Blue Zone Wealth Advisors LLC Boosts Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Blue Zone Wealth Advisors LLC increased its position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 9.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 17,219 shares of the technology company's stock after acquiring an additional 1,525 shares during the period. Blue Zone Wealth Advisors LLC's holdings in Veeva Systems were worth $3,988,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. T. Rowe Price Investment Management Inc. boosted its stake in shares of Veeva Systems by 3.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,169,698 shares of the technology company's stock valued at $1,086,930,000 after purchasing an additional 177,201 shares in the last quarter. Leigh Baldwin & CO. LLC bought a new position in Veeva Systems in the 4th quarter valued at approximately $685,355,000. FMR LLC boosted its position in Veeva Systems by 7.8% during the 4th quarter. FMR LLC now owns 3,213,360 shares of the technology company's stock worth $675,609,000 after buying an additional 232,116 shares during the period. JPMorgan Chase & Co. increased its position in Veeva Systems by 17.5% in the 4th quarter. JPMorgan Chase & Co. now owns 3,005,633 shares of the technology company's stock valued at $631,935,000 after acquiring an additional 447,041 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of Veeva Systems by 36.0% during the fourth quarter. Principal Financial Group Inc. now owns 2,964,025 shares of the technology company's stock worth $623,186,000 after purchasing an additional 784,741 shares during the period. Institutional investors and hedge funds own 88.20% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on VEEV shares. Piper Sandler raised their target price on Veeva Systems from $255.00 to $325.00 and gave the stock an "overweight" rating in a research report on Thursday, May 29th. JPMorgan Chase & Co. increased their price target on Veeva Systems from $218.00 to $249.00 and gave the company a "neutral" rating in a research note on Thursday, March 20th. Wells Fargo & Company lifted their price objective on Veeva Systems from $285.00 to $300.00 and gave the stock an "overweight" rating in a research note on Thursday, May 29th. UBS Group increased their price objective on shares of Veeva Systems from $250.00 to $285.00 and gave the stock a "neutral" rating in a research report on Thursday, May 29th. Finally, Needham & Company LLC boosted their target price on shares of Veeva Systems from $270.00 to $300.00 and gave the company a "buy" rating in a report on Thursday, May 29th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $269.80.

Veeva Systems Trading Up 0.2%

Shares of VEEV traded up $0.63 during trading hours on Tuesday, reaching $283.96. The stock had a trading volume of 1,069,473 shares, compared to its average volume of 1,138,933. The firm has a 50-day simple moving average of $237.95 and a 200 day simple moving average of $231.16. Veeva Systems Inc. has a 12 month low of $176.41 and a 12 month high of $291.68. The company has a market capitalization of $46.20 billion, a price-to-earnings ratio of 70.11, a P/E/G ratio of 1.89 and a beta of 0.99.

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. The company 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 25.07% and a return on equity of 13.56%. The firm's revenue for the quarter was up 16.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.50 earnings per share. On average, equities analysts forecast that Veeva Systems Inc. will post 4.35 EPS for the current year.

Insider Buying and Selling at Veeva Systems

In related news, Director Timothy S. Cabral sold 3,882 shares of the stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $216.83, for a total transaction of $841,734.06. Following the completion of the sale, the director now directly owns 5,500 shares of the company's stock, valued at approximately $1,192,565. This trade represents a 41.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Thomas D. Schwenger sold 1,200 shares of the company's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $220.97, for a total value of $265,164.00. Following the completion of the transaction, the insider now owns 25,889 shares of the company's stock, valued at $5,720,692.33. This trade represents a 4.43% decrease in their position. The disclosure for this sale can be found here. In 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.