North Star Asset Management Inc. Raises Holdings in Veeva Systems Inc. (NYSE:VEEV)

North Star Asset Management Inc. increased its position in Veeva Systems Inc. (NYSE:VEEV) by 35.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 84,533 shares of the technology company’s stock after buying an additional 22,152 shares during the quarter. North Star Asset Management Inc. owned about 0.05% of Veeva Systems worth $16,274,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Capital Investment Advisory Services LLC raised its position in Veeva Systems by 11.5% in the fourth quarter. Capital Investment Advisory Services LLC now owns 2,946 shares of the technology company’s stock valued at $567,000 after purchasing an additional 303 shares during the period. OLD National Bancorp IN lifted its stake in shares of Veeva Systems by 2.0% during the fourth quarter. OLD National Bancorp IN now owns 47,070 shares of the technology company’s stock worth $9,062,000 after purchasing an additional 923 shares in the last quarter. CWM LLC lifted its stake in shares of Veeva Systems by 7.0% during the fourth quarter. CWM LLC now owns 1,990 shares of the technology company’s stock worth $383,000 after purchasing an additional 130 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Veeva Systems by 18.6% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,706 shares of the technology company’s stock worth $2,446,000 after purchasing an additional 1,990 shares in the last quarter. Finally, Verdence Capital Advisors LLC lifted its stake in shares of Veeva Systems by 21.7% during the fourth quarter. Verdence Capital Advisors LLC now owns 4,521 shares of the technology company’s stock worth $870,000 after purchasing an additional 805 shares in the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Timothy S. Cabral sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $226.04, for a total transaction of $3,390,600.00. Following the completion of the transaction, the director now directly owns 23,391 shares in the company, valued at $5,287,301.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, COO Thomas D. Schwenger sold 1,238 shares of the stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $210.02, for a total transaction of $260,004.76. Following the completion of the sale, the chief operating officer now owns 24,342 shares in the company, valued at approximately $5,112,306.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Timothy S. Cabral sold 15,000 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $226.04, for a total value of $3,390,600.00. Following the sale, the director now owns 23,391 shares of the company’s stock, valued at approximately $5,287,301.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,836 shares of company stock valued at $4,396,902. 10.98% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on VEEV shares. Needham & Company LLC restated a “buy” rating and set a $260.00 price objective on shares of Veeva Systems in a research note on Tuesday, April 2nd. Oppenheimer restated an “outperform” rating and set a $225.00 price objective on shares of Veeva Systems in a research note on Thursday, February 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 target price on shares of Veeva Systems in a research report on Wednesday, March 27th. Citigroup lifted their target price on Veeva Systems from $240.00 to $264.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Finally, Barclays lifted their target price on Veeva Systems from $240.00 to $245.00 and gave the stock an “overweight” rating in a research report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $234.90.

Veeva Systems Stock Down 0.6 %

Shares of NYSE:VEEV traded down $1.16 during trading on Friday, hitting $198.38. 735,422 shares of the company traded hands, compared to its average volume of 955,618. The stock has a market capitalization of $32.00 billion, a price-to-earnings ratio of 61.61, a PEG ratio of 2.00 and a beta of 0.74. The business’s fifty day moving average is $221.17 and its 200-day moving average is $202.83. Veeva Systems Inc. has a one year low of $160.21 and a one year high of $236.90.

Veeva Systems (NYSE:VEEV) last posted its earnings results on Thursday, February 29th. The technology company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.81 by $0.11. The company had revenue of $630.62 million during the quarter, compared to analyst estimates of $620.75 million. Veeva Systems had a return on equity of 11.26% and a net margin of 22.24%. On average, analysts forecast that Veeva Systems Inc. will post 4.11 EPS for the current 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.