1,009 Shares in Veeva Systems Inc. (NYSE:VEEV) Acquired by Brookstone Capital Management

Brookstone Capital Management bought a new position in shares of Veeva Systems Inc. (NYSE:VEEV) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,009 shares of the technology company’s stock, valued at approximately $234,000.

Several other institutional investors have also recently added to or reduced their stakes in VEEV. DSM Capital Partners LLC purchased a new stake in Veeva Systems during the fourth quarter worth approximately $29,000. Vermillion & White Wealth Management Group LLC purchased a new stake in Veeva Systems in the fourth quarter valued at approximately $32,000. First Financial Corp IN purchased a new stake in Veeva Systems in the first quarter valued at approximately $35,000. American National Bank purchased a new stake in Veeva Systems in the fourth quarter valued at approximately $36,000. Finally, Atticus Wealth Management LLC lifted its stake in Veeva Systems by 500.0% in the third quarter. Atticus Wealth Management LLC now owns 180 shares of the technology company’s stock valued at $37,000 after buying an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Up 0.6 %

Shares of VEEV stock opened at $182.85 on Wednesday. Veeva Systems Inc. has a fifty-two week low of $162.72 and a fifty-two week high of $236.90. The stock has a market cap of $29.56 billion, a P/E ratio of 53.94, a P/E/G ratio of 1.79 and a beta of 0.80. The business has a fifty day simple moving average of $194.33 and a 200-day simple moving average of $205.27.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings results on Thursday, May 30th. The technology company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.10. Veeva Systems had a return on equity of 12.74% and a net margin of 22.34%. The business had revenue of $650.35 million during the quarter, compared to analysts’ expectations of $641.73 million. On average, sell-side analysts anticipate that Veeva Systems Inc. will post 4.19 earnings per share for the current year.

Insider Activity at Veeva Systems

In related news, CFO Timothy S. Cabral sold 15,000 shares of the 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 sale, the chief financial officer now owns 8,391 shares of the company’s stock, valued at $1,546,713.03. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Veeva Systems news, EVP Alan Mateo sold 3,391 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $200.86, for a total value of $681,116.26. Following the sale, the executive vice president now directly owns 21,983 shares of the company’s stock, valued at approximately $4,415,505.38. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Timothy S. Cabral sold 15,000 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $184.33, for a total value of $2,764,950.00. Following the completion of the sale, the chief financial officer now directly owns 8,391 shares in the company, valued at $1,546,713.03. The disclosure for this sale can be found here. Insiders have sold a total of 21,989 shares of company stock valued at $4,192,363 over the last quarter. Insiders own 10.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on VEEV shares. Truist Financial reduced their price objective on Veeva Systems from $203.00 to $197.00 and set a “hold” rating for the company in a research note on Friday, June 14th. Evercore ISI reduced their price objective on Veeva Systems from $230.00 to $200.00 and set an “in-line” rating for the company in a research note on Friday, May 31st. Raymond James reiterated an “outperform” rating and issued a $260.00 price objective on shares of Veeva Systems in a research note on Tuesday, March 26th. Morgan Stanley dropped their target price on Veeva Systems from $210.00 to $173.00 and set an “underweight” rating on the stock in a report on Friday, May 31st. Finally, Citigroup dropped their target price on Veeva Systems from $274.00 to $256.00 and set a “buy” rating on the stock in a report on Monday, June 3rd. 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. Based on data from MarketBeat.com, Veeva Systems currently has an average rating of “Moderate Buy” and an average price target 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.