Cim LLC Buys 219 Shares of Veeva Systems Inc. (NYSE:VEEV)

Cim LLC lifted its position in Veeva Systems Inc. (NYSE:VEEV) by 4.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 5,364 shares of the technology company’s stock after purchasing an additional 219 shares during the quarter. Cim LLC’s holdings in Veeva Systems were worth $982,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Clearbridge Investments LLC grew its holdings in Veeva Systems by 0.4% during the 2nd quarter. Clearbridge Investments LLC now owns 11,682 shares of the technology company’s stock worth $2,138,000 after acquiring an additional 52 shares during the last quarter. Western Pacific Wealth Management LP lifted its position in Veeva Systems by 23.3% during the 1st quarter. Western Pacific Wealth Management LP now owns 307 shares of the technology company’s stock valued at $71,000 after purchasing an additional 58 shares during the period. OV Management LLC boosted its stake in shares of Veeva Systems by 1.0% in the 2nd quarter. OV Management LLC now owns 6,659 shares of the technology company’s stock valued at $1,219,000 after purchasing an additional 63 shares during the last quarter. Simplicity Wealth LLC grew its position in shares of Veeva Systems by 1.7% during the 2nd quarter. Simplicity Wealth LLC now owns 4,029 shares of the technology company’s stock worth $737,000 after buying an additional 69 shares during the period. Finally, Elo Mutual Pension Insurance Co raised its stake in shares of Veeva Systems by 0.5% during the second quarter. Elo Mutual Pension Insurance Co now owns 14,047 shares of the technology company’s stock worth $2,571,000 after buying an additional 70 shares during the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Price Performance

Veeva Systems stock opened at $207.65 on Wednesday. The firm has a market cap of $33.62 billion, a PE ratio of 61.25, a price-to-earnings-growth ratio of 2.05 and a beta of 0.81. The stock’s fifty day moving average price is $202.65 and its two-hundred day moving average price is $200.37. Veeva Systems Inc. has a one year low of $162.72 and a one year high of $236.90.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings results on Wednesday, August 28th. The technology company reported $1.07 EPS for the quarter, topping 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 company had revenue of $676.18 million for the quarter, compared to analysts’ expectations of $667.21 million. Sell-side analysts expect that Veeva Systems Inc. will post 4.21 earnings per share for the current fiscal year.

Insider Transactions at Veeva Systems

In related news, SVP Jonathan Faddis sold 2,353 shares of Veeva Systems stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $200.00, for a total transaction of $470,600.00. Following the sale, the senior vice president now directly owns 9,035 shares of the company’s stock, valued at approximately $1,807,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 10.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have commented on VEEV. JPMorgan Chase & Co. lifted their target price on shares of Veeva Systems from $203.00 to $208.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. Barclays upped their price objective on Veeva Systems from $220.00 to $240.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Bank of America boosted their target price on Veeva Systems from $204.00 to $240.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. TD Cowen lifted their price objective on shares of Veeva Systems from $180.00 to $192.00 and gave the stock a “hold” rating in a research note on Thursday, August 29th. Finally, UBS Group increased their target price on shares of Veeva Systems from $185.00 to $215.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $230.65.

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.