5,244 Shares in Veeva Systems Inc. (NYSE:VEEV) Purchased by Quadrature Capital Ltd

Quadrature Capital Ltd bought a new position in shares of Veeva Systems Inc. (NYSE:VEEV) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 5,244 shares of the technology company’s stock, valued at approximately $1,216,000.

A number of other institutional investors have also modified their holdings of VEEV. Advisors Asset Management Inc. acquired a new stake in Veeva Systems in the 1st quarter worth approximately $28,000. DSM Capital Partners LLC acquired a new stake in Veeva Systems in the 4th quarter worth approximately $29,000. Vermillion & White Wealth Management Group LLC acquired a new stake in Veeva Systems in the 4th quarter worth approximately $32,000. First Financial Corp IN purchased a new position in Veeva Systems during the 1st quarter worth approximately $35,000. Finally, American National Bank purchased a new position in Veeva Systems during the 4th quarter worth approximately $36,000. 88.20% of the stock is currently owned by institutional investors.

Veeva Systems Trading Up 3.2 %

VEEV traded up $5.88 during trading on Friday, reaching $192.43. 1,058,510 shares of the company were exchanged, compared to its average volume of 851,398. The stock has a market cap of $31.11 billion, a P/E ratio of 56.76, a PEG ratio of 1.89 and a beta of 0.80. The firm has a 50 day moving average of $187.20 and a 200 day moving average of $204.66. Veeva Systems Inc. has a 52 week low of $162.72 and a 52 week high of $236.90.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Thursday, May 30th. The technology company reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.10. The firm had revenue of $650.35 million during the quarter, compared to the consensus estimate of $641.73 million. Veeva Systems had a return on equity of 12.74% and a net margin of 22.34%. As a group, analysts forecast that Veeva Systems Inc. will post 4.19 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Timothy S. Cabral sold 15,000 shares of the company’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $184.33, for a total value of $2,764,950.00. Following the completion of the sale, the chief financial officer now owns 8,391 shares in the company, valued at $1,546,713.03. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 10.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on VEEV shares. Truist Financial cut their target price on shares of Veeva Systems from $203.00 to $197.00 and set a “hold” rating for the company in a report on Friday, June 14th. Piper Sandler dropped their price target on shares of Veeva Systems from $235.00 to $225.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Robert W. Baird lifted their price target on shares of Veeva Systems from $251.00 to $255.00 and gave the company an “outperform” rating in a research note on Wednesday, May 29th. Evercore ISI lowered their target price on shares of Veeva Systems from $230.00 to $200.00 and set an “in-line” rating on the stock in a research note on Friday, May 31st. Finally, Citigroup lowered their target price on shares of Veeva Systems from $274.00 to $256.00 and set a “buy” rating on the stock in a research note on Monday, June 3rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $228.27.

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.