EP Wealth Advisors LLC Invests $2.14 Million in Veeva Systems Inc. (NYSE:VEEV)

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EP Wealth Advisors LLC bought a new position in Veeva Systems Inc. (NYSE:VEEVGet Rating) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 10,083 shares of the technology company’s stock, valued at approximately $2,142,000.

Other hedge funds also recently made changes to their positions in the company. Tyler Stone Wealth Management acquired a new stake in shares of Veeva Systems in the fourth quarter valued at about $28,000. Jackson Grant Investment Advisers Inc. acquired a new position in Veeva Systems during the first quarter worth about $28,000. Global Wealth Management Investment Advisory Inc. raised its position in Veeva Systems by 1,230.0% during the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 133 shares of the technology company’s stock worth $34,000 after acquiring an additional 123 shares during the last quarter. TCI Wealth Advisors Inc. raised its position in Veeva Systems by 71.4% during the first quarter. TCI Wealth Advisors Inc. now owns 180 shares of the technology company’s stock worth $38,000 after acquiring an additional 75 shares during the last quarter. Finally, Lansing Street Advisors acquired a new position in Veeva Systems during the first quarter worth about $39,000. Institutional investors and hedge funds own 80.14% of the company’s stock.

Wall Street Analysts Forecast Growth

VEEV has been the subject of a number of research reports. Raymond James lifted their target price on shares of Veeva Systems from $205.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, September 1st. Morgan Stanley lifted their target price on shares of Veeva Systems from $175.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 16th. Canaccord Genuity Group cut their target price on shares of Veeva Systems from $200.00 to $185.00 and set a “hold” rating for the company in a research report on Thursday, September 1st. UBS Group cut their target price on shares of Veeva Systems from $220.00 to $185.00 and set a “neutral” rating for the company in a research report on Thursday, September 1st. Finally, Oppenheimer reiterated an “initiates” rating on shares of Veeva Systems in a report on Wednesday, July 27th. Seven equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $223.20.

Veeva Systems Stock Up 0.4 %

VEEV opened at $174.83 on Friday. Veeva Systems Inc. has a 52-week low of $152.04 and a 52-week high of $327.78. The company has a 50 day moving average of $206.83 and a two-hundred day moving average of $194.76. The company has a market cap of $27.15 billion, a P/E ratio of 71.95, a P/E/G ratio of 4.06 and a beta of 0.76.

Veeva Systems (NYSE:VEEVGet Rating) last released its quarterly earnings data on Wednesday, August 31st. The technology company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.02. Veeva Systems had a net margin of 19.67% and a return on equity of 13.40%. The company had revenue of $534.20 million during the quarter, compared to the consensus estimate of $530.70 million. During the same period in the previous year, the firm earned $0.64 earnings per share. Veeva Systems’s revenue for the quarter was up 17.3% on a year-over-year basis. Research analysts anticipate that Veeva Systems Inc. will post 2.56 earnings per share for the current year.

Insider Transactions at Veeva Systems

In other news, Director Timothy S. Cabral sold 5,000 shares of the business’s stock in a transaction on Thursday, June 23rd. The shares were sold at an average price of $200.03, for a total transaction of $1,000,150.00. Following the transaction, the director now directly owns 113,114 shares of the company’s stock, valued at $22,626,193.42. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Timothy S. Cabral sold 5,000 shares of the business’s stock in a transaction on Thursday, June 23rd. The shares were sold at an average price of $200.03, for a total transaction of $1,000,150.00. Following the transaction, the director now directly owns 113,114 shares of the company’s stock, valued at $22,626,193.42. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Paul Edward Chamberlain sold 260 shares of the business’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $179.99, for a total transaction of $46,797.40. Following the transaction, the director now directly owns 16,443 shares in the company, valued at $2,959,575.57. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,260 shares of company stock valued at $2,739,647. Corporate insiders own 13.23% of the company’s stock.

About Veeva Systems

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Veeva Systems Inc provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, the Middle East, Africa, and Latin America. The company offers Veeva Commercial Cloud, a suite of software, data, and analytics solutions, which include Veeva customer relationship management (CRM) and Veeva Medical CRM, Veeva CLM, Veeva CRM MyInsights, Veeva CLM, Veeva CRM Approved Email, Veeva CRM Engage, Veeva Align, Veeva CRM Events Management, Veeva Nitro, Veeva OpenData, Veeva Link, Veeva Network, Veeva Crossix, Veeva Data Cloud, and MyVeeva for Patients; and Veeva Vault, a cloud-based enterprise content and data management applications for managing commercial functions, including sales and marketing, and medical content and communications, as well as research and development functions, such as clinical, regulatory, quality, and safety.

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