 month low of $160.21 and a 12 month high of $236.90. The company’s 50 day simple moving average is $216.96 and its two-hundred day simple moving average is $202.07. The company has a market cap of $32.72 billion, a P/E ratio of 62.98, a price-to-earnings-growth ratio of 2.05 and a beta of 0.76.

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

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.