Veeva Systems Inc. (NYSE:VEEV) Shares Sold by General American Investors Co. Inc.

General American Investors Co. Inc. lessened its position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 40.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,457 shares of the technology company's stock after selling 20,000 shares during the quarter. General American Investors Co. Inc.'s holdings in Veeva Systems were worth $6,823,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Abound Financial LLC acquired a new position in Veeva Systems during the 1st quarter valued at approximately $25,000. ORG Partners LLC acquired a new position in Veeva Systems during the 1st quarter valued at approximately $26,000. Golden State Wealth Management LLC increased its stake in Veeva Systems by 152.9% during the 1st quarter. Golden State Wealth Management LLC now owns 129 shares of the technology company's stock valued at $30,000 after purchasing an additional 78 shares in the last quarter. Wayfinding Financial LLC acquired a new position in Veeva Systems during the 1st quarter valued at approximately $32,000. Finally, Key Financial Inc increased its stake in Veeva Systems by 161.0% during the 1st quarter. Key Financial Inc now owns 154 shares of the technology company's stock valued at $36,000 after purchasing an additional 95 shares in the last quarter. Institutional investors own 88.20% of the company's stock.

Veeva Systems Trading Up 2.0%

VEEV traded up $5.57 during midday trading on Friday, hitting $282.03. 1,752,655 shares of the company traded hands, compared to its average volume of 1,173,569. The company has a market capitalization of $46.09 billion, a price-to-earnings ratio of 59.75, a PEG ratio of 2.24 and a beta of 0.98. Veeva Systems Inc. has a 52-week low of $177.41 and a 52-week high of $291.69. The business has a 50 day simple moving average of $269.57 and a two-hundred day simple moving average of $241.18.

Veeva Systems (NYSE:VEEV - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The technology company reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 27.34% and a return on equity of 13.96%. The company's revenue was up 16.7% compared to the same quarter last year. During the same period last year, the firm posted $1.50 earnings per share. Equities research analysts anticipate that Veeva Systems Inc. will post 4.35 earnings per share for the current year.

Insiders Place Their Bets

In other Veeva Systems news, Director Priscilla Hung sold 172 shares of Veeva Systems stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $283.00, for a total transaction of $48,676.00. Following the transaction, the director directly owned 4,137 shares of the company's stock, valued at $1,170,771. The trade was a 3.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Timothy S. Cabral sold 315 shares of Veeva Systems 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 transaction, the director directly owned 5,500 shares in the company, valued at $1,593,460. This trade represents a 5.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,378 shares of company stock valued at $394,217 over the last ninety days. Company insiders own 10.30% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Veeva Systems from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. JPMorgan Chase & Co. increased their price objective on shares of Veeva Systems from $218.00 to $249.00 and gave the stock a "neutral" rating in a research note on Thursday, March 20th. Wells Fargo & Company 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 increased their price objective on shares of Veeva Systems from $272.00 to $295.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Finally, Needham & Company LLC increased their price objective on shares of Veeva Systems from $270.00 to $300.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Two investment 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $274.17.

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.