Clearbridge Investments LLC Buys 123 Shares of Veeva Systems Inc. (NYSE:VEEV)

Clearbridge Investments LLC raised its stake in Veeva Systems Inc. (NYSE:VEEV) by 1.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,741 shares of the technology company’s stock after purchasing an additional 123 shares during the period. Clearbridge Investments LLC’s holdings in Veeva Systems were worth $2,260,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Operose Advisors LLC bought a new stake in Veeva Systems in the 3rd quarter valued at $29,000. Parkside Financial Bank & Trust lifted its holdings in shares of Veeva Systems by 81.9% during the 3rd quarter. Parkside Financial Bank & Trust now owns 171 shares of the technology company’s stock worth $35,000 after acquiring an additional 77 shares during the period. American National Bank bought a new position in shares of Veeva Systems during the 4th quarter worth about $36,000. Atticus Wealth Management LLC lifted its holdings in shares of Veeva Systems by 500.0% during the 3rd quarter. Atticus Wealth Management LLC now owns 180 shares of the technology company’s stock worth $37,000 after acquiring an additional 150 shares during the period. Finally, Nkcfo LLC lifted its holdings in shares of Veeva Systems by 54.7% during the 3rd quarter. Nkcfo LLC now owns 232 shares of the technology company’s stock worth $47,000 after acquiring an additional 82 shares during the period. 88.20% of the stock is owned by institutional investors.

Insider Transactions at Veeva Systems

In other news, EVP Alan Mateo sold 3,391 shares of Veeva Systems stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $200.86, for a total transaction of $681,116.26. Following the completion of the sale, the executive vice president now owns 21,983 shares in the company, valued at approximately $4,415,505.38. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Timothy S. Cabral sold 15,000 shares of Veeva Systems stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $226.04, for a total transaction of $3,390,600.00. Following the completion of 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 SEC, which can be accessed through this link. Also, EVP Alan Mateo sold 3,391 shares of Veeva Systems 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 sale, the executive vice president now owns 21,983 shares of the company’s stock, valued at approximately $4,415,505.38. The disclosure for this sale can be found here. Insiders sold a total of 21,989 shares of company stock worth $4,818,013 in the last quarter. 10.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

VEEV has been the subject of a number of analyst reports. The Goldman Sachs Group raised their price objective on shares of Veeva Systems from $219.00 to $248.00 and gave the stock a “buy” rating in a report on Friday, March 1st. KeyCorp raised their price objective on shares of Veeva Systems from $232.00 to $250.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 price objective on shares of Veeva Systems in a report on Wednesday, March 27th. Oppenheimer reiterated an “outperform” rating and set a $225.00 target price on shares of Veeva Systems in a research report on Thursday, February 22nd. Finally, Stifel Nicolaus increased their target price on shares of Veeva Systems from $205.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Veeva Systems has a consensus rating of “Moderate Buy” and a consensus price target of $234.90.

Veeva Systems Trading Down 0.3 %

VEEV opened at $203.89 on Friday. The stock has a market capitalization of $32.89 billion, a PE ratio of 63.32, a PEG ratio of 1.95 and a beta of 0.76. Veeva Systems Inc. has a 1-year low of $161.39 and a 1-year high of $236.90. The firm has a 50-day moving average price of $211.14 and a two-hundred day moving average price of $203.29.

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

About Veeva Systems

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.