Veeva Systems Inc. (NYSE:VEEV) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 6.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 722,689 shares of the technology company's stock after purchasing an additional 45,063 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.44% of Veeva Systems worth $167,396,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Abound Financial LLC bought a new position in Veeva Systems in the 1st quarter worth about $25,000. ORG Partners LLC purchased a new stake in shares of Veeva Systems in the first quarter valued at approximately $26,000. Golden State Wealth Management LLC lifted 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 buying an additional 78 shares during the period. Wayfinding Financial LLC purchased a new stake in shares of Veeva Systems in the 1st quarter worth $32,000. Finally, Key Financial Inc grew its position 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 buying an additional 95 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Mizuho lifted their price objective on Veeva Systems from $280.00 to $295.00 and gave the company an "outperform" rating in a report on Monday, June 2nd. Wall Street Zen raised shares of Veeva Systems from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. Morgan Stanley boosted their price target 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. UBS Group increased their price objective on shares of Veeva Systems from $250.00 to $285.00 and gave the company a "neutral" rating in a research note on Thursday, May 29th. Finally, Raymond James Financial lifted their price objective on shares of Veeva Systems from $285.00 to $310.00 and gave the company an "outperform" rating in a report on Thursday, May 29th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $274.17.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, Director Priscilla Hung sold 171 shares of the company's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $284.40, for a total transaction of $48,632.40. Following the completion of the transaction, the director directly owned 3,966 shares in the company, valued at approximately $1,127,930.40. This represents a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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 transaction of $205,646.40. Following the transaction, the senior vice president directly owned 7,902 shares in the company, valued at approximately $2,256,969.24. The trade was a 8.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,378 shares of company stock valued at $394,217. Company insiders own 10.30% of the company's stock.

Veeva Systems Price Performance

VEEV traded down $1.72 during trading on Tuesday, reaching $275.24. 1,267,645 shares of the company's stock were exchanged, compared to its average volume of 1,200,095. Veeva Systems Inc. has a 1 year low of $185.51 and a 1 year high of $296.72. The company's fifty day simple moving average is $282.71 and its 200-day simple moving average is $249.87. The stock has a market capitalization of $44.98 billion, a P/E ratio of 58.31, a price-to-earnings-growth ratio of 2.19 and a beta of 0.95.

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

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.