Van ECK Associates Corp Has $341.74 Million Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Van ECK Associates Corp boosted its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 22.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,775,065 shares of the technology company’s stock after purchasing an additional 327,662 shares during the quarter. Van ECK Associates Corp owned about 1.10% of Veeva Systems worth $341,736,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. OFI Invest Asset Management bought a new position in shares of Veeva Systems in the 3rd quarter worth $25,000. Operose Advisors LLC acquired a new position in Veeva Systems in the third quarter valued at about $29,000. Parkside Financial Bank & Trust increased its stake in shares of Veeva Systems by 81.9% in the 3rd quarter. Parkside Financial Bank & Trust now owns 171 shares of the technology company’s stock valued at $35,000 after acquiring an additional 77 shares during the last quarter. Atticus Wealth Management LLC boosted its stake in Veeva Systems by 500.0% during the 3rd quarter. Atticus Wealth Management LLC now owns 180 shares of the technology company’s stock worth $37,000 after acquiring an additional 150 shares during the last quarter. Finally, Nkcfo LLC grew its holdings in Veeva Systems by 54.7% during the third quarter. Nkcfo LLC now owns 232 shares of the technology company’s stock valued at $47,000 after purchasing an additional 82 shares during the period. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Veeva Systems Trading Up 0.3 %

Shares of NYSE:VEEV traded up $0.66 during trading on Monday, reaching $201.57. 814,814 shares of the stock were exchanged, compared to its average volume of 968,906. The firm has a market cap of $32.52 billion, a PE ratio of 62.39, a PEG ratio of 2.03 and a beta of 0.74. Veeva Systems Inc. has a 12 month low of $160.21 and a 12 month high of $236.90. The stock has a 50-day moving average price of $219.27 and a 200-day moving average price of $202.45.

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

Insiders Place Their Bets

In related news, EVP Alan Mateo sold 3,391 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $200.86, for a total transaction of $681,116.26. Following the sale, the executive vice president now owns 21,983 shares of the company’s stock, valued at $4,415,505.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 shares were sold at an average price of $226.04, for a total value of $3,390,600.00. Following the completion of the transaction, the director now directly owns 23,391 shares in the company, valued at approximately $5,287,301.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Alan Mateo sold 3,391 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $200.86, for a total transaction of $681,116.26. Following the sale, the executive vice president now owns 21,983 shares in the company, valued at approximately $4,415,505.38. The disclosure for this sale can be found here. Insiders have sold a total of 21,989 shares of company stock worth $4,818,013 in the last quarter. Corporate insiders own 10.98% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on VEEV. Needham & Company LLC reissued a “buy” rating and set a $260.00 price target on shares of Veeva Systems in a research report on Tuesday, April 2nd. Stifel Nicolaus increased their price target on Veeva Systems from $205.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, March 1st. Piper Sandler lifted their price objective on Veeva Systems from $220.00 to $245.00 and gave the company an “overweight” rating in a report on Friday, March 1st. Citigroup boosted their price objective on Veeva Systems from $240.00 to $264.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Finally, Royal Bank of Canada restated an “outperform” rating and set a $250.00 price objective on shares of Veeva Systems in a report on Wednesday, March 27th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, Veeva Systems has a consensus rating of “Moderate Buy” and a consensus price target of $234.90.

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.