Cross Staff Investments Inc Acquires Shares of 1,000 Veeva Systems Inc. (NYSE:VEEV)

Cross Staff Investments Inc bought a new position in Veeva Systems Inc. (NYSE:VEEV) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,000 shares of the technology company’s stock, valued at approximately $210,000.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Veeva Systems by 7.5% in the 1st quarter. Vanguard Group Inc. now owns 14,150,070 shares of the technology company’s stock worth $3,278,430,000 after purchasing an additional 991,208 shares during the period. Swedbank AB acquired a new stake in shares of Veeva Systems in the first quarter worth $227,673,000. Principal Financial Group Inc. raised its position in Veeva Systems by 1,122.3% during the second quarter. Principal Financial Group Inc. now owns 912,223 shares of the technology company’s stock valued at $166,946,000 after buying an additional 837,593 shares during the period. Matrix Capital Management Company LP raised its position in Veeva Systems by 635.4% during the first quarter. Matrix Capital Management Company LP now owns 498,821 shares of the technology company’s stock valued at $115,572,000 after buying an additional 430,989 shares during the period. Finally, Acadian Asset Management LLC lifted its stake in Veeva Systems by 83.8% in the 1st quarter. Acadian Asset Management LLC now owns 618,344 shares of the technology company’s stock worth $143,235,000 after acquiring an additional 281,993 shares in the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

VEEV has been the topic of a number of research reports. TD Cowen upped their target price on Veeva Systems from $180.00 to $192.00 and gave the company a “hold” rating in a report on Thursday, August 29th. Barclays increased their target price on shares of Veeva Systems from $220.00 to $240.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Royal Bank of Canada restated an “outperform” rating and set a $250.00 price target on shares of Veeva Systems in a report on Thursday, August 29th. BTIG Research began coverage on Veeva Systems in a report on Tuesday, July 9th. They set a “buy” rating and a $240.00 price objective for the company. Finally, Truist Financial boosted their target price on Veeva Systems from $197.00 to $207.00 and gave the company a “hold” rating in a research note on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, Veeva Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $232.96.

Insider Activity

In related news, SVP Jonathan Faddis sold 2,353 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $200.00, for a total value of $470,600.00. Following the completion of the transaction, the senior vice president now owns 9,035 shares of the company’s stock, valued at $1,807,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 10.50% of the stock is owned by company insiders.

Veeva Systems Stock Down 2.4 %

VEEV stock opened at $212.61 on Friday. Veeva Systems Inc. has a twelve month low of $162.72 and a twelve month high of $236.90. The company has a market cap of $34.43 billion, a PE ratio of 56.70, a price-to-earnings-growth ratio of 2.13 and a beta of 0.81. The business’s 50-day simple moving average is $210.29 and its 200 day simple moving average is $198.85.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Wednesday, August 28th. The technology company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.03. Veeva Systems had a return on equity of 13.30% and a net margin of 23.91%. The business had revenue of $676.18 million for the quarter, compared to analysts’ expectations of $667.21 million. On average, equities research analysts anticipate that Veeva Systems Inc. will post 4.21 EPS 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.