Guardian Asset Advisors LLC Acquires New Holdings in Veeva Systems Inc. (NYSE:VEEV)

Guardian Asset Advisors LLC acquired a new stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 924 shares of the technology company's stock, valued at approximately $214,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Johnson Financial Group Inc. boosted its holdings in Veeva Systems by 22.7% in the fourth quarter. Johnson Financial Group Inc. now owns 238 shares of the technology company's stock worth $56,000 after acquiring an additional 44 shares in the last quarter. Colonial Trust Co SC boosted its stake in Veeva Systems by 30.3% in the 4th quarter. Colonial Trust Co SC now owns 241 shares of the technology company's stock worth $51,000 after purchasing an additional 56 shares in the last quarter. Twin City Private Wealth LLC lifted its stake in shares of Veeva Systems by 2.9% during the fourth quarter. Twin City Private Wealth LLC now owns 2,036 shares of the technology company's stock worth $428,000 after buying an additional 58 shares during the period. CoreCap Advisors LLC lifted its stake in shares of Veeva Systems by 31.7% during the fourth quarter. CoreCap Advisors LLC now owns 249 shares of the technology company's stock worth $52,000 after buying an additional 60 shares during the period. Finally, True Wealth Design LLC lifted its stake in shares of Veeva Systems by 46.0% during the fourth quarter. True Wealth Design LLC now owns 203 shares of the technology company's stock worth $43,000 after buying an additional 64 shares during the period. Institutional investors own 88.20% of the company's stock.

Analyst Ratings Changes

VEEV has been the subject of a number of research reports. UBS Group boosted their target price on shares of Veeva Systems from $250.00 to $285.00 and gave the company a "neutral" rating in a research report on Thursday, May 29th. Mizuho boosted 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. Morgan Stanley boosted their price objective on Veeva Systems from $201.00 to $210.00 and gave the company an "underweight" rating in a report on Thursday, May 29th. Truist Financial boosted their price target on Veeva Systems from $217.00 to $230.00 and gave the company a "hold" rating in a report on Thursday, May 29th. Finally, Piper Sandler boosted their price target on Veeva Systems from $255.00 to $325.00 and gave the company an "overweight" rating in a report on Thursday, May 29th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, Veeva Systems presently has a consensus rating of "Moderate Buy" and a consensus price target of $269.80.

Insiders Place Their Bets

In other news, Director Timothy S. Cabral sold 3,882 shares of Veeva Systems stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $216.83, for a total transaction of $841,734.06. Following the sale, the director now owns 5,500 shares of the company's stock, valued at approximately $1,192,565. The trade was a 41.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jonathan Faddis sold 787 shares of Veeva Systems stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $226.20, for a total value of $178,019.40. Following the completion of the sale, the senior vice president now owns 8,668 shares in the company, valued at $1,960,701.60. This represents a 8.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,184 shares of company stock valued at $1,376,179 over the last ninety days. Company insiders own 10.30% of the company's stock.

Veeva Systems Stock Performance

Shares of VEEV stock opened at $282.89 on Friday. The stock's fifty day moving average is $255.10 and its two-hundred day moving average is $235.54. The firm has a market capitalization of $46.23 billion, a P/E ratio of 59.93, a PEG ratio of 2.21 and a beta of 0.99. Veeva Systems Inc. has a fifty-two week low of $177.41 and a fifty-two week high of $291.69.

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

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