Evergreen Capital Management LLC Buys 414 Shares of Veeva Systems Inc. (NYSE:VEEV)

Evergreen Capital Management LLC grew its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 1.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,157 shares of the technology company’s stock after buying an additional 414 shares during the period. Evergreen Capital Management LLC’s holdings in Veeva Systems were worth $4,055,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. APG Asset Management US Inc. bought a new stake in Veeva Systems during the fourth quarter valued at $5,756,000. Eisler Capital UK Ltd. purchased a new position in shares of Veeva Systems during the fourth quarter worth about $1,408,000. Oberndorf William E purchased a new position in shares of Veeva Systems during the fourth quarter worth about $8,011,000. Envestnet Portfolio Solutions Inc. increased its position in shares of Veeva Systems by 44.9% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 29,782 shares of the technology company’s stock worth $5,450,000 after purchasing an additional 9,232 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its stake in Veeva Systems by 30.8% in the first quarter. BNP Paribas Financial Markets now owns 89,023 shares of the technology company’s stock valued at $20,626,000 after purchasing an additional 20,982 shares in the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Jonathan Faddis sold 2,353 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was 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 in the company, valued at approximately $1,807,000. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 10.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on VEEV shares. Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 price target on shares of Veeva Systems in a report on Thursday, August 29th. JPMorgan Chase & Co. increased their target price on Veeva Systems from $203.00 to $208.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. Piper Sandler lifted their price target on Veeva Systems from $225.00 to $230.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Truist Financial increased their price objective on Veeva Systems from $197.00 to $207.00 and gave the company a “hold” rating in a research report on Tuesday, September 3rd. Finally, Citigroup boosted their target price on Veeva Systems from $256.00 to $273.00 and gave the stock a “buy” rating in a research report on Tuesday, August 27th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, Veeva Systems currently has an average rating of “Moderate Buy” and a consensus target price of $229.96.

Veeva Systems Stock Down 1.8 %

NYSE:VEEV opened at $211.04 on Tuesday. The firm’s fifty day simple moving average is $199.76 and its 200 day simple moving average is $201.29. The stock has a market cap of $34.12 billion, a P/E ratio of 62.25, a price-to-earnings-growth ratio of 2.12 and a beta of 0.81. Veeva Systems Inc. has a twelve month low of $162.72 and a twelve month high of $236.90.

Veeva Systems (NYSE:VEEV) last posted its earnings results on Wednesday, August 28th. The technology company reported $1.07 EPS for the quarter, topping the consensus estimate of $1.04 by $0.03. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. The firm had revenue of $676.18 million during the quarter, compared to analysts’ expectations of $667.21 million. On average, analysts expect that Veeva Systems Inc. will post 4.2 EPS for the current fiscal year.

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.