Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH reduced its position in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 23.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 422,101 shares of the technology company's stock after selling 126,392 shares during the quarter. Allianz Asset Management GmbH owned about 0.26% of Veeva Systems worth $97,771,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Abound Financial LLC purchased a new stake in shares of Veeva Systems during the first quarter valued at $25,000. ORG Partners LLC purchased a new stake in shares of Veeva Systems during the first quarter valued at $26,000. Golden State Wealth Management LLC grew its holdings in shares of Veeva Systems by 152.9% during the first quarter. Golden State Wealth Management LLC now owns 129 shares of the technology company's stock valued at $30,000 after buying an additional 78 shares during the last quarter. Wayfinding Financial LLC purchased a new stake in shares of Veeva Systems during the first quarter valued at $32,000. Finally, Key Financial Inc grew its holdings in shares of Veeva Systems by 161.0% during the first quarter. Key Financial Inc now owns 154 shares of the technology company's stock valued at $36,000 after buying an additional 95 shares during the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on VEEV shares. Wall Street Zen raised shares of Veeva Systems from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Stifel Nicolaus upped their price objective on shares of Veeva Systems from $272.00 to $295.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. Citigroup upped their price objective on shares of Veeva Systems from $265.00 to $329.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Barclays upped their price objective on shares of Veeva Systems from $285.00 to $300.00 and gave the stock an "overweight" rating in a research report on Thursday, May 29th. Finally, KeyCorp upped their price objective on shares of Veeva Systems from $285.00 to $325.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Veeva Systems presently has a consensus rating of "Moderate Buy" and an average price target of $274.17.

Insider Buying and Selling

In other news, SVP Jonathan Faddis sold 720 shares of Veeva Systems stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $285.62, for a total value of $205,646.40. Following the sale, the senior vice president owned 7,902 shares of the company's stock, valued at $2,256,969.24. The trade was a 8.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Timothy S. Cabral sold 315 shares of Veeva Systems stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $289.72, for a total transaction of $91,261.80. Following the completion of the sale, the director directly owned 5,500 shares in the company, valued at approximately $1,593,460. The trade was a 5.42% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,378 shares of company stock worth $394,217 in the last ninety days. 10.30% of the stock is owned by corporate insiders.

Veeva Systems Stock Up 0.2%

VEEV stock traded up $0.71 during midday trading on Wednesday, hitting $285.91. The company's stock had a trading volume of 1,398,141 shares, compared to its average volume of 1,180,028. Veeva Systems Inc. has a 52-week low of $177.41 and a 52-week high of $291.69. The firm has a market capitalization of $46.72 billion, a P/E ratio of 60.57, a PEG ratio of 2.23 and a beta of 0.98. The firm has a 50-day simple moving average of $270.48 and a 200-day simple moving average of $242.11.

Veeva Systems (NYSE:VEEV - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The technology company reported $1.97 earnings per share for the quarter, beating analysts' consensus estimates of $1.74 by $0.23. Veeva Systems had a net margin of 27.34% and a return on equity of 13.96%. The business had revenue of $759.04 million for the quarter, compared to analyst estimates of $728.38 million. During the same period last year, the business earned $1.50 EPS. The company's revenue was up 16.7% on a year-over-year basis. On average, sell-side analysts expect that Veeva Systems Inc. will post 4.35 earnings per share for the current fiscal year.

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.