AXS Investments LLC Invests $1.37 Million in Veeva Systems Inc. (NYSE:VEEV)

Key Points

• AXS Investments LLC invested approximately $1.37 million in Veeva Systems Inc., acquiring 5,895 shares in the first quarter.
• Analysts have raised their price targets for Veeva Systems, with UBS Group setting a new target of $285 and Barclays raising it to $300, reflecting a generally positive outlook.
• Veeva Systems reported earnings of $1.97 EPS for the last quarter, exceeding expectations and showing a 16.7% year-over-year revenue increase.

AXS Investments LLC bought a new position in Veeva Systems Inc. (NYSE:VEEV - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 5,895 shares of the technology company's stock, valued at approximately $1,365,000.

Other institutional investors have also recently made changes to their positions in the company. Abound Financial LLC bought a new position in Veeva Systems during the 1st quarter valued at approximately $25,000. ORG Partners LLC bought a new stake in shares of Veeva Systems in the 1st quarter worth $26,000. Golden State Wealth Management LLC increased its holdings in shares of Veeva Systems by 152.9% in 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 in the last quarter. Wayfinding Financial LLC bought a new stake in shares of Veeva Systems in the 1st quarter worth $32,000. Finally, Key Financial Inc increased its holdings in shares of Veeva Systems by 161.0% in 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 in the last quarter. Institutional investors own 88.20% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. UBS Group lifted their target price on Veeva Systems from $250.00 to $285.00 and gave the stock a "neutral" rating in a report on Thursday, May 29th. Barclays lifted their target price on Veeva Systems from $285.00 to $300.00 and gave the stock an "overweight" rating in a report on Thursday, May 29th. Mizuho lifted their target price on Veeva Systems from $280.00 to $295.00 and gave the stock an "outperform" rating in a report on Monday, June 2nd. KeyCorp lifted their price objective on Veeva Systems from $285.00 to $325.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. Finally, Morgan Stanley lifted their price objective on Veeva Systems from $201.00 to $210.00 and gave the stock an "underweight" rating in a report on Thursday, May 29th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $274.17.

Veeva Systems Price Performance

Shares of VEEV stock opened at $281.39 on Wednesday. The company has a market cap of $45.98 billion, a PE ratio of 59.62, a price-to-earnings-growth ratio of 2.26 and a beta of 0.95. The stock's 50 day simple moving average is $281.91 and its two-hundred day simple moving average is $247.91. Veeva Systems Inc. has a 1 year low of $182.21 and a 1 year high of $296.72.

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

Insider Buying and Selling

In other news, Director Priscilla Hung sold 172 shares of the stock in a transaction 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 in the company, valued at approximately $1,170,771. This represents a 3.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Jonathan Faddis sold 720 shares of the stock in a transaction on 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 approximately $2,256,969.24. This represents a 8.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,378 shares of company stock valued at $394,217 over the last quarter. 10.30% of the stock is owned by corporate insiders.

Veeva Systems Company 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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