NBC Securities Inc. Takes $283,000 Position in Veeva Systems Inc. (NYSE:VEEV)

NBC Securities Inc. purchased a new stake in shares of Veeva Systems Inc. (NYSE:VEEV) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 1,225 shares of the technology company’s stock, valued at approximately $283,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Facet Wealth Inc. grew its holdings 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 purchasing an additional 48 shares during the last quarter. Yousif Capital Management LLC grew its holdings 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 purchasing an additional 60 shares during the last quarter. Personal CFO Solutions LLC grew its holdings in shares of Veeva Systems by 5.9% during the 3rd quarter. Personal CFO Solutions LLC now owns 1,091 shares of the technology company’s stock valued at $222,000 after purchasing an additional 61 shares during the last quarter. Quadrant Capital Group LLC grew its holdings 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 purchasing an additional 68 shares during the last quarter. Finally, Parkside Financial Bank & Trust grew its holdings 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 purchasing an additional 77 shares during the last quarter. 88.20% of the stock is owned by institutional investors.

Veeva Systems Stock Up 0.6 %

Veeva Systems stock opened at $184.88 on Friday. Veeva Systems Inc. has a 12-month low of $162.72 and a 12-month high of $236.90. The firm’s fifty day moving average is $196.16 and its 200 day moving average is $204.72. The company has a market capitalization of $29.89 billion, a PE ratio of 54.54, a PEG ratio of 1.81 and a beta of 0.80.

Veeva Systems (NYSE:VEEV) last released its earnings results on Thursday, May 30th. The technology company reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.10. Veeva Systems had a net margin of 22.34% and a return on equity of 12.74%. The company had revenue of $650.35 million for the quarter, compared to the consensus estimate of $641.73 million. Sell-side analysts expect that Veeva Systems Inc. will post 4.17 EPS for the current fiscal year.

Insider Activity at Veeva Systems

In related news, SVP Jonathan Faddis sold 3,598 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $207.42, for a total transaction of $746,297.16. Following the transaction, the senior vice president now owns 10,668 shares in the company, valued at approximately $2,212,756.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Veeva Systems news, SVP Jonathan Faddis sold 3,598 shares of the company’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $207.42, for a total transaction of $746,297.16. Following the transaction, the senior vice president now owns 10,668 shares in the company, valued at $2,212,756.56. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Timothy S. Cabral sold 15,000 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now 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 21,989 shares of company stock worth $4,192,363 in the last quarter. Company insiders own 10.50% of the company’s stock.

Wall Street Analysts Forecast Growth

VEEV has been the topic of a number of research reports. Barclays reduced their target price on shares of Veeva Systems from $245.00 to $220.00 and set an “overweight” rating on the stock in a report on Friday, May 31st. Needham & Company LLC reissued a “buy” rating and set a $260.00 target price on shares of Veeva Systems in a report on Friday, May 31st. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 target price on shares of Veeva Systems in a report on Friday. Bank of America reduced their target price on shares of Veeva Systems from $240.00 to $204.00 and set a “neutral” rating on the stock in a report on Friday, May 31st. Finally, Canaccord Genuity Group reduced their target price on shares of Veeva Systems from $220.00 to $210.00 and set a “hold” rating on the stock in a report on Friday, May 31st. One analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Veeva Systems currently has an average rating of “Moderate Buy” and an average target price 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.