Veeva Systems Inc. (NYSE:VEEV) Shares Bought by nVerses Capital LLC

nVerses Capital LLC lifted its stake in Veeva Systems Inc. (NYSE:VEEV) by 11.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,700 shares of the technology company’s stock after acquiring an additional 500 shares during the period. nVerses Capital LLC’s holdings in Veeva Systems were worth $986,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Veeva Systems by 7.5% in the 1st quarter. Vanguard Group Inc. now owns 14,150,070 shares of the technology company’s stock valued at $3,278,430,000 after buying an additional 991,208 shares during the period. Swedbank AB acquired a new position in shares of Veeva Systems during the 1st quarter worth $227,673,000. Principal Financial Group Inc. increased its stake in shares of Veeva Systems by 1,122.3% during the 2nd quarter. Principal Financial Group Inc. now owns 912,223 shares of the technology company’s stock worth $166,946,000 after purchasing an additional 837,593 shares during the last quarter. Matrix Capital Management Company LP increased its stake in shares of Veeva Systems by 635.4% during the 1st quarter. Matrix Capital Management Company LP now owns 498,821 shares of the technology company’s stock worth $115,572,000 after purchasing an additional 430,989 shares during the last quarter. Finally, Acadian Asset Management LLC increased its stake in shares of Veeva Systems by 83.8% during the 1st quarter. Acadian Asset Management LLC now owns 618,344 shares of the technology company’s stock worth $143,235,000 after purchasing an additional 281,993 shares during the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Veeva Systems Price Performance

VEEV traded down $2.52 on Thursday, hitting $214.81. 140,038 shares of the stock were exchanged, compared to its average volume of 946,771. The firm has a market capitalization of $34.78 billion, a price-to-earnings ratio of 57.95, a PEG ratio of 2.05 and a beta of 0.81. Veeva Systems Inc. has a 12 month low of $162.72 and a 12 month high of $236.90. The business has a 50-day moving average of $207.07 and a two-hundred day moving average of $198.82.

Veeva Systems (NYSE:VEEV) last posted its earnings results on Wednesday, August 28th. The technology company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.03. The firm had revenue of $676.18 million during the quarter, compared to analysts’ expectations of $667.21 million. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. Equities research analysts expect that Veeva Systems Inc. will post 4.21 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Raymond James increased their price target on shares of Veeva Systems from $230.00 to $235.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Robert W. Baird raised their target price on shares of Veeva Systems from $245.00 to $251.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Citigroup raised their target price on shares of Veeva Systems from $256.00 to $273.00 and gave the company a “buy” rating in a research note on Tuesday, August 27th. BNP Paribas initiated coverage on shares of Veeva Systems in a report on Tuesday, October 8th. They issued an “outperform” rating and a $286.00 price target for the company. Finally, TD Cowen raised their price objective on shares of Veeva Systems from $180.00 to $192.00 and gave the stock a “hold” rating in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Veeva Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $232.96.

Insider Activity

In related news, SVP Jonathan Faddis sold 2,353 shares of Veeva Systems stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $200.00, for a total value of $470,600.00. Following the completion of the sale, the senior vice president now 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 10.50% of the stock is currently owned by company insiders.

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.