HF Advisory Group LLC Increases Position in Veeva Systems Inc. (NYSE:VEEV)

HF Advisory Group LLC boosted its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 26.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,730 shares of the technology company’s stock after acquiring an additional 574 shares during the period. HF Advisory Group LLC’s holdings in Veeva Systems were worth $526,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. OFI Invest Asset Management purchased a new stake in shares of Veeva Systems in the 3rd quarter valued at approximately $25,000. Operose Advisors LLC purchased a new stake in shares of Veeva Systems in the 3rd quarter valued at approximately $29,000. Parkside Financial Bank & Trust grew its stake in shares of Veeva Systems by 81.9% in the 3rd quarter. Parkside Financial Bank & Trust now owns 171 shares of the technology company’s stock valued at $35,000 after buying an additional 77 shares during the period. Atticus Wealth Management LLC grew its stake in shares of Veeva Systems by 500.0% in the 3rd quarter. Atticus Wealth Management LLC now owns 180 shares of the technology company’s stock valued at $37,000 after buying an additional 150 shares during the period. Finally, Resurgent Financial Advisors LLC purchased a new stake in shares of Veeva Systems in the 4th quarter valued at approximately $33,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Insider Activity at Veeva Systems

In related news, Director Timothy S. Cabral sold 15,000 shares of the 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 directly owns 23,391 shares of the company’s stock, valued at approximately $5,287,301.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Veeva Systems news, SVP Jonathan Faddis sold 3,598 shares of the firm’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $207.42, for a total transaction of $746,297.16. Following the transaction, the senior vice president now directly owns 10,668 shares of the company’s stock, valued at approximately $2,212,756.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Timothy S. Cabral sold 15,000 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $226.04, for a total transaction of $3,390,600.00. Following the transaction, 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. Insiders have sold 19,836 shares of company stock valued at $4,396,902 in the last ninety days. Insiders own 10.98% of the company’s stock.

Veeva Systems Price Performance

Shares of VEEV traded up $1.01 during midday trading on Thursday, reaching $200.21. The stock had a trading volume of 106,311 shares, compared to its average volume of 977,976. Veeva Systems Inc. has a 1-year low of $160.21 and a 1-year high of $236.90. The company’s fifty day simple moving average is $221.86 and its two-hundred day simple moving average is $202.84. The company has a market cap of $32.30 billion, a price-to-earnings ratio of 61.86, a PEG ratio of 2.02 and a beta of 0.74.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Thursday, February 29th. The technology company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.11. The business had revenue of $630.62 million for the quarter, compared to analyst estimates of $620.75 million. Veeva Systems had a net margin of 22.24% and a return on equity of 11.26%. On average, sell-side analysts forecast that Veeva Systems Inc. will post 4.11 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. increased their price target on shares of Veeva Systems from $183.00 to $222.00 and gave the company a “neutral” rating in a research note on Wednesday, March 13th. UBS Group upped their price objective on shares of Veeva Systems from $185.00 to $235.00 and gave the stock a “neutral” rating in a report on Monday, February 26th. The Goldman Sachs Group upped their price objective on shares of Veeva Systems from $219.00 to $248.00 and gave the stock a “buy” rating in a report on Friday, March 1st. Royal Bank of Canada restated an “outperform” rating and issued a $250.00 price objective on shares of Veeva Systems in a report on Wednesday, March 27th. Finally, StockNews.com upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a report on Friday, April 12th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $234.90.

About Veeva Systems

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.