Mesirow Financial Investment Management Inc. Makes New Investment in Veeva Systems Inc. (NYSE:VEEV)

Mesirow Financial Investment Management Inc. acquired a new stake in shares of Veeva Systems Inc. (NYSE:VEEV) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 1,796 shares of the technology company’s stock, valued at approximately $377,000.

A number of other hedge funds also recently bought and sold shares of VEEV. RKL Wealth Management LLC acquired a new stake in shares of Veeva Systems in the third quarter valued at $219,000. Atria Investments Inc raised its position in Veeva Systems by 13.7% in the 3rd quarter. Atria Investments Inc now owns 14,999 shares of the technology company’s stock valued at $3,148,000 after purchasing an additional 1,811 shares in the last quarter. Bridges Investment Management Inc. purchased a new position in shares of Veeva Systems in the 3rd quarter valued at about $269,000. Assetmark Inc. grew its position in shares of Veeva Systems by 46.4% during the third quarter. Assetmark Inc. now owns 48,205 shares of the technology company’s stock worth $10,117,000 after buying an additional 15,289 shares in the last quarter. Finally, Verdence Capital Advisors LLC increased its stake in shares of Veeva Systems by 4.8% during the third quarter. Verdence Capital Advisors LLC now owns 5,065 shares of the technology company’s stock worth $1,063,000 after buying an additional 230 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.

Insider Activity

In related news, insider Thomas D. Schwenger sold 1,126 shares of Veeva Systems stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $240.01, for a total transaction of $270,251.26. Following the completion of the transaction, the insider now directly owns 27,013 shares in the company, valued at $6,483,390.13. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Veeva Systems news, SVP Jonathan Faddis sold 2,353 shares of the 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 transaction, the senior vice president now owns 9,035 shares of the company’s stock, valued at $1,807,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Thomas D. Schwenger sold 1,126 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $240.01, for a total value of $270,251.26. Following the sale, the insider now directly owns 27,013 shares of the company’s stock, valued at approximately $6,483,390.13. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 10.50% of the company’s stock.

Veeva Systems Stock Down 0.2 %

Shares of NYSE VEEV opened at $236.49 on Wednesday. The stock has a market capitalization of $38.30 billion, a price-to-earnings ratio of 63.20, a price-to-earnings-growth ratio of 2.29 and a beta of 0.81. Veeva Systems Inc. has a 52 week low of $162.85 and a 52 week high of $240.68. The firm has a 50-day moving average price of $214.39 and a 200 day moving average price of $200.01.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Wednesday, August 28th. The technology company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.03. The firm had revenue of $676.18 million during the quarter, compared to analysts’ expectations of $667.21 million. Veeva Systems had a return on equity of 13.30% and a net margin of 23.91%. Equities research analysts expect that Veeva Systems Inc. will post 4.21 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on VEEV. BNP Paribas initiated coverage on shares of Veeva Systems in a report on Tuesday, October 8th. They set an “outperform” rating and a $286.00 price target for the company. JPMorgan Chase & Co. raised their price target on Veeva Systems from $203.00 to $208.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. Bank of America raised 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. UBS Group upped their price target on Veeva Systems from $185.00 to $215.00 and gave the company a “neutral” rating in a report on Monday, August 26th. Finally, Piper Sandler boosted their price objective on shares of Veeva Systems from $230.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $237.00.

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.