ASR Vermogensbeheer N.V. Invests $729,000 in Veeva Systems Inc. (NYSE:VEEV)

Key Points

• ASR Vermogensbeheer N.V. made a new investment in Veeva Systems Inc., purchasing 3,147 shares valued at approximately $729,000 in the first quarter.
• Veeva Systems reported a quarterly earnings result with an EPS of $1.97, which beat analysts' expectations, and demonstrated a year-over-year revenue increase of 16.7%.
• Recent analyst ratings for Veeva Systems indicate optimism, with several firms raising their price targets and assigning an average rating of "Moderate Buy".

ASR Vermogensbeheer N.V. acquired a new position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,147 shares of the technology company's stock, valued at approximately $729,000.

Several other institutional investors also recently modified their holdings of the company. Abound Financial LLC bought a new stake in Veeva Systems in the 1st quarter valued at about $25,000. ORG Partners LLC bought a new stake in Veeva Systems in the 1st quarter valued at about $26,000. Golden State Wealth Management LLC boosted its holdings in Veeva Systems by 152.9% in the 1st quarter. Golden State Wealth Management LLC now owns 129 shares of the technology company's stock valued at $30,000 after purchasing an additional 78 shares during the period. Wayfinding Financial LLC bought a new stake in Veeva Systems in the 1st quarter valued at about $32,000. Finally, Key Financial Inc boosted its holdings in Veeva Systems by 161.0% in the 1st quarter. Key Financial Inc now owns 154 shares of the technology company's stock valued at $36,000 after purchasing an additional 95 shares during the period. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

VEEV has been the subject of a number of recent research reports. KeyCorp boosted their price objective on shares of Veeva Systems from $285.00 to $325.00 and gave the company an "overweight" rating in a report on Monday, July 14th. Morgan Stanley boosted their price objective on shares of Veeva Systems from $201.00 to $210.00 and gave the company an "underweight" rating in a report on Thursday, May 29th. Citigroup boosted their price objective on shares of Veeva Systems from $265.00 to $329.00 and gave the company a "buy" rating in a report on Friday, May 30th. Mizuho boosted their target price on shares of Veeva Systems from $280.00 to $295.00 and gave the company an "outperform" rating in a research report on Monday, June 2nd. Finally, Barclays boosted their target price on shares of Veeva Systems from $285.00 to $300.00 and gave the company an "overweight" rating in a research report on Thursday, May 29th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $274.17.

Insider Activity

In other news, SVP Jonathan Faddis sold 720 shares of the firm's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $285.62, for a total transaction of $205,646.40. Following the completion of the transaction, the senior vice president owned 7,902 shares of the company's stock, valued at approximately $2,256,969.24. This trade represents a 8.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Priscilla Hung sold 172 shares of the firm's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $283.00, for a total transaction of $48,676.00. Following the transaction, the director directly owned 4,137 shares of the company's stock, valued at $1,170,771. The trade was a 3.99% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,378 shares of company stock valued at $394,217. Insiders own 10.30% of the company's stock.

Veeva Systems Trading Down 0.6%

NYSE:VEEV traded down $1.72 on Tuesday, hitting $275.24. The company had a trading volume of 1,267,645 shares, compared to its average volume of 1,200,095. The stock has a market capitalization of $44.98 billion, a price-to-earnings ratio of 58.31, a PEG ratio of 2.19 and a beta of 0.95. The firm has a 50 day moving average of $282.71 and a two-hundred day moving average of $249.87. Veeva Systems Inc. has a 52 week low of $185.51 and a 52 week high of $296.72.

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

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.