Unique Wealth Strategies LLC Purchases Shares of 2,901 Veeva Systems Inc. (NYSE:VEEV)

Unique Wealth Strategies LLC purchased a new stake in Veeva Systems Inc. (NYSE:VEEV) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,901 shares of the technology company’s stock, valued at approximately $559,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in VEEV. UMB Bank n.a. raised its stake in shares of Veeva Systems by 2.5% in the third quarter. UMB Bank n.a. now owns 2,103 shares of the technology company’s stock worth $428,000 after acquiring an additional 51 shares during the last quarter. Simplicity Solutions LLC raised its stake in shares of Veeva Systems by 3.6% in the third quarter. Simplicity Solutions LLC now owns 5,135 shares of the technology company’s stock worth $1,045,000 after acquiring an additional 177 shares during the last quarter. Linden Thomas Advisory Services LLC raised its stake in shares of Veeva Systems by 0.8% during the third quarter. Linden Thomas Advisory Services LLC now owns 9,940 shares of the technology company’s stock worth $2,022,000 after buying an additional 82 shares during the last quarter. Arcadia Investment Management Corp MI raised its stake in shares of Veeva Systems by 0.6% during the third quarter. Arcadia Investment Management Corp MI now owns 44,560 shares of the technology company’s stock worth $9,066,000 after buying an additional 256 shares during the last quarter. Finally, Suncoast Equity Management raised its stake in shares of Veeva Systems by 4.1% during the third quarter. Suncoast Equity Management now owns 2,963 shares of the technology company’s stock worth $603,000 after buying an additional 118 shares during the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on VEEV shares. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 price target on shares of Veeva Systems in a research note on Wednesday, March 27th. JPMorgan Chase & Co. boosted their price target on shares of Veeva Systems from $183.00 to $222.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 13th. Jefferies Financial Group boosted their price target on shares of Veeva Systems from $225.00 to $270.00 and gave the stock a “buy” rating in a research note on Monday, March 4th. UBS Group upped their target price on shares of Veeva Systems from $185.00 to $235.00 and gave the company a “neutral” rating in a research note on Monday, February 26th. Finally, Citigroup upped their target price on shares of Veeva Systems from $240.00 to $264.00 and gave the company a “buy” rating in a research note on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, Veeva Systems currently has an average rating of “Moderate Buy” and a consensus target price of $234.90.

Veeva Systems Stock Up 0.9 %

VEEV traded up $1.82 during trading hours on Friday, hitting $200.91. 848,504 shares of the company’s stock were exchanged, compared to its average volume of 941,040. Veeva Systems Inc. has a 1-year low of $160.21 and a 1-year high of $236.90. The stock’s 50-day moving average is $219.27 and its two-hundred day moving average is $202.55. The stock has a market cap of $32.41 billion, a price-to-earnings ratio of 62.39, a PEG ratio of 2.03 and a beta of 0.74.

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

Insider Buying and Selling at Veeva Systems

In other news, EVP Alan Mateo sold 3,391 shares of the stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $200.86, for a total value of $681,116.26. Following the transaction, the executive vice president now directly owns 21,983 shares of the company’s stock, valued at $4,415,505.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Timothy S. Cabral sold 15,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 23,391 shares of the company’s stock, valued at $5,287,301.64. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 transaction, the executive vice president now directly owns 21,983 shares in the company, valued at $4,415,505.38. The disclosure for this sale can be found here. Insiders sold a total of 21,989 shares of company stock worth $4,818,013 over the last quarter. 10.98% of the stock is currently owned by insiders.

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.