IFM Investors Pty Ltd Buys 2,738 Shares of Veeva Systems Inc. (NYSE:VEEV)

IFM Investors Pty Ltd increased its holdings in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 10.2% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 29,486 shares of the technology company's stock after buying an additional 2,738 shares during the quarter. IFM Investors Pty Ltd's holdings in Veeva Systems were worth $6,830,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. ORG Partners LLC bought a new position in shares of Veeva Systems during the 1st quarter valued at approximately $26,000. Golden State Wealth Management LLC raised its holdings 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 buying an additional 78 shares during the period. Itau Unibanco Holding S.A. raised its holdings in 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 during the period. MassMutual Private Wealth & Trust FSB raised its holdings in Veeva Systems by 61.3% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 192 shares of the technology company's stock valued at $44,000 after buying an additional 73 shares during the period. Finally, VSM Wealth Advisory LLC purchased a new stake in Veeva Systems in the fourth quarter worth $42,000. 88.20% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Thomas D. Schwenger sold 1,200 shares of the business'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 in the company, valued at approximately $5,720,692.33. The trade was a 4.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Timothy S. Cabral sold 315 shares of the company's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $289.72, for a total value of $91,261.80. Following the completion of the sale, the director owned 5,500 shares in the company, valued at approximately $1,593,460. This represents a 5.42% decrease in their position. The disclosure for this sale can be found here. Insiders own 10.30% of the company's stock.

Analysts Set New Price Targets

VEEV has been the topic of a number of recent analyst reports. Piper Sandler increased their target price on Veeva Systems from $255.00 to $325.00 and gave the stock an "overweight" rating in a research note on Thursday, May 29th. Stifel Nicolaus increased their price target on Veeva Systems from $272.00 to $295.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. JPMorgan Chase & Co. increased their price target on Veeva Systems from $218.00 to $249.00 and gave the stock a "neutral" rating in a research report on Thursday, March 20th. Citigroup increased their price target on Veeva Systems from $265.00 to $329.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Finally, Wells Fargo & Company increased their price target on Veeva Systems from $285.00 to $300.00 and gave the stock an "overweight" rating in a research report on Thursday, May 29th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, Veeva Systems presently has an average rating of "Moderate Buy" and a consensus target price of $269.80.

Veeva Systems Price Performance

Shares of VEEV traded down $0.36 during mid-day trading on Monday, reaching $283.93. The company's stock had a trading volume of 156,135 shares, compared to its average volume of 1,157,433. The company's 50 day moving average is $261.22 and its 200 day moving average is $237.56. Veeva Systems Inc. has a 12-month low of $177.41 and a 12-month high of $291.69. The stock has a market cap of $46.40 billion, a PE ratio of 60.21, a price-to-earnings-growth ratio of 2.25 and a beta of 0.98.

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 for the quarter, beating 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 analysts' expectations of $728.38 million. During the same quarter in the previous year, the business posted $1.50 earnings per share. The business's revenue was up 16.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Veeva Systems Inc. will post 4.35 EPS for the current fiscal 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.