Mcdaniel Terry & Co. Buys New Shares in Veeva Systems Inc. (NYSE:VEEV)

Mcdaniel Terry & Co. bought a new stake in Veeva Systems Inc. (NYSE:VEEV) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 956 shares of the technology company’s stock, valued at approximately $201,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Veeva Systems by 7.5% during the first quarter. Vanguard Group Inc. now owns 14,150,070 shares of the technology company’s stock worth $3,278,430,000 after buying an additional 991,208 shares in the last quarter. Swedbank AB acquired a new stake in shares of Veeva Systems during the first quarter worth $227,673,000. Principal Financial Group Inc. lifted its holdings in shares of Veeva Systems by 1,122.3% during the second quarter. Principal Financial Group Inc. now owns 912,223 shares of the technology company’s stock worth $166,946,000 after buying an additional 837,593 shares in the last quarter. Matrix Capital Management Company LP lifted its holdings in shares of Veeva Systems by 635.4% during the first quarter. Matrix Capital Management Company LP now owns 498,821 shares of the technology company’s stock worth $115,572,000 after buying an additional 430,989 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in shares of Veeva Systems by 83.8% during the first quarter. Acadian Asset Management LLC now owns 618,344 shares of the technology company’s stock worth $143,235,000 after buying an additional 281,993 shares in the last quarter. 88.20% of the stock is owned by institutional investors.

Veeva Systems Stock Down 2.4 %

Shares of VEEV stock opened at $212.61 on Friday. The stock has a market cap of $34.43 billion, a price-to-earnings ratio of 56.70, a PEG ratio of 2.13 and a beta of 0.81. The business’s fifty day moving average is $210.29 and its 200 day moving average is $198.85. Veeva Systems Inc. has a twelve month low of $162.72 and a twelve month high of $236.90.

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

Wall Street Analysts Forecast Growth

VEEV has been the subject of a number of analyst reports. JPMorgan Chase & Co. boosted their price target on Veeva Systems from $203.00 to $208.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. UBS Group boosted their price target on Veeva Systems from $185.00 to $215.00 and gave the company a “neutral” rating in a research note on Monday, August 26th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 price target on shares of Veeva Systems in a research note on Thursday, August 29th. Citigroup boosted their price target on Veeva Systems from $256.00 to $273.00 and gave the company a “buy” rating in a research note on Tuesday, August 27th. Finally, TD Cowen boosted their price target on Veeva Systems from $180.00 to $192.00 and gave the company a “hold” rating in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $232.96.

Insider Activity

In other 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 transaction, the senior vice president now directly owns 9,035 shares of the company’s stock, valued at $1,807,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 10.50% of the company’s stock.

Veeva Systems 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.