Investment Research & Advisory Group Inc. Grows Position in Veeva Systems Inc. (NYSE:VEEV)

Investment Research & Advisory Group Inc. raised its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 116.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,583 shares of the technology company’s stock after buying an additional 6,236 shares during the quarter. Veeva Systems comprises about 1.2% of Investment Research & Advisory Group Inc.’s portfolio, making the stock its 26th biggest holding. Investment Research & Advisory Group Inc.’s holdings in Veeva Systems were worth $2,684,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Facet Wealth Inc. boosted its position in shares of Veeva Systems by 3.2% during the 4th quarter. Facet Wealth Inc. now owns 1,542 shares of the technology company’s stock valued at $323,000 after acquiring an additional 48 shares during the last quarter. Yousif Capital Management LLC boosted its position in shares of Veeva Systems by 3.5% during the 4th quarter. Yousif Capital Management LLC now owns 1,777 shares of the technology company’s stock valued at $342,000 after acquiring an additional 60 shares during the last quarter. Quadrant Capital Group LLC boosted its position in shares of Veeva Systems by 14.7% during the 4th quarter. Quadrant Capital Group LLC now owns 530 shares of the technology company’s stock valued at $102,000 after acquiring an additional 68 shares during the last quarter. Wedmont Private Capital boosted its position in shares of Veeva Systems by 3.8% during the 1st quarter. Wedmont Private Capital now owns 1,981 shares of the technology company’s stock valued at $429,000 after acquiring an additional 72 shares during the last quarter. Finally, Parkside Financial Bank & Trust boosted its position in shares of Veeva Systems by 81.9% during the 3rd quarter. Parkside Financial Bank & Trust now owns 171 shares of the technology company’s stock valued at $35,000 after acquiring an additional 77 shares during the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Price Performance

Shares of NYSE VEEV traded down $2.14 during midday trading on Friday, hitting $183.01. The company’s stock had a trading volume of 1,424,589 shares, compared to its average volume of 1,393,494. The business’s fifty day simple moving average is $194.68 and its two-hundred day simple moving average is $205.08. Veeva Systems Inc. has a 1 year low of $162.72 and a 1 year high of $236.90. The firm has a market capitalization of $29.58 billion, a price-to-earnings ratio of 53.99, a price-to-earnings-growth ratio of 1.81 and a beta of 0.80.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings data on Thursday, May 30th. The technology company reported $1.03 EPS for the quarter, beating 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 business had revenue of $650.35 million during the quarter, compared to analyst estimates of $641.73 million. Analysts anticipate that Veeva Systems Inc. will post 4.19 EPS for the current fiscal year.

Insider Activity at Veeva Systems

In related news, SVP Jonathan Faddis sold 3,598 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $207.42, for a total value of $746,297.16. Following the sale, the senior vice president now owns 10,668 shares of the company’s stock, valued at $2,212,756.56. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, SVP Jonathan Faddis sold 3,598 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $207.42, for a total value of $746,297.16. Following the sale, the senior vice president now owns 10,668 shares of the company’s stock, valued at $2,212,756.56. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Timothy S. Cabral sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was 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 directly owns 8,391 shares in the company, valued at approximately $1,546,713.03. The disclosure for this sale can be found here. Insiders have sold a total of 21,989 shares of company stock valued at $4,192,363 over the last 90 days. 10.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

VEEV has been the topic of several recent research reports. Raymond James reissued an “outperform” rating and set a $260.00 price target on shares of Veeva Systems in a research report on Tuesday, March 26th. JPMorgan Chase & Co. boosted their price target on shares of Veeva Systems from $183.00 to $222.00 and gave the company a “neutral” rating in a research report on Wednesday, March 13th. Bank of America lowered their price target on shares of Veeva Systems from $240.00 to $204.00 and set a “neutral” rating on the stock in a research report on Friday, May 31st. Morgan Stanley decreased their target price on shares of Veeva Systems from $210.00 to $173.00 and set an “underweight” rating on the stock in a research report on Friday, May 31st. Finally, Citigroup lowered their target price on shares of Veeva Systems from $274.00 to $256.00 and set a “buy” rating for the company in a research note on Monday, June 3rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $227.95.

Veeva Systems 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.