China Universal Asset Management Co. Ltd. Sells 5,400 Shares of Veeva Systems Inc. (NYSE:VEEV)

China Universal Asset Management Co. Ltd. decreased its position in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 87.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 771 shares of the technology company's stock after selling 5,400 shares during the quarter. China Universal Asset Management Co. Ltd.'s holdings in Veeva Systems were worth $179,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Abound Financial LLC purchased a new stake in shares of Veeva Systems in the 1st quarter worth $25,000. ORG Partners LLC purchased a new stake in Veeva Systems in the first quarter worth about $26,000. Golden State Wealth Management LLC increased its position in Veeva Systems by 152.9% in the first 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 in the last quarter. Wayfinding Financial LLC bought a new position in shares of Veeva Systems in the first quarter worth about $32,000. Finally, Itau Unibanco Holding S.A. lifted its position in shares of Veeva Systems by 389.2% during the 4th quarter. Itau Unibanco Holding S.A. now owns 181 shares of the technology company's stock valued at $38,000 after buying an additional 144 shares in the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Veeva Systems Price Performance

Shares of NYSE VEEV traded down $5.82 during mid-day trading on Friday, hitting $275.82. 1,660,228 shares of the company's stock traded hands, compared to its average volume of 1,169,879. Veeva Systems Inc. has a 1 year low of $177.41 and a 1 year high of $291.69. The company's 50-day moving average is $266.10 and its two-hundred day moving average is $239.37. The company has a market capitalization of $45.07 billion, a P/E ratio of 58.44, a PEG ratio of 2.23 and a beta of 0.98.

Veeva Systems (NYSE:VEEV - Get Free Report) last issued its quarterly earnings data on Wednesday, May 28th. The technology company reported $1.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.74 by $0.23. The business had revenue of $759.04 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the business posted $1.50 earnings per share. Equities analysts anticipate that Veeva Systems Inc. will post 4.35 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Jonathan Faddis sold 720 shares of the company's stock in a transaction dated 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. This represents a 8.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Timothy S. Cabral sold 315 shares of the firm's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $289.72, for a total transaction of $91,261.80. Following the completion of the sale, the director directly owned 5,500 shares of the company's stock, valued at approximately $1,593,460. The trade was a 5.42% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,578 shares of company stock valued at $659,381 in the last three months. Corporate insiders own 10.30% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Wall Street Zen raised shares of Veeva Systems from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Barclays increased their price objective on shares of Veeva Systems from $285.00 to $300.00 and gave the stock an "overweight" rating in a research note on Thursday, May 29th. Stifel Nicolaus lifted their target price on shares of Veeva Systems from $272.00 to $295.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. KeyCorp dropped their target price on shares of Veeva Systems from $260.00 to $250.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Finally, UBS Group increased their price target on Veeva Systems from $250.00 to $285.00 and gave the stock a "neutral" rating in a research note on Thursday, May 29th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Veeva Systems presently has an average rating of "Moderate Buy" and an average target price of $271.04.

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.