Gilbert & Cook Inc. Acquires New Shares in Veeva Systems Inc. (NYSE:VEEV)

Gilbert & Cook Inc. acquired a new stake in Veeva Systems Inc. (NYSE:VEEV) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 2,156 shares of the technology company’s stock, valued at approximately $452,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. General American Investors Co. Inc. bought a new position in Veeva Systems in the 3rd quarter worth $5,133,000. Procyon Advisors LLC bought a new position in Veeva Systems in the 3rd quarter worth $712,000. Envestnet Portfolio Solutions Inc. raised its holdings in Veeva Systems by 44.9% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 29,782 shares of the technology company’s stock worth $5,450,000 after acquiring an additional 9,232 shares during the period. Principal Financial Group Inc. raised its holdings in 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 worth $457,366,000 after acquiring an additional 1,267,061 shares during the period. Finally, CANADA LIFE ASSURANCE Co raised its holdings in Veeva Systems by 46.9% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 132,760 shares of the technology company’s stock worth $30,786,000 after acquiring an additional 42,396 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, 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 transaction, the insider now directly owns 27,013 shares in the company, valued at $6,483,390.13. The trade was a 4.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jonathan Faddis sold 2,353 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was 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 in the company, valued at $1,807,000. The trade was a 20.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 10.50% of the company’s stock.

Analyst Ratings Changes

VEEV has been the topic of several recent analyst reports. Royal Bank of Canada lifted their target price on shares of Veeva Systems from $250.00 to $275.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Bank of America lifted their target price on shares of Veeva Systems from $204.00 to $240.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. StockNews.com upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. Raymond James boosted their price objective on shares of Veeva Systems from $230.00 to $235.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Finally, Robert W. Baird dropped their price objective on shares of Veeva Systems from $251.00 to $245.00 and set an “outperform” rating on the stock in a report on Monday, October 28th. One analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $237.00.

Veeva Systems Stock Down 7.1 %

NYSE VEEV opened at $213.36 on Friday. The stock has a market cap of $34.55 billion, a P/E ratio of 56.90, a PEG ratio of 2.06 and a beta of 0.81. Veeva Systems Inc. has a twelve month low of $165.12 and a twelve month high of $240.68. The company’s 50-day simple moving average is $215.37 and its 200 day simple moving average is $200.79.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings results on Wednesday, August 28th. The technology company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.03. The firm had revenue of $676.18 million for 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%. Research analysts anticipate that Veeva Systems Inc. will post 4.21 earnings per share for the current year.

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.