Pinebridge Investments L.P. Acquires 4,601 Shares of Veeva Systems Inc. (NYSE:VEEV)

Pinebridge Investments L.P. lifted its holdings in Veeva Systems Inc. (NYSE:VEEVGet Rating) by 38.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 16,622 shares of the technology company’s stock after buying an additional 4,601 shares during the period. Pinebridge Investments L.P.’s holdings in Veeva Systems were worth $4,247,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of VEEV. Artisan Partners Limited Partnership increased its position in Veeva Systems by 9.3% in the 3rd quarter. Artisan Partners Limited Partnership now owns 7,222,654 shares of the technology company’s stock valued at $2,081,352,000 after buying an additional 612,776 shares in the last quarter. Franklin Resources Inc. increased its position in Veeva Systems by 1.2% in the 3rd quarter. Franklin Resources Inc. now owns 3,102,097 shares of the technology company’s stock valued at $893,932,000 after buying an additional 35,451 shares in the last quarter. Brown Advisory Inc. increased its position in Veeva Systems by 15.9% in the 4th quarter. Brown Advisory Inc. now owns 2,484,307 shares of the technology company’s stock valued at $634,690,000 after buying an additional 340,105 shares in the last quarter. Geode Capital Management LLC increased its position in Veeva Systems by 4.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,022,303 shares of the technology company’s stock valued at $582,017,000 after buying an additional 93,779 shares in the last quarter. Finally, UBS Asset Management Americas Inc. increased its position in Veeva Systems by 154.5% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 1,145,996 shares of the technology company’s stock valued at $330,242,000 after buying an additional 695,661 shares in the last quarter.

A number of equities analysts have issued reports on the company. Piper Sandler cut their price target on Veeva Systems from $300.00 to $290.00 and set an “overweight” rating for the company in a research note on Thursday, March 3rd. Needham & Company LLC cut their price target on Veeva Systems from $327.00 to $270.00 and set a “buy” rating for the company in a research note on Thursday, March 3rd. StockNews.com upgraded Veeva Systems from a “hold” rating to a “buy” rating in a research note on Friday. Barclays cut their price target on Veeva Systems from $310.00 to $260.00 and set an “equal weight” rating for the company in a research note on Monday, February 28th. Finally, SVB Leerink reiterated a “buy” rating and set a $268.00 price target on shares of Veeva Systems in a research note on Monday, March 14th. Six analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, Veeva Systems has an average rating of “Buy” and a consensus price target of $285.58.

In other news, Director Ronald E. F. Codd sold 20,000 shares of the company’s stock in a transaction on Wednesday, April 6th. The shares were sold at an average price of $207.14, for a total value of $4,142,800.00. Following the transaction, the director now owns 442 shares of the company’s stock, valued at $91,555.88. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Paul J. Sekhri sold 11,000 shares of the company’s stock in a transaction on Thursday, March 31st. The stock was sold at an average price of $214.02, for a total transaction of $2,354,220.00. The disclosure for this sale can be found here. Insiders own 13.18% of the company’s stock.

Veeva Systems stock opened at $172.78 on Friday. Veeva Systems Inc. has a 12 month low of $156.57 and a 12 month high of $343.96. The business’s 50 day simple moving average is $189.90 and its 200 day simple moving average is $233.60. The company has a market cap of $26.67 billion, a price-to-earnings ratio of 65.70, a PEG ratio of 3.21 and a beta of 0.85.

Veeva Systems (NYSE:VEEVGet Rating) last posted its quarterly earnings data on Wednesday, March 2nd. The technology company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.59 by $0.01. Veeva Systems had a return on equity of 15.61% and a net margin of 23.09%. The business had revenue of $485.50 million for the quarter, compared to the consensus estimate of $479.98 million. During the same quarter in the prior year, the business earned $0.54 earnings per share. Equities analysts anticipate that Veeva Systems Inc. will post 2.76 earnings per share for the current year.

About Veeva Systems (Get Rating)

Veeva Systems Inc provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, the Middle East, Africa, and Latin America. The company offers Veeva Commercial Cloud, a suite of software, data, and analytics solutions, which include Veeva customer relationship management (CRM) and Veeva Medical CRM, Veeva CLM, Veeva CRM MyInsights, Veeva CLM, Veeva CRM Approved Email, Veeva CRM Engage, Veeva Align, Veeva CRM Events Management, Veeva Nitro, Veeva OpenData, Veeva Link, Veeva Network, Veeva Crossix, Veeva Data Cloud, and MyVeeva for Patients; and Veeva Vault, a cloud-based enterprise content and data management applications for managing commercial functions, including sales and marketing, and medical content and communications, as well as research and development functions, such as clinical, regulatory, quality, and safety.

See Also

Want to see what other hedge funds are holding VEEV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Veeva Systems Inc. (NYSE:VEEVGet Rating).

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

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