1,670 Shares in Veeva Systems Inc. (NYSE:VEEV) Acquired by Asahi Life Asset Management CO. LTD.

Asahi Life Asset Management CO. LTD. acquired a new position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,670 shares of the technology company's stock, valued at approximately $387,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Abound Financial LLC purchased a new position in Veeva Systems during the 1st quarter worth $25,000. ORG Partners LLC purchased a new position in Veeva Systems during the 1st quarter valued at about $26,000. Golden State Wealth Management LLC raised its position in shares of Veeva Systems by 152.9% during the 1st quarter. Golden State Wealth Management LLC now owns 129 shares of the technology company's stock worth $30,000 after purchasing an additional 78 shares during the last quarter. Wayfinding Financial LLC purchased a new position in Veeva Systems in the 1st quarter valued at about $32,000. Finally, Key Financial Inc lifted its stake in shares of Veeva Systems by 161.0% during the 1st quarter. Key Financial Inc now owns 154 shares of the technology company's stock worth $36,000 after purchasing an additional 95 shares during the period. Institutional investors and hedge funds own 88.20% of the company's stock.

Insider Activity at Veeva Systems

In other Veeva Systems news, Director Priscilla Hung sold 172 shares of the company's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $283.00, for a total transaction of $48,676.00. Following the completion of the sale, the director owned 4,137 shares of the company's stock, valued at $1,170,771. This represents a 3.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Timothy S. Cabral sold 315 shares of the business's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $289.72, for a total transaction of $91,261.80. Following the completion of the sale, the director owned 5,500 shares of the company's stock, valued at $1,593,460. The trade was a 5.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,378 shares of company stock valued at $394,217. Corporate insiders own 10.30% of the company's stock.

Veeva Systems Stock Performance

Shares of VEEV stock traded up $3.03 during trading on Wednesday, hitting $282.35. 648,585 shares of the company were exchanged, compared to its average volume of 1,169,546. The firm has a market capitalization of $46.14 billion, a price-to-earnings ratio of 59.82, a P/E/G ratio of 2.24 and a beta of 0.98. Veeva Systems Inc. has a twelve month low of $177.41 and a twelve month high of $291.69. The business's 50-day simple moving average is $267.94 and its 200 day simple moving average is $240.44.

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

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Needham & Company LLC boosted their price target on Veeva Systems from $270.00 to $300.00 and gave the company a "buy" rating in a research report on Thursday, May 29th. Raymond James Financial raised their price target on shares of Veeva Systems from $285.00 to $310.00 and gave the stock an "outperform" rating in a research report on Thursday, May 29th. Citigroup upped their price objective on Veeva Systems from $265.00 to $329.00 and gave the company a "buy" rating in a research note on Friday, May 30th. JPMorgan Chase & Co. raised their price target on shares of Veeva Systems from $218.00 to $249.00 and gave the stock a "neutral" rating in a research report on Thursday, March 20th. Finally, Truist Financial upped their price objective on Veeva Systems from $217.00 to $230.00 and gave the stock a "hold" rating in a research note on Thursday, May 29th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $274.17.

About Veeva Systems

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.