Lecap Asset Management Ltd. Has $4.76 Million Holdings in Veeva Systems Inc. (NYSE:VEEV)

Lecap Asset Management Ltd. raised its position in Veeva Systems Inc. (NYSE:VEEV) by 442.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 22,660 shares of the technology company’s stock after acquiring an additional 18,479 shares during the quarter. Veeva Systems makes up 1.0% of Lecap Asset Management Ltd.’s portfolio, making the stock its biggest holding. Lecap Asset Management Ltd.’s holdings in Veeva Systems were worth $4,756,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Advisors Asset Management Inc. bought a new stake in shares of Veeva Systems during the 1st quarter valued at $28,000. Blue Trust Inc. grew its holdings in Veeva Systems by 3,460.0% during the second quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock valued at $33,000 after purchasing an additional 173 shares during the period. First Financial Corp IN purchased a new stake in Veeva Systems in the first quarter worth about $35,000. DT Investment Partners LLC bought a new position in shares of Veeva Systems in the second quarter worth about $35,000. Finally, Larson Financial Group LLC lifted its position in shares of Veeva Systems by 1,153.8% during the 1st quarter. Larson Financial Group LLC now owns 163 shares of the technology company’s stock valued at $38,000 after buying an additional 150 shares in the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. BTIG Research assumed coverage on shares of Veeva Systems in a report on Tuesday, July 9th. They issued a “buy” rating and a $240.00 target price for the company. Citigroup raised their price objective on shares of Veeva Systems from $256.00 to $273.00 and gave the company a “buy” rating in a research report on Tuesday, August 27th. 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. Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 price target on shares of Veeva Systems in a research note on Thursday, August 29th. Finally, UBS Group boosted their price objective on Veeva Systems from $185.00 to $215.00 and gave the company a “neutral” rating in a research report on Monday, August 26th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $232.96.

Insider Transactions at Veeva Systems

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

Veeva Systems Stock Down 1.1 %

Veeva Systems stock opened at $219.51 on Wednesday. Veeva Systems Inc. has a 52-week low of $162.72 and a 52-week high of $236.90. The company has a market cap of $35.55 billion, a price-to-earnings ratio of 58.54, a PEG ratio of 2.15 and a beta of 0.81. The firm’s fifty day moving average is $209.70 and its 200 day moving average is $198.72.

Veeva Systems (NYSE:VEEV) last announced 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 during the quarter, compared to the consensus estimate of $667.21 million. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. On average, equities research analysts anticipate that Veeva Systems Inc. will post 4.21 earnings per share for the current fiscal year.

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.