General American Investors Co. Inc. Buys New Position in Veeva Systems Inc. (NYSE:VEEV)

General American Investors Co. Inc. acquired a new position in shares of 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 fund acquired 24,457 shares of the technology company's stock, valued at approximately $5,133,000.

A number of other large investors have also made changes to their positions in the stock. Procyon Advisors LLC bought a new position in Veeva Systems during the third quarter valued at about $712,000. Envestnet Portfolio Solutions Inc. raised its stake in shares of Veeva Systems by 44.9% in the second 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 in the last quarter. CANADA LIFE ASSURANCE Co raised its stake in shares of Veeva Systems by 46.9% in the first 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 in the last quarter. SageView Advisory Group LLC lifted its position in Veeva Systems by 11,010.4% in the first quarter. SageView Advisory Group LLC now owns 168,545 shares of the technology company's stock worth $39,050,000 after purchasing an additional 167,028 shares during the period. Finally, Russell Investments Group Ltd. increased its holdings in Veeva Systems by 13.0% in the 1st quarter. Russell Investments Group Ltd. now owns 178,851 shares of the technology company's stock valued at $41,506,000 after buying an additional 20,523 shares during the period. Institutional investors and hedge funds own 88.20% of the company's stock.

Insider Activity at Veeva Systems

In related news, SVP Jonathan Faddis sold 2,353 shares of Veeva Systems stock in a transaction that occurred on Wednesday, August 21st. The shares were 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 of the company's stock, valued at $1,807,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 10.50% of the stock is currently owned by corporate insiders.

Veeva Systems Stock Performance

Veeva Systems stock traded up $6.94 during trading hours on Thursday, reaching $223.39. 1,188,290 shares of the company's stock traded hands, compared to its average volume of 936,503. The firm has a market capitalization of $36.17 billion, a price-to-earnings ratio of 59.39, a PEG ratio of 2.07 and a beta of 0.81. Veeva Systems Inc. has a fifty-two week low of $162.72 and a fifty-two week high of $236.90. The firm's 50 day moving average is $213.48 and its 200-day moving average is $199.34.

Veeva Systems (NYSE:VEEV - Get Free Report) last announced its quarterly earnings data on Wednesday, August 28th. The technology company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.03. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. The business had revenue of $676.18 million for the quarter, compared to analyst estimates of $667.21 million. Analysts predict that Veeva Systems Inc. will post 4.21 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on VEEV. StockNews.com lowered shares of Veeva Systems from a "buy" rating to a "hold" rating in a research report on Friday, November 1st. Guggenheim lifted their price objective on Veeva Systems from $233.00 to $249.00 and gave the company a "buy" rating in a report on Tuesday, October 1st. JPMorgan Chase & Co. increased their target price on Veeva Systems from $203.00 to $208.00 and gave the stock a "neutral" rating in a report on Monday, September 9th. Barclays raised their target price on Veeva Systems from $220.00 to $240.00 and gave the stock an "overweight" rating in a research report on Thursday, August 29th. Finally, TD Cowen increased their price objective on Veeva Systems from $180.00 to $192.00 and gave the stock a "hold" rating in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $232.87.

About Veeva Systems

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.