Aigen Investment Management LP Buys New Position in Veeva Systems Inc (NYSE:VEEV)

Aigen Investment Management LP bought a new stake in Veeva Systems Inc (NYSE:VEEV) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 2,245 shares of the technology company’s stock, valued at approximately $316,000.

A number of other institutional investors have also recently made changes to their positions in VEEV. BlackRock Inc. raised its position in Veeva Systems by 16.3% in the 2nd quarter. BlackRock Inc. now owns 8,770,784 shares of the technology company’s stock valued at $1,421,833,000 after buying an additional 1,231,904 shares during the last quarter. Valeo Financial Advisors LLC grew its stake in Veeva Systems by 19.4% in the third quarter. Valeo Financial Advisors LLC now owns 709 shares of the technology company’s stock valued at $108,000 after purchasing an additional 115 shares in the last quarter. DNB Asset Management AS grew its stake in Veeva Systems by 4.5% in the third quarter. DNB Asset Management AS now owns 24,384 shares of the technology company’s stock valued at $3,723,000 after purchasing an additional 1,045 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Veeva Systems by 19.4% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,947 shares of the technology company’s stock valued at $1,060,000 after purchasing an additional 1,129 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new position in Veeva Systems in the third quarter valued at approximately $263,000. 77.51% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts have weighed in on the company. ValuEngine upgraded Veeva Systems from a “sell” rating to a “hold” rating in a research note on Tuesday, February 4th. Barclays raised their price target on Veeva Systems from $165.00 to $176.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 27th. Deutsche Bank decreased their price target on Veeva Systems from $160.00 to $150.00 and set a “hold” rating for the company in a research note on Tuesday, January 7th. They noted that the move was a valuation call. Canaccord Genuity raised their price target on Veeva Systems from $155.00 to $165.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. Finally, Evercore ISI restated a “hold” rating and issued a $170.00 price target on shares of Veeva Systems in a research note on Thursday, November 28th. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Veeva Systems presently has an average rating of “Buy” and a consensus target price of $177.12.

In related news, SVP Jonathan Faddis sold 1,166 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $144.34, for a total value of $168,300.44. Following the completion of the sale, the senior vice president now directly owns 1,966 shares in the company, valued at approximately $283,772.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Timothy S. Cabral sold 464 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $141.16, for a total value of $65,498.24. Following the completion of the sale, the chief financial officer now owns 2,344 shares of the company’s stock, valued at $330,879.04. The disclosure for this sale can be found here. Insiders sold a total of 34,255 shares of company stock valued at $4,978,719 over the last 90 days. 14.38% of the stock is currently owned by corporate insiders.

Shares of NYSE VEEV opened at $154.47 on Thursday. The company has a current ratio of 5.40, a quick ratio of 5.40 and a debt-to-equity ratio of 0.01. Veeva Systems Inc has a 12 month low of $110.23 and a 12 month high of $176.90. The stock has a 50 day moving average of $146.09 and a 200-day moving average of $150.27. The company has a market capitalization of $22.89 billion, a P/E ratio of 79.62, a P/E/G ratio of 3.64 and a beta of 1.23.

Veeva Systems (NYSE:VEEV) last issued its earnings results on Tuesday, November 26th. The technology company reported $0.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.19. The company had revenue of $280.90 million during the quarter, compared to the consensus estimate of $274.81 million. Veeva Systems had a return on equity of 17.56% and a net margin of 29.86%. The firm’s revenue for the quarter was up 25.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.41 EPS. Analysts predict that Veeva Systems Inc will post 1.64 EPS for the current fiscal year.

Veeva Systems Company Profile

Veeva Systems Inc provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, and internationally. The company offers Veeva Commercial Cloud, a suite of multichannel customer relationship management applications, data solutions, and master data management solutions; and Veeva Vault, a cloud-based enterprise content and data management applications for managing commercial functions, including medical, sales, and marketing, as well as research and development functions, such as clinical, regulatory, quality, and safety.

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Institutional Ownership by Quarter for Veeva Systems (NYSE:VEEV)

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