Merrion Investment Management Co LLC Buys Shares of 1,000 Veeva Systems Inc. (NYSE:VEEV)

Merrion Investment Management Co LLC bought a new stake in Veeva Systems Inc. (NYSE:VEEV) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 1,000 shares of the technology company’s stock, valued at approximately $232,000.

Other large investors have also recently modified their holdings of the company. Linscomb & Williams Inc. acquired a new stake in shares of Veeva Systems in the 4th quarter valued at $1,479,000. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Veeva Systems by 32.7% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 206,220 shares of the technology company’s stock valued at $365,000 after acquiring an additional 50,868 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of Veeva Systems by 703.8% during the 4th quarter. Sequoia Financial Advisors LLC now owns 15,594 shares of the technology company’s stock valued at $3,002,000 after acquiring an additional 13,654 shares in the last quarter. Nordea Investment Management AB boosted its holdings in shares of Veeva Systems by 5.2% during the 4th quarter. Nordea Investment Management AB now owns 163,247 shares of the technology company’s stock valued at $31,730,000 after acquiring an additional 8,007 shares in the last quarter. Finally, APG Asset Management US Inc. acquired a new stake in shares of Veeva Systems during the 4th quarter valued at $5,756,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

Insider Transactions at Veeva Systems

In other news, CFO Timothy S. Cabral sold 15,000 shares of the business’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 value of $2,764,950.00. Following the transaction, the chief financial officer now owns 8,391 shares in the company, valued at approximately $1,546,713.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Timothy S. Cabral sold 15,000 shares of the company’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 value of $2,764,950.00. Following the transaction, the chief financial officer now owns 8,391 shares in the company, valued at $1,546,713.03. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Jonathan Faddis sold 3,598 shares of the company’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 completion of the transaction, the senior vice president now owns 10,668 shares in the company, valued at approximately $2,212,756.56. The disclosure for this sale can be found here. Insiders have sold 21,989 shares of company stock worth $4,192,363 in the last 90 days. Insiders own 10.50% of the company’s stock.

Veeva Systems Price Performance

Shares of NYSE VEEV traded down $2.14 during midday trading on Friday, reaching $183.01. The company’s stock had a trading volume of 1,424,589 shares, compared to its average volume of 1,393,494. Veeva Systems Inc. has a 12-month low of $162.72 and a 12-month high of $236.90. The firm has a 50 day moving average price of $194.68 and a 200-day moving average price of $205.08. The stock has a market capitalization of $29.58 billion, a P/E ratio of 53.99, a PEG ratio of 1.79 and a beta of 0.80.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on VEEV shares. Raymond James reissued an “outperform” rating and set a $260.00 price objective on shares of Veeva Systems in a report on Tuesday, March 26th. Evercore ISI cut their price objective on Veeva Systems from $230.00 to $200.00 and set an “in-line” rating on the stock in a report on Friday, May 31st. Canaccord Genuity Group cut their price objective on Veeva Systems from $220.00 to $210.00 and set a “hold” rating on the stock in a report on Friday, May 31st. Piper Sandler cut their target price on Veeva Systems from $245.00 to $235.00 and set an “overweight” rating on the stock in a report on Friday, May 31st. Finally, KeyCorp lifted their target price on Veeva Systems from $232.00 to $250.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $227.95.

Veeva Systems Company 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.