Merrion Investment Management Co LLC Buys Shares of 1,000 Veeva Systems Inc. (NYSE:VEEV)

Merrion Investment Management Co LLC bought a new stake in shares of Veeva Systems Inc. (NYSE:VEEV) in the first quarter, Holdings Channel reports. The fund bought 1,000 shares of the technology company’s stock, valued at approximately $232,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Operose Advisors LLC bought a new stake in shares of Veeva Systems during the third quarter valued at approximately $29,000. DSM Capital Partners LLC purchased a new stake in Veeva Systems in the fourth quarter worth approximately $29,000. First Financial Corp IN purchased a new stake in Veeva Systems in the first quarter worth approximately $35,000. Vermillion & White Wealth Management Group LLC purchased a new stake in Veeva Systems in the fourth quarter worth approximately $32,000. Finally, Atticus Wealth Management LLC boosted its holdings in Veeva Systems by 500.0% in the third quarter. Atticus Wealth Management LLC now owns 180 shares of the technology company’s stock worth $37,000 after purchasing an additional 150 shares during the last quarter. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Down 1.2 %

NYSE VEEV traded down $2.14 on Friday, reaching $183.01. The company had a trading volume of 1,424,589 shares, compared to its average volume of 1,393,494. The stock has a market capitalization of $29.58 billion, a PE ratio of 53.99, a price-to-earnings-growth ratio of 1.79 and a beta of 0.80. The firm’s 50 day moving average price is $194.68 and its 200 day moving average price is $205.08. Veeva Systems Inc. has a 12 month low of $162.72 and a 12 month high of $236.90.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings results on Thursday, May 30th. The technology company reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.10. The company had revenue of $650.35 million for the quarter, compared to the consensus estimate of $641.73 million. Veeva Systems had a net margin of 22.34% and a return on equity of 12.74%. On average, research analysts expect that Veeva Systems Inc. will post 4.19 EPS for the current year.

Analyst Ratings Changes

VEEV has been the topic of several research reports. Truist Financial dropped their target price on shares of Veeva Systems from $203.00 to $197.00 and set a “hold” rating on the stock in a report on Friday, June 14th. Barclays dropped their target price on shares of Veeva Systems from $245.00 to $220.00 and set an “overweight” rating on the stock in a report on Friday, May 31st. Stifel Nicolaus dropped their price target on shares of Veeva Systems from $250.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, May 31st. Morgan Stanley dropped their price target on shares of Veeva Systems from $210.00 to $173.00 and set an “underweight” rating on the stock in a research note on Friday, May 31st. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 price target on shares of Veeva Systems in a research note on Friday, June 21st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $227.95.

Insider Buying and Selling at Veeva Systems

In other news, EVP Alan Mateo sold 3,391 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $200.86, for a total value of $681,116.26. Following the sale, the executive vice president now directly owns 21,983 shares in the company, valued at approximately $4,415,505.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Timothy S. Cabral sold 15,000 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $184.33, for a total value of $2,764,950.00. Following the sale, the chief financial officer now directly owns 8,391 shares in the company, valued at approximately $1,546,713.03. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Alan Mateo sold 3,391 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $200.86, for a total transaction of $681,116.26. Following the completion of the sale, the executive vice president now owns 21,983 shares in the company, valued at $4,415,505.38. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,989 shares of company stock worth $4,192,363. 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.