Asset Management One Co. Ltd. Has $13.84 Million Holdings in Veeva Systems Inc. (NYSE:VEEV)

Asset Management One Co. Ltd. lifted its stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 6.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 59,751 shares of the technology company's stock after acquiring an additional 3,536 shares during the period. Asset Management One Co. Ltd.'s holdings in Veeva Systems were worth $13,840,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. ORG Partners LLC bought a new stake in Veeva Systems in the 1st quarter valued at $26,000. Smithfield Trust Co lifted its stake in shares of Veeva Systems by 145.5% in the fourth quarter. Smithfield Trust Co now owns 135 shares of the technology company's stock valued at $27,000 after buying an additional 80 shares during the period. Promus Capital LLC bought a new stake in shares of Veeva Systems in the fourth quarter valued at about $36,000. Itau Unibanco Holding S.A. grew its position in Veeva Systems by 389.2% during the fourth quarter. Itau Unibanco Holding S.A. now owns 181 shares of the technology company's stock worth $38,000 after buying an additional 144 shares in the last quarter. Finally, OFI Invest Asset Management acquired a new stake in Veeva Systems during the fourth quarter worth about $41,000. Institutional investors own 88.20% of the company's stock.

Veeva Systems Stock Performance

Shares of VEEV opened at $281.40 on Friday. The company has a market cap of $45.98 billion, a price-to-earnings ratio of 59.62, a PEG ratio of 2.18 and a beta of 0.99. The stock has a fifty day moving average price of $253.76 and a two-hundred day moving average price of $235.27. Veeva Systems Inc. has a 52-week low of $177.41 and a 52-week high of $291.69.

Veeva Systems (NYSE:VEEV - Get Free Report) last announced its earnings results 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. The company had revenue of $759.04 million during the quarter, compared to analyst estimates of $728.38 million. Veeva Systems had a return on equity of 13.96% and a net margin of 27.34%. The firm's quarterly revenue was up 16.7% compared to the same quarter last year. During the same period last year, the company posted $1.50 earnings per share. As a group, research analysts predict that Veeva Systems Inc. will post 4.35 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on VEEV. Stifel Nicolaus upped their price target on Veeva Systems from $272.00 to $295.00 and gave the company a "buy" rating in a report on Thursday, May 29th. Wall Street Zen upgraded Veeva Systems from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. JPMorgan Chase & Co. raised their target price on Veeva Systems from $218.00 to $249.00 and gave the stock a "neutral" rating in a research report on Thursday, March 20th. Stephens reiterated an "overweight" rating and set a $280.00 price target on shares of Veeva Systems in a research note on Thursday, March 6th. Finally, Needham & Company LLC increased their price objective on shares of Veeva Systems from $270.00 to $300.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $269.80.

Insider Transactions at Veeva Systems

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,200 shares of the business's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $220.97, for a total transaction of $265,164.00. Following the completion of the sale, the insider now directly owns 25,889 shares of the company's stock, valued at approximately $5,720,692.33. The trade was a 4.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Timothy S. Cabral sold 3,882 shares of the company's stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $216.83, for a total transaction of $841,734.06. Following the transaction, the director now owns 5,500 shares in the company, valued at approximately $1,192,565. The trade was a 41.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,184 shares of company stock worth $1,376,179. Corporate insiders own 10.30% 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.

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