General American Investors Co. Inc. Buys Shares of 24,457 Veeva Systems Inc. (NYSE:VEEV)

General American Investors Co. Inc. purchased a new position in Veeva Systems Inc. (NYSE:VEEV) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 24,457 shares of the technology company’s stock, valued at approximately $5,133,000.

Other hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. grew its holdings in shares of Veeva Systems by 138.9% during the 3rd quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock valued at $457,366,000 after purchasing an additional 1,267,061 shares during the last quarter. Concurrent Investment Advisors LLC bought a new stake in shares of Veeva Systems in the 3rd quarter valued at about $245,000. Maia Wealth LLC boosted its holdings in Veeva Systems by 14.9% during the 3rd quarter. Maia Wealth LLC now owns 3,468 shares of the technology company’s stock valued at $737,000 after acquiring an additional 451 shares during the period. Umpqua Bank grew its position in Veeva Systems by 8.1% during the 3rd quarter. Umpqua Bank now owns 3,679 shares of the technology company’s stock worth $772,000 after acquiring an additional 276 shares during the last quarter. Finally, Radnor Capital Management LLC purchased a new position in Veeva Systems in the 3rd quarter worth approximately $374,000. 88.20% of the stock is owned by institutional investors.

Veeva Systems Stock Up 0.0 %

VEEV traded up $0.03 during mid-day trading on Thursday, reaching $216.48. 9,658 shares of the company traded hands, compared to its average volume of 930,965. The stock has a market capitalization of $35.05 billion, a P/E ratio of 57.72, a P/E/G ratio of 2.07 and a beta of 0.81. Veeva Systems Inc. has a 52-week low of $162.72 and a 52-week high of $236.90. The company’s fifty day moving average price is $213.48 and its 200-day moving average price is $199.34.

Veeva Systems (NYSE:VEEV) last announced its earnings results on Wednesday, August 28th. The technology company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.03. Veeva Systems had a return on equity of 13.30% and a net margin of 23.91%. The business had revenue of $676.18 million for the quarter, compared to analysts’ expectations of $667.21 million. As a group, sell-side analysts forecast that Veeva Systems Inc. will post 4.21 earnings per share for the current fiscal year.

Insider Buying and Selling at Veeva Systems

In related news, SVP Jonathan Faddis sold 2,353 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $200.00, for a total value of $470,600.00. Following the transaction, the senior vice president now directly owns 9,035 shares of the company’s stock, valued at approximately $1,807,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 10.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Needham & Company LLC reiterated a “buy” rating and set a $260.00 price target on shares of Veeva Systems in a report on Thursday, August 29th. Barclays increased their price objective on Veeva Systems from $220.00 to $240.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. StockNews.com lowered Veeva Systems from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. UBS Group raised their target price on shares of Veeva Systems from $185.00 to $215.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Finally, BNP Paribas started coverage on shares of Veeva Systems in a report on Tuesday, October 8th. They issued an “outperform” rating and a $286.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, Veeva Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $232.87.

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.