Pittenger & Anderson Inc. Acquires 1,675 Shares of Veeva Systems Inc. (NYSE:VEEV)

Pittenger & Anderson Inc. grew its holdings in Veeva Systems Inc. (NYSE:VEEV) by 269.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,297 shares of the technology company’s stock after acquiring an additional 1,675 shares during the period. Pittenger & Anderson Inc.’s holdings in Veeva Systems were worth $442,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Sequoia Financial Advisors LLC lifted its position in Veeva Systems by 703.8% during the fourth quarter. Sequoia Financial Advisors LLC now owns 15,594 shares of the technology company’s stock valued at $3,002,000 after purchasing an additional 13,654 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of Veeva Systems by 5.2% in the fourth quarter. Nordea Investment Management AB now owns 163,247 shares of the technology company’s stock worth $31,730,000 after buying an additional 8,007 shares during the period. ICICI Prudential Asset Management Co Ltd lifted its position in shares of Veeva Systems by 13.1% during the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 49,140 shares of the technology company’s stock valued at $9,460,000 after buying an additional 5,674 shares in the last quarter. Lecap Asset Management Ltd. bought a new position in shares of Veeva Systems during the 4th quarter valued at approximately $2,668,000. Finally, DekaBank Deutsche Girozentrale increased its holdings in Veeva Systems by 26.3% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 98,377 shares of the technology company’s stock worth $18,953,000 after acquiring an additional 20,488 shares in the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Wall Street Analysts Forecast Growth

VEEV has been the subject of a number of analyst reports. Stifel Nicolaus increased their price objective on shares of Veeva Systems from $205.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Oppenheimer reiterated an “outperform” rating and issued a $225.00 price target on shares of Veeva Systems in a report on Thursday, February 22nd. Robert W. Baird increased their target price on Veeva Systems from $245.00 to $251.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. The Goldman Sachs Group boosted their price target on shares of Veeva Systems from $219.00 to $248.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Finally, Truist Financial increased their price objective on shares of Veeva Systems from $187.00 to $203.00 and gave the company a “hold” rating in a research report on Friday, March 1st. One investment 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $234.90.

Insider Buying and Selling at Veeva Systems

In related news, Director Timothy S. Cabral sold 15,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 23,391 shares in the company, valued at approximately $5,287,301.64. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Timothy S. Cabral sold 15,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $5,287,301.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Jonathan Faddis sold 3,598 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was 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 directly owns 10,668 shares of the company’s stock, valued at approximately $2,212,756.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,989 shares of company stock valued at $4,818,013. 10.98% of the stock is currently owned by insiders.

Veeva Systems Price Performance

Shares of NYSE:VEEV traded down $1.43 during trading hours on Thursday, hitting $199.09. The company’s stock had a trading volume of 714,888 shares, compared to its average volume of 972,334. The firm’s fifty day moving average price is $220.12 and its 200 day moving average price is $202.74. Veeva Systems Inc. has a 52 week low of $160.21 and a 52 week high of $236.90. The company has a market capitalization of $32.12 billion, a price-to-earnings ratio of 62.29, a P/E/G ratio of 2.03 and a beta of 0.74.

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

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.