Mercer Global Advisors Inc. ADV Purchases 317 Shares of Veeva Systems Inc. (NYSE:VEEV)

Mercer Global Advisors Inc. ADV boosted its position in shares of Veeva Systems Inc. (NYSE:VEEVGet Rating) by 5.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,431 shares of the technology company’s stock after purchasing an additional 317 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Veeva Systems were worth $1,643,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. FourThought Financial LLC raised its stake in shares of Veeva Systems by 37.4% during the 4th quarter. FourThought Financial LLC now owns 169 shares of the technology company’s stock worth $43,000 after purchasing an additional 46 shares in the last quarter. United Capital Financial Advisers LLC raised its stake in shares of Veeva Systems by 6.1% during the 3rd quarter. United Capital Financial Advisers LLC now owns 857 shares of the technology company’s stock worth $247,000 after purchasing an additional 49 shares in the last quarter. Conestoga Capital Advisors LLC raised its stake in shares of Veeva Systems by 1.8% during the 4th quarter. Conestoga Capital Advisors LLC now owns 2,785 shares of the technology company’s stock worth $712,000 after purchasing an additional 50 shares in the last quarter. Suncoast Equity Management raised its stake in shares of Veeva Systems by 5.2% during the 4th quarter. Suncoast Equity Management now owns 1,015 shares of the technology company’s stock worth $259,000 after purchasing an additional 50 shares in the last quarter. Finally, Jackson Wealth Management LLC raised its stake in shares of Veeva Systems by 0.3% during the 3rd quarter. Jackson Wealth Management LLC now owns 15,614 shares of the technology company’s stock worth $83,000 after purchasing an additional 51 shares in the last quarter. Hedge funds and other institutional investors own 90.93% of the company’s stock.

A number of brokerages have recently issued reports on VEEV. Raymond James dropped their price objective on Veeva Systems from $335.00 to $260.00 and set an “outperform” rating on the stock in a research note on Thursday, March 3rd. Stephens lowered Veeva Systems from an “overweight” rating to an “equal weight” rating and set a $275.00 price objective on the stock. in a report on Friday, January 7th. Royal Bank of Canada reduced their target price on Veeva Systems from $400.00 to $300.00 and set an “outperform” rating on the stock in a report on Thursday, March 3rd. Bank of America lowered Veeva Systems from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $300.00 to $220.00 in a report on Thursday, March 3rd. Finally, Needham & Company LLC reduced their target price on Veeva Systems from $327.00 to $270.00 and set a “buy” rating on the stock in a report on Thursday, March 3rd. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Veeva Systems has an average rating of “Buy” and a consensus price target of $285.58.

In related news, Director Ronald E. F. Codd sold 20,000 shares of the stock in a transaction on Wednesday, April 6th. The shares were sold at an average price of $207.14, for a total transaction of $4,142,800.00. Following the transaction, the director now directly owns 442 shares of the company’s stock, valued at $91,555.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Paul J. Sekhri sold 11,000 shares of the stock in a transaction on Thursday, March 31st. The stock was sold at an average price of $214.02, for a total transaction of $2,354,220.00. The disclosure for this sale can be found here. Corporate insiders own 13.18% of the company’s stock.

Veeva Systems stock opened at $183.97 on Friday. The stock’s 50 day moving average is $201.76 and its 200 day moving average is $247.02. Veeva Systems Inc. has a one year low of $166.48 and a one year high of $343.96. The firm has a market cap of $28.40 billion, a P/E ratio of 69.95, a P/E/G ratio of 3.84 and a beta of 0.78.

Veeva Systems (NYSE:VEEVGet Rating) last posted its quarterly earnings data on Wednesday, March 2nd. The technology company reported $0.60 EPS for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.01. Veeva Systems had a net margin of 23.09% and a return on equity of 15.61%. The company had revenue of $485.50 million for the quarter, compared to analyst estimates of $479.98 million. During the same period in the prior year, the firm posted $0.54 EPS. As a group, analysts predict that Veeva Systems Inc. will post 2.76 EPS for the current year.

About Veeva Systems (Get Rating)

Veeva Systems Inc provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, the Middle East, Africa, and Latin America. The company offers Veeva Commercial Cloud, a suite of software, data, and analytics solutions, which include Veeva customer relationship management (CRM) and Veeva Medical CRM, Veeva CLM, Veeva CRM Approved Email, Veeva CRM Engage, Veeva Align, Veeva CRM Events Management, Veeva Nitro, Veeva Andi, Veeva OpenData, Veeva Link, Veeva Network Customer Master, Veeva Crossix, Veeva Data Cloud, and MyVeeva for Doctors; and Veeva Vault, a cloud-based enterprise content and data management applications for managing commercial functions, including sales and marketing, and medical content and communications, as well as research and development functions, such as clinical, regulatory, quality, and safety.

Further Reading

Institutional Ownership by Quarter for Veeva Systems (NYSE:VEEV)

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