GSA Capital Partners LLP Invests $526,000 in Veeva Systems Inc. (NYSE:VEEV)

GSA Capital Partners LLP bought a new position in Veeva Systems Inc. (NYSE:VEEV - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,505 shares of the technology company's stock, valued at approximately $526,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. General American Investors Co. Inc. bought a new stake in Veeva Systems in the 3rd quarter worth approximately $5,133,000. Procyon Advisors LLC bought a new stake in Veeva Systems in the 3rd quarter valued at $712,000. Envestnet Portfolio Solutions Inc. boosted its stake in Veeva Systems by 44.9% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 29,782 shares of the technology company's stock valued at $5,450,000 after buying an additional 9,232 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Veeva Systems by 138.9% in the third 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 in the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its holdings 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 acquiring an additional 42,396 shares during the last quarter. Institutional investors own 88.20% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on VEEV shares. Citigroup raised their price target on shares of Veeva Systems from $256.00 to $273.00 and gave the stock a "buy" rating in a research note on Tuesday, August 27th. JPMorgan Chase & Co. lifted 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. Piper Sandler upped their price target on Veeva Systems from $230.00 to $280.00 and gave the stock an "overweight" rating in a report on Friday, November 8th. Bank of America raised their price target on shares of Veeva Systems from $204.00 to $240.00 and gave the stock a "neutral" rating in a research note on Thursday, August 29th. Finally, Royal Bank of Canada upped their target price on shares of Veeva Systems from $250.00 to $275.00 and gave the company an "outperform" rating in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $236.92.

Veeva Systems Trading Down 1.8 %

Shares of NYSE VEEV opened at $209.80 on Wednesday. The business has a fifty day simple moving average of $214.95 and a 200 day simple moving average of $200.93. The firm has a market capitalization of $33.97 billion, a price-to-earnings ratio of 55.95, a PEG 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 - Get Free Report) last posted its earnings results on Wednesday, August 28th. The technology company reported $1.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.04 by $0.03. The company had revenue of $676.18 million during the quarter, compared to analysts' expectations of $667.21 million. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. On average, research analysts anticipate that Veeva Systems Inc. will post 4.21 earnings per share for the current fiscal year.

Insider Transactions at Veeva Systems

In other news, insider Thomas D. Schwenger sold 1,126 shares of Veeva Systems stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $240.01, for a total value of $270,251.26. Following the sale, the insider now directly owns 27,013 shares in the company, valued at $6,483,390.13. This trade represents a 4.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 10.50% of the company's stock.

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.