Susquehanna Fundamental Investments LLC Buys 68,185 Shares of Veeva Systems Inc. (NYSE:VEEV)

Susquehanna Fundamental Investments LLC raised its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 410.8% in the 1st quarter, Holdings Channel reports. The firm owned 84,782 shares of the technology company’s stock after purchasing an additional 68,185 shares during the quarter. Veeva Systems accounts for 0.9% of Susquehanna Fundamental Investments LLC’s holdings, making the stock its 19th biggest holding. Susquehanna Fundamental Investments LLC’s holdings in Veeva Systems were worth $19,643,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Forsta AP Fonden lifted its position in shares of Veeva Systems by 13.5% during the 1st quarter. Forsta AP Fonden now owns 31,900 shares of the technology company’s stock valued at $7,391,000 after buying an additional 3,800 shares in the last quarter. Allen Investment Management LLC raised its stake in Veeva Systems by 26.2% in the 1st quarter. Allen Investment Management LLC now owns 58,025 shares of the technology company’s stock valued at $13,444,000 after purchasing an additional 12,064 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in Veeva Systems by 15.8% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,820 shares of the technology company’s stock valued at $422,000 after purchasing an additional 249 shares during the last quarter. Guardian Asset Advisors LLC acquired a new position in Veeva Systems in the 1st quarter valued at $201,000. Finally, Empowered Funds LLC acquired a new position in Veeva Systems in the 1st quarter valued at $1,083,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Trading Up 1.0 %

Veeva Systems stock traded up $1.94 during midday trading on Friday, reaching $187.92. 851,059 shares of the stock traded hands, compared to its average volume of 860,023. The company has a 50-day simple moving average of $191.22 and a two-hundred day simple moving average of $204.96. Veeva Systems Inc. has a 12-month low of $162.72 and a 12-month high of $236.90. The firm has a market cap of $30.38 billion, a PE ratio of 55.43, a price-to-earnings-growth ratio of 1.84 and a beta of 0.80.

Veeva Systems (NYSE:VEEV) last announced its earnings results on Thursday, May 30th. The technology company reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.10. Veeva Systems had a return on equity of 12.74% and a net margin of 22.34%. The company had revenue of $650.35 million during the quarter, compared to analysts’ expectations of $641.73 million. Equities research analysts anticipate that Veeva Systems Inc. will post 4.19 earnings per share for the current year.

Insider Activity

In other news, CFO Timothy S. Cabral sold 15,000 shares of Veeva Systems stock in a transaction dated 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 transaction, the chief financial officer now owns 8,391 shares in the company, valued at approximately $1,546,713.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Alan Mateo sold 3,391 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $200.86, for a total transaction of $681,116.26. Following the sale, the executive vice president now owns 21,983 shares of the company’s stock, valued at approximately $4,415,505.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Timothy S. Cabral sold 15,000 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 8,391 shares in the company, valued at approximately $1,546,713.03. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,989 shares of company stock worth $4,192,363. 10.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on VEEV shares. Piper Sandler reduced their price objective on Veeva Systems from $235.00 to $225.00 and set an “overweight” rating for the company in a research note on Friday. Raymond James reissued an “outperform” rating and issued a $260.00 price objective on shares of Veeva Systems in a research note on Tuesday, March 26th. UBS Group cut their target price on Veeva Systems from $235.00 to $185.00 and set a “neutral” rating for the company in a research note on Friday, May 31st. Evercore ISI cut their target price on Veeva Systems from $230.00 to $200.00 and set an “in-line” rating for the company in a research note on Friday, May 31st. Finally, Robert W. Baird raised their target price on Veeva Systems from $251.00 to $255.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 29th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, Veeva Systems has a consensus rating of “Moderate Buy” and an average price target of $228.05.

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.