Guardian Asset Advisors LLC Purchases Shares of 924 Veeva Systems Inc. (NYSE:VEEV)

Guardian Asset Advisors LLC bought a new stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund bought 924 shares of the technology company's stock, valued at approximately $214,000.

Several other large investors have also recently made changes to their positions in the company. Amalgamated Bank increased its holdings in Veeva Systems by 5.1% in the 4th quarter. Amalgamated Bank now owns 10,429 shares of the technology company's stock worth $2,193,000 after acquiring an additional 505 shares in the last quarter. Los Angeles Capital Management LLC lifted its stake in Veeva Systems by 60.7% in the 4th quarter. Los Angeles Capital Management LLC now owns 6,552 shares of the technology company's stock valued at $1,378,000 after buying an additional 2,474 shares in the last quarter. Oppenheimer & Co. Inc. boosted its holdings in Veeva Systems by 323.7% in the 4th quarter. Oppenheimer & Co. Inc. now owns 17,674 shares of the technology company's stock worth $3,716,000 after buying an additional 13,503 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Veeva Systems during the fourth quarter valued at approximately $22,545,000. Finally, QRG Capital Management Inc. lifted its position in shares of Veeva Systems by 4.2% in the fourth quarter. QRG Capital Management Inc. now owns 10,402 shares of the technology company's stock valued at $2,187,000 after acquiring an additional 415 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Thomas D. Schwenger sold 1,200 shares of the firm's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $220.97, for a total transaction of $265,164.00. Following the sale, the insider owned 25,889 shares of the company's stock, valued at $5,720,692.33. This trade represents a 4.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Timothy S. Cabral sold 3,882 shares of the firm's 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 sale, the director owned 5,500 shares in the company, valued at $1,192,565. This trade represents a 41.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,397 shares of company stock worth $1,198,160. Corporate insiders own 10.30% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Stephens reissued an "overweight" rating and set a $280.00 price target on shares of Veeva Systems in a research report on Thursday, March 6th. Wall Street Zen upgraded Veeva Systems from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Mizuho raised their price objective on shares of Veeva Systems from $280.00 to $295.00 and gave the company an "outperform" rating in a research note on Monday, June 2nd. Barclays lifted their target price on Veeva Systems from $285.00 to $300.00 and gave the company an "overweight" rating in a report on Thursday, May 29th. Finally, Morgan Stanley upped their price objective on shares of Veeva Systems from $201.00 to $210.00 and gave the company an "underweight" 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 sixteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $269.80.

Veeva Systems Trading Down 0.2%

Shares of NYSE:VEEV traded down $0.69 during mid-day trading on Wednesday, reaching $282.21. The stock had a trading volume of 1,256,128 shares, compared to its average volume of 1,157,129. The firm has a 50 day simple moving average of $258.00 and a two-hundred day simple moving average of $236.30. Veeva Systems Inc. has a twelve month low of $177.41 and a twelve month high of $291.69. The firm has a market cap of $46.12 billion, a PE ratio of 59.79, a price-to-earnings-growth ratio of 2.28 and a beta of 0.98.

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, beating the consensus estimate of $1.74 by $0.23. The firm 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 27.34% and a return on equity of 13.96%. The business's quarterly revenue was up 16.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.50 earnings per share. On average, equities analysts anticipate that Veeva Systems Inc. will post 4.35 EPS for the current fiscal year.

About Veeva Systems

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.