GSA Capital Partners LLP Purchases Shares of 2,505 Veeva Systems Inc. (NYSE:VEEV)

GSA Capital Partners LLP purchased a new stake in Veeva Systems Inc. (NYSE:VEEV) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 2,505 shares of the technology company’s stock, valued at approximately $526,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. General American Investors Co. Inc. acquired a new position in Veeva Systems in the 3rd quarter valued at approximately $5,133,000. Procyon Advisors LLC bought a new stake in shares of Veeva Systems in the 3rd quarter valued at $712,000. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Veeva Systems by 44.9% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 29,782 shares of the technology company’s stock valued at $5,450,000 after purchasing an additional 9,232 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Veeva Systems by 138.9% in the 3rd quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock valued at $457,366,000 after purchasing an additional 1,267,061 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its stake in shares of Veeva Systems by 46.9% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 132,760 shares of the technology company’s stock valued at $30,786,000 after purchasing an additional 42,396 shares during the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Thomas D. Schwenger sold 1,126 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $240.01, for a total transaction of $270,251.26. Following the completion of the sale, the insider now owns 27,013 shares in the company, valued at approximately $6,483,390.13. This trade represents a 4.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 10.50% of the stock is currently owned by corporate insiders.

Veeva Systems Price Performance

Shares of VEEV stock opened at $209.80 on Wednesday. The firm has a 50-day moving average of $214.95 and a 200-day moving average of $200.93. The company has a market cap of $33.97 billion, a P/E ratio of 55.95, a P/E/G ratio of 2.06 and a beta of 0.81. Veeva Systems Inc. has a one year low of $165.12 and a one year high of $240.68.

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

Wall Street Analysts Forecast Growth

VEEV has been the topic of a number of analyst reports. Guggenheim upped their price objective on shares of Veeva Systems from $233.00 to $249.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Piper Sandler upped their price objective on shares of Veeva Systems from $230.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. UBS Group upped their price objective on shares of Veeva Systems from $185.00 to $215.00 and gave the company a “neutral” rating in a research note on Monday, August 26th. JPMorgan Chase & Co. upped their price objective on shares of Veeva Systems from $203.00 to $208.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. Finally, StockNews.com raised shares of Veeva Systems from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $236.92.

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.