Sapient Capital LLC Acquires Shares of 4,645 Veeva Systems Inc. (NYSE:VEEV)

Sapient Capital LLC acquired a new stake in shares of Veeva Systems Inc. (NYSE:VEEV) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 4,645 shares of the technology company’s stock, valued at approximately $894,000.

A number of other institutional investors and hedge funds have also bought and sold shares of VEEV. Wellington Management Group LLP grew its stake in shares of Veeva Systems by 9.6% in the third quarter. Wellington Management Group LLP now owns 3,315,304 shares of the technology company’s stock worth $674,499,000 after acquiring an additional 289,133 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Veeva Systems by 34.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,045,414 shares of the technology company’s stock worth $416,139,000 after acquiring an additional 522,257 shares during the period. FMR LLC grew its stake in shares of Veeva Systems by 15.4% in the third quarter. FMR LLC now owns 1,833,135 shares of the technology company’s stock worth $372,951,000 after acquiring an additional 244,599 shares during the period. Van ECK Associates Corp boosted its holdings 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 buying an additional 327,662 shares during the last quarter. Finally, Blair William & Co. IL boosted its holdings in shares of Veeva Systems by 0.9% in the third quarter. Blair William & Co. IL now owns 1,466,121 shares of the technology company’s stock worth $298,282,000 after buying an additional 12,709 shares during the last quarter. 88.20% of the stock is currently owned by institutional investors.

Veeva Systems Stock Performance

NYSE VEEV traded up $2.02 on Friday, hitting $203.45. 646,523 shares of the stock were exchanged, compared to its average volume of 884,814. Veeva Systems Inc. has a 52-week low of $160.21 and a 52-week high of $236.90. The firm has a market capitalization of $32.82 billion, a P/E ratio of 63.18, a P/E/G ratio of 2.05 and a beta of 0.76. The stock has a fifty day moving average price of $217.38 and a two-hundred day moving average price of $202.14.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings results on Thursday, February 29th. The technology company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.11. Veeva Systems had a net margin of 22.24% and a return on equity of 11.26%. The firm had revenue of $630.62 million during the quarter, compared to analysts’ expectations of $620.75 million. Sell-side analysts expect that Veeva Systems Inc. will post 4.11 earnings per share for the current fiscal year.

Insider Transactions at Veeva Systems

In other Veeva Systems news, EVP Alan Mateo sold 3,391 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $200.86, for a total value of $681,116.26. Following the transaction, the executive vice president now directly owns 21,983 shares in the company, valued at approximately $4,415,505.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Veeva Systems news, EVP Alan Mateo sold 3,391 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $200.86, for a total value of $681,116.26. Following the transaction, the executive vice president now directly owns 21,983 shares in the company, valued at approximately $4,415,505.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jonathan Faddis sold 3,598 shares of the company’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $207.42, for a total transaction of $746,297.16. Following the completion of the transaction, the senior vice president now owns 10,668 shares in the company, valued at $2,212,756.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,989 shares of company stock worth $4,818,013. 10.98% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on VEEV. Oppenheimer reissued an “outperform” rating and issued a $225.00 price objective on shares of Veeva Systems in a report on Thursday, February 22nd. Needham & Company LLC reissued a “buy” rating and issued a $260.00 price objective on shares of Veeva Systems in a report on Tuesday, April 2nd. KeyCorp raised their price objective on shares of Veeva Systems from $232.00 to $250.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. Citigroup raised their price objective on shares of Veeva Systems from $240.00 to $264.00 and gave the stock a “buy” rating in a report on Friday, March 1st. Finally, UBS Group lifted their price target on shares of Veeva Systems from $185.00 to $235.00 and gave the company a “neutral” rating in a report on Monday, February 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, Veeva Systems currently has an average rating of “Moderate Buy” and a consensus target price of $234.90.

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.