GAMMA Investing LLC Buys 113 Shares of Veeva Systems Inc. (NYSE:VEEV)

GAMMA Investing LLC grew its stake in Veeva Systems Inc. (NYSE:VEEV) by 13.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 977 shares of the technology company’s stock after buying an additional 113 shares during the quarter. GAMMA Investing LLC’s holdings in Veeva Systems were worth $205,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Advisors Asset Management Inc. purchased a new stake in Veeva Systems in the 1st quarter worth approximately $28,000. First Financial Corp IN purchased a new stake in shares of Veeva Systems in the first quarter worth $35,000. Larson Financial Group LLC increased its stake in shares of Veeva Systems by 1,153.8% in the first quarter. Larson Financial Group LLC now owns 163 shares of the technology company’s stock worth $38,000 after purchasing an additional 150 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of Veeva Systems by 3,460.0% during the 2nd quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock valued at $33,000 after buying an additional 173 shares in the last quarter. Finally, DT Investment Partners LLC bought a new position in Veeva Systems in the 2nd quarter worth $35,000. Institutional investors own 88.20% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on VEEV shares. Piper Sandler raised their price target on Veeva Systems from $225.00 to $230.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Robert W. Baird boosted their price target on Veeva Systems from $245.00 to $251.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Raymond James upped their price target on Veeva Systems from $230.00 to $235.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 target price on shares of Veeva Systems in a report on Thursday, August 29th. Finally, BTIG Research started coverage on shares of Veeva Systems in a research report on Tuesday, July 9th. They set a “buy” rating and a $240.00 target price for the company. One analyst has rated the stock with a sell rating, seven have given a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $232.96.

Veeva Systems Stock Performance

Shares of VEEV stock opened at $211.32 on Friday. The stock has a 50 day moving average price of $204.85 and a 200 day moving average price of $199.60. The firm has a market capitalization of $34.16 billion, a P/E ratio of 62.34, a P/E/G ratio of 2.01 and a beta of 0.81. Veeva Systems Inc. has a 52-week low of $162.72 and a 52-week high of $236.90.

Veeva Systems (NYSE:VEEV) last issued its earnings results on Wednesday, August 28th. The technology company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.03. The firm had revenue of $676.18 million during the quarter, compared to analyst estimates of $667.21 million. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. As a group, sell-side analysts forecast that Veeva Systems Inc. will post 4.21 EPS for the current year.

Insider Buying and Selling

In other Veeva Systems news, SVP Jonathan Faddis sold 2,353 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $200.00, for a total transaction of $470,600.00. Following the transaction, the senior vice president now owns 9,035 shares of the company’s stock, valued at approximately $1,807,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 10.50% of the stock is owned by insiders.

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.