Premier Path Wealth Partners LLC Makes New $267,000 Investment in Veeva Systems Inc. (NYSE:VEEV)

Premier Path Wealth Partners LLC bought a new position in Veeva Systems Inc. (NYSE:VEEV) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,460 shares of the technology company’s stock, valued at approximately $267,000.

Other large investors have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Veeva Systems in the fourth quarter worth approximately $305,543,000. Vanguard Group Inc. grew its stake in shares of Veeva Systems by 7.5% in the first quarter. Vanguard Group Inc. now owns 14,150,070 shares of the technology company’s stock worth $3,278,430,000 after acquiring an additional 991,208 shares during the period. Swedbank AB bought a new stake in shares of Veeva Systems in the first quarter worth approximately $227,673,000. Matrix Capital Management Company LP grew its stake in shares of Veeva Systems by 635.4% in the first quarter. Matrix Capital Management Company LP now owns 498,821 shares of the technology company’s stock worth $115,572,000 after acquiring an additional 430,989 shares during the period. Finally, Van ECK Associates Corp grew its stake in shares of Veeva Systems by 22.6% in the fourth quarter. Van ECK Associates Corp now owns 1,775,065 shares of the technology company’s stock worth $341,736,000 after acquiring an additional 327,662 shares during the period. 88.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Veeva Systems

In related news, CFO Timothy S. Cabral sold 15,000 shares of the company’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $184.33, for a total transaction of $2,764,950.00. Following the sale, the chief financial officer now owns 8,391 shares of the company’s stock, valued at $1,546,713.03. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, SVP Jonathan Faddis sold 2,353 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $200.00, for a total value of $470,600.00. Following the sale, the senior vice president now owns 9,035 shares of the company’s stock, valued at $1,807,000. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Timothy S. Cabral sold 15,000 shares of the stock in a transaction on Friday, June 7th. The shares were sold at an average price of $184.33, for a total transaction of $2,764,950.00. Following the completion of 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. 10.50% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on VEEV. Piper Sandler reduced their price target on shares of Veeva Systems from $235.00 to $225.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Canaccord Genuity Group reduced their price target on shares of Veeva Systems from $220.00 to $210.00 and set a “hold” rating for the company in a research note on Friday, May 31st. Robert W. Baird boosted their target price on shares of Veeva Systems from $251.00 to $255.00 and gave the company an “outperform” rating in a research report on Wednesday, May 29th. Guggenheim boosted their target price on shares of Veeva Systems from $211.00 to $233.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Finally, Stifel Nicolaus cut their target price on shares of Veeva Systems from $250.00 to $210.00 and set a “buy” rating for the company in a research report on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $228.27.

Veeva Systems Price Performance

Shares of VEEV stock traded up $2.18 during mid-day trading on Friday, hitting $199.24. The company had a trading volume of 871,271 shares, compared to its average volume of 956,307. Veeva Systems Inc. has a 52-week low of $162.72 and a 52-week high of $236.90. The stock’s 50 day moving average price is $186.60 and its 200-day moving average price is $202.41. The company has a market capitalization of $32.21 billion, a P/E ratio of 58.77, a P/E/G ratio of 1.89 and a beta of 0.80.

Veeva Systems (NYSE:VEEV) last released its earnings results on Thursday, May 30th. The technology company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.93 by $0.10. Veeva Systems had a net margin of 22.34% and a return on equity of 12.74%. The firm had revenue of $650.35 million for the quarter, compared to the consensus estimate of $641.73 million. On average, equities research analysts expect that Veeva Systems Inc. will post 4.19 earnings per share for the current 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.