Merrion Investment Management Co LLC Invests $210,000 in Veeva Systems Inc. (NYSE:VEEV)

Merrion Investment Management Co LLC acquired a new stake in Veeva Systems Inc. (NYSE:VEEV) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 1,000 shares of the technology company’s stock, valued at approximately $210,000.

Other institutional investors also recently modified their holdings of the company. Advisors Asset Management Inc. acquired a new position in shares of Veeva Systems during the first quarter valued at about $28,000. Blue Trust Inc. grew its position in Veeva Systems by 3,460.0% in the 2nd quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock worth $33,000 after purchasing an additional 173 shares in the last quarter. First Financial Corp IN purchased a new stake in Veeva Systems in the 1st quarter valued at about $35,000. DT Investment Partners LLC bought a new position in shares of Veeva Systems during the 2nd quarter worth approximately $35,000. Finally, Larson Financial Group LLC boosted its stake in shares of Veeva Systems by 1,153.8% in the 1st quarter. Larson Financial Group LLC now owns 163 shares of the technology company’s stock worth $38,000 after buying an additional 150 shares during the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Insider Buying and Selling

In related news, SVP Jonathan Faddis sold 2,353 shares of the company’s stock in a transaction 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 completion of the sale, the senior vice president now directly owns 9,035 shares in the company, valued at $1,807,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 10.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

VEEV has been the topic of a number of recent analyst reports. Barclays lifted their price target on Veeva Systems from $220.00 to $240.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Piper Sandler lifted their target price on Veeva Systems from $225.00 to $230.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Guggenheim increased their price target on shares of Veeva Systems from $233.00 to $249.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Citigroup increased their price objective on Veeva Systems from $256.00 to $273.00 and gave the company a “buy” rating in a report on Tuesday, August 27th. Finally, BNP Paribas began coverage on shares of Veeva Systems in a research note on Tuesday. They issued an “outperform” rating and a $286.00 target price for the company. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, Veeva Systems presently has an average rating of “Moderate Buy” and a consensus target price of $232.96.

Veeva Systems Price Performance

Shares of NYSE VEEV opened at $210.13 on Friday. The stock has a market capitalization of $34.03 billion, a P/E ratio of 56.03, a PEG ratio of 2.01 and a beta of 0.81. Veeva Systems Inc. has a one year low of $162.72 and a one year high of $236.90. The firm’s 50 day simple moving average is $204.43 and its two-hundred day simple moving average is $199.52.

Veeva Systems (NYSE:VEEV) last issued its earnings results on Wednesday, August 28th. The technology company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.03. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. The company had revenue of $676.18 million for the quarter, compared to analysts’ expectations of $667.21 million. As a group, equities analysts expect that Veeva Systems Inc. will post 4.21 earnings per share for the current fiscal 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.