Taika Capital LP lifted its position in shares of Veeva Systems Inc. (NYSE:VEEV – Get Rating) by 92.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,000 shares of the technology company’s stock after buying an additional 8,160 shares during the period. Veeva Systems makes up about 1.4% of Taika Capital LP’s holdings, making the stock its 29th biggest holding. Taika Capital LP’s holdings in Veeva Systems were worth $2,743,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP increased its holdings in Veeva Systems by 1,578.4% in the 1st quarter. Wellington Management Group LLP now owns 1,504,355 shares of the technology company’s stock valued at $319,616,000 after purchasing an additional 1,414,726 shares in the last quarter. Alliancebernstein L.P. grew its position in Veeva Systems by 19.1% in the third quarter. Alliancebernstein L.P. now owns 5,922,651 shares of the technology company’s stock valued at $976,527,000 after acquiring an additional 951,240 shares in the last quarter. Nuveen Asset Management LLC grew its position in Veeva Systems by 36.3% in the third quarter. Nuveen Asset Management LLC now owns 2,148,210 shares of the technology company’s stock valued at $354,196,000 after acquiring an additional 572,197 shares in the last quarter. Artisan Partners Limited Partnership grew its position in Veeva Systems by 6.4% in the third quarter. Artisan Partners Limited Partnership now owns 9,393,531 shares of the technology company’s stock valued at $1,548,805,000 after acquiring an additional 563,361 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new stake in Veeva Systems in the third quarter valued at approximately $86,681,000. Institutional investors and hedge funds own 78.76% of the company’s stock.
Veeva Systems Stock Performance
Shares of VEEV stock traded down $5.05 on Tuesday, reaching $171.50. 611,988 shares of the company’s stock traded hands, compared to its average volume of 902,176. The company has a market capitalization of $27.41 billion, a P/E ratio of 58.65, a price-to-earnings-growth ratio of 3.03 and a beta of 0.92. Veeva Systems Inc. has a 12-month low of $151.02 and a 12-month high of $232.26. The business’s 50 day moving average price is $177.28 and its two-hundred day moving average price is $173.56.
Veeva Systems (NYSE:VEEV – Get Rating) last announced its quarterly earnings data on Wednesday, March 1st. The technology company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.06. The firm had revenue of $563.39 million during the quarter, compared to analyst estimates of $552.18 million. Veeva Systems had a return on equity of 12.42% and a net margin of 22.63%. Research analysts predict that Veeva Systems Inc. will post 2.55 earnings per share for the current year.
Analyst Ratings Changes
Several analysts have recently weighed in on the company. StockNews.com upgraded Veeva Systems from a “hold” rating to a “buy” rating in a research note on Friday, May 5th. Raymond James decreased their price target on shares of Veeva Systems from $215.00 to $200.00 and set an “outperform” rating for the company in a research report on Tuesday, January 17th. TD Cowen raised their price target on shares of Veeva Systems from $184.00 to $189.00 and gave the stock a “market perform” rating in a research report on Monday, March 6th. Truist Financial reissued a “hold” rating and set a $195.00 price target (down previously from $205.00) on shares of Veeva Systems in a research report on Friday, March 17th. Finally, KeyCorp decreased their price target on shares of Veeva Systems from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Friday, March 3rd. Eleven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Veeva Systems has a consensus rating of “Moderate Buy” and a consensus price target of $204.39.
Insider Buying and Selling
In related news, Director Paul J. Sekhri sold 2,658 shares of the stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $181.93, for a total transaction of $483,569.94. Following the completion of the sale, the director now directly owns 16,381 shares in the company, valued at $2,980,195.33. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Veeva Systems news, Director Matthew J. Wallach sold 10,000 shares of Veeva Systems stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $178.56, for a total value of $1,785,600.00. Following the completion of the sale, the director now directly owns 3,145 shares in the company, valued at $561,571.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Paul J. Sekhri sold 2,658 shares of the business’s stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $181.93, for a total value of $483,569.94. Following the completion of the sale, the director now directly owns 16,381 shares of the company’s stock, valued at approximately $2,980,195.33. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,818 shares of company stock worth $2,296,277. 13.23% of the stock is owned by company insiders.
Veeva Systems Company Profile
Veeva Systems, Inc engages in the provision of industry cloud solutions for the global life sciences industry. Its solutions enable pharmaceutical and other life sciences companies to realize the benefits of modern cloud-based architectures and mobile applications for their most critical business functions, without compromising industry-specific functionality or regulatory compliance.