Veeva Systems Inc. (NYSE:VEEV) Shares Purchased by Liberty Capital Management Inc.

Liberty Capital Management Inc. increased its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 11.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,579 shares of the technology company’s stock after purchasing an additional 695 shares during the quarter. Liberty Capital Management Inc.’s holdings in Veeva Systems were worth $1,524,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Centricity Wealth Management LLC acquired a new position in Veeva Systems in the 4th quarter valued at about $25,000. Smithfield Trust Co grew its position in Veeva Systems by 145.5% in the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock valued at $27,000 after acquiring an additional 80 shares in the last quarter. Avion Wealth grew its position in Veeva Systems by 635.0% in the 4th quarter. Avion Wealth now owns 147 shares of the technology company’s stock valued at $30,000 after acquiring an additional 127 shares in the last quarter. Venturi Wealth Management LLC grew its position in Veeva Systems by 2,716.7% in the 4th quarter. Venturi Wealth Management LLC now owns 169 shares of the technology company’s stock valued at $36,000 after acquiring an additional 163 shares in the last quarter. Finally, Promus Capital LLC acquired a new position in Veeva Systems in the 4th quarter valued at about $36,000. 88.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Jonathan Faddis sold 787 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total transaction of $178,019.40. Following the completion of the sale, the senior vice president now directly owns 8,668 shares of the company’s stock, valued at $1,960,701.60. This trade represents a 8.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Timothy S. Cabral sold 315 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $289.72, for a total value of $91,261.80. Following the sale, the director now directly owns 5,500 shares of the company’s stock, valued at approximately $1,593,460. This represents a 5.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,184 shares of company stock valued at $1,376,179 over the last three months. 10.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

VEEV has been the subject of several research reports. UBS Group lifted their target price on Veeva Systems from $250.00 to $285.00 and gave the company a “neutral” rating in a research report on Thursday, May 29th. Barclays lifted their target price on Veeva Systems from $285.00 to $300.00 and gave the company an “overweight” rating in a research report on Thursday, May 29th. Scotiabank boosted their price objective on Veeva Systems from $240.00 to $245.00 and gave the stock a “sector perform” rating in a research report on Thursday, March 6th. Needham & Company LLC boosted their price objective on Veeva Systems from $270.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, May 29th. Finally, Citigroup boosted their price objective on Veeva Systems from $265.00 to $329.00 and gave the stock a “buy” rating in a research report on Friday, May 30th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Veeva Systems currently has an average rating of “Moderate Buy” and a consensus target price of $269.80.

Veeva Systems Trading Down 2.3%

Shares of NYSE VEEV opened at $281.85 on Friday. Veeva Systems Inc. has a twelve month low of $176.41 and a twelve month high of $291.69. The stock has a 50 day moving average of $240.79 and a two-hundred day moving average of $231.94. The stock has a market cap of $45.86 billion, a P/E ratio of 69.59, a P/E/G ratio of 1.89 and a beta of 0.99.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Wednesday, May 28th. The technology company reported $1.97 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.23. Veeva Systems had a return on equity of 13.56% and a net margin of 25.07%. The company had revenue of $759.04 million during the quarter, compared to analysts’ expectations of $728.38 million. During the same quarter in the previous year, the business earned $1.50 earnings per share. The firm’s revenue for the quarter was up 16.7% on a year-over-year basis. As a group, research analysts predict that Veeva Systems Inc. will post 4.35 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.