Axxcess Wealth Management LLC Acquires New Shares in Veeva Systems Inc. (NYSE:VEEV)

Axxcess Wealth Management LLC bought a new position in shares of Veeva Systems Inc. (NYSE:VEEV) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,756 shares of the technology company’s stock, valued at approximately $531,000.

Other large investors also recently bought and sold shares of the company. Wellington Management Group LLP raised its position in shares of 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 worth $674,499,000 after purchasing an additional 289,133 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Veeva Systems by 34.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,045,414 shares of the technology company’s stock worth $416,139,000 after acquiring an additional 522,257 shares during the last quarter. FMR LLC lifted its position in shares of Veeva Systems by 15.4% in the third quarter. FMR LLC now owns 1,833,135 shares of the technology company’s stock valued at $372,951,000 after acquiring an additional 244,599 shares in the last quarter. Van ECK Associates Corp boosted its stake 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 acquiring an additional 327,662 shares during the last quarter. Finally, Blair William & Co. IL increased its position in Veeva Systems by 0.9% during the 3rd 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 in the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Raymond James restated an “outperform” rating and issued a $260.00 target price on shares of Veeva Systems in a report on Tuesday, March 26th. JPMorgan Chase & Co. raised their target price on shares of Veeva Systems from $183.00 to $222.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 13th. Jefferies Financial Group boosted their price target on Veeva Systems from $225.00 to $270.00 and gave the company a “buy” rating in a report on Monday, March 4th. KeyCorp lifted their price objective on Veeva Systems from $232.00 to $250.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. Finally, Oppenheimer restated an “outperform” rating and issued a $225.00 price target on shares of Veeva Systems in a report on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $234.90.

Insider Activity at Veeva Systems

In other Veeva Systems news, Director Timothy S. Cabral sold 15,000 shares of the business’s stock in a transaction 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 accessible through this link. In related news, SVP Jonathan Faddis sold 3,598 shares of Veeva Systems stock in a transaction on Monday, April 15th. The shares were sold at an average price of $207.42, for a total value of $746,297.16. Following the completion of the sale, the senior vice president now owns 10,668 shares in the company, valued at $2,212,756.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Timothy S. Cabral sold 15,000 shares of the company’s stock in a transaction 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 directly owns 23,391 shares in the company, valued at $5,287,301.64. The disclosure for this sale can be found here. In the last three months, insiders sold 21,989 shares of company stock valued at $4,818,013. Corporate insiders own 10.50% of the company’s stock.

Veeva Systems Price Performance

Shares of VEEV opened at $205.31 on Wednesday. Veeva Systems Inc. has a 12 month low of $160.21 and a 12 month high of $236.90. The stock has a market cap of $33.12 billion, a PE ratio of 63.76, a P/E/G ratio of 2.05 and a beta of 0.76. The stock’s 50-day moving average is $216.61 and its two-hundred day moving average is $202.11.

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

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.