20,365 Shares in Veeva Systems Inc. (NYSE:VEEV) Bought by Ceera Investments LLC

Ceera Investments LLC purchased a new position in Veeva Systems Inc. (NYSE:VEEV - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 20,365 shares of the technology company's stock, valued at approximately $4,274,000. Veeva Systems comprises 1.6% of Ceera Investments LLC's holdings, making the stock its 22nd largest holding.

Other large investors have also added to or reduced their stakes in the company. General American Investors Co. Inc. bought a new stake in shares of Veeva Systems during the third quarter valued at approximately $5,133,000. Procyon Advisors LLC bought a new position in Veeva Systems during the third quarter valued at approximately $712,000. Envestnet Portfolio Solutions Inc. boosted its holdings in Veeva Systems by 44.9% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 29,782 shares of the technology company's stock worth $5,450,000 after purchasing an additional 9,232 shares during the last quarter. Principal Financial Group Inc. raised its stake in Veeva Systems by 138.9% during 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 buying an additional 1,267,061 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its holdings in shares of Veeva Systems by 46.9% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 132,760 shares of the technology company's stock valued at $30,786,000 after buying an additional 42,396 shares during the period. Hedge funds and other institutional investors own 88.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on VEEV shares. Guggenheim raised their target price on Veeva Systems from $233.00 to $249.00 and gave the stock a "buy" rating in a report on Tuesday, October 1st. Piper Sandler upped their price target 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. JPMorgan Chase & Co. lifted their target price 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. BNP Paribas started coverage on Veeva Systems in a research note on Tuesday, October 8th. They issued an "outperform" rating and a $286.00 price target for the company. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $260.00 price objective on shares of Veeva Systems in a research note on Friday, November 8th. One investment 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 MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $237.00.

Veeva Systems Trading Down 7.1 %

Shares of NYSE:VEEV traded down $16.35 during midday trading on Friday, hitting $213.36. 1,860,003 shares of the stock were exchanged, compared to its average volume of 876,947. The company has a 50 day moving average price of $215.37 and a 200-day moving average price of $200.79. 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.

Veeva Systems (NYSE:VEEV - Get Free Report) last issued its quarterly earnings results on Wednesday, August 28th. The technology company reported $1.07 earnings per share for the quarter, topping analysts' consensus estimates of $1.04 by $0.03. Veeva Systems had a return on equity of 13.30% and a net margin of 23.91%. The company had revenue of $676.18 million for the quarter, compared to analyst estimates of $667.21 million. On average, equities research analysts expect that Veeva Systems Inc. will post 4.21 earnings per share for the current year.

Insider Buying and Selling at Veeva Systems

In related news, SVP Jonathan Faddis sold 2,353 shares of the company's stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 9,035 shares in the company, valued at $1,807,000. This represents a 20.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thomas D. Schwenger sold 1,126 shares of the company's stock in a transaction dated 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 owns 27,013 shares of the company's stock, valued at approximately $6,483,390.13. This trade represents a 4.00 % decrease in their position. The disclosure for this sale can be found here. 10.50% of the stock is currently owned by corporate insiders.

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.