Investment Research & Advisory Group Inc. Acquires 1,730 Shares of Veeva Systems Inc. (NYSE:VEEV)

Investment Research & Advisory Group Inc. raised its holdings in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 14.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,105 shares of the technology company's stock after acquiring an additional 1,730 shares during the period. Veeva Systems comprises approximately 1.4% of Investment Research & Advisory Group Inc.'s portfolio, making the stock its 23rd biggest holding. Investment Research & Advisory Group Inc.'s holdings in Veeva Systems were worth $3,267,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Johnson Financial Group Inc. grew its position in Veeva Systems by 22.7% during the fourth quarter. Johnson Financial Group Inc. now owns 238 shares of the technology company's stock valued at $56,000 after acquiring an additional 44 shares during the last quarter. Colonial Trust Co SC boosted its stake in shares of Veeva Systems by 30.3% during the fourth quarter. Colonial Trust Co SC now owns 241 shares of the technology company's stock valued at $51,000 after purchasing an additional 56 shares during the period. Twin City Private Wealth LLC boosted 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 valued at $428,000 after purchasing an additional 58 shares during the period. CoreCap Advisors LLC boosted 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 valued at $52,000 after purchasing an additional 60 shares during the period. Finally, True Wealth Design LLC boosted 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 valued at $43,000 after purchasing an additional 64 shares during the period. 88.20% of the stock is currently owned by institutional investors.

Insider Transactions at Veeva Systems

In other news, 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 value of $91,261.80. Following the completion of the transaction, the director now owns 5,500 shares of the company's stock, valued at $1,593,460. The trade was a 5.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jonathan Faddis sold 787 shares of Veeva Systems stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total value of $178,019.40. Following the completion of the transaction, the senior vice president now directly owns 8,668 shares of the company's stock, valued at approximately $1,960,701.60. This represents a 8.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,184 shares of company stock valued at $1,376,179 in the last quarter. 10.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

VEEV has been the subject of a number of analyst reports. Scotiabank increased their price objective on Veeva Systems from $240.00 to $245.00 and gave the company a "sector perform" rating in a research note on Thursday, March 6th. JPMorgan Chase & Co. increased their price objective on Veeva Systems from $218.00 to $249.00 and gave the company a "neutral" rating in a research note on Thursday, March 20th. Needham & Company LLC increased their price objective on Veeva Systems from $270.00 to $300.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Truist Financial increased their price objective on Veeva Systems from $217.00 to $230.00 and gave the company a "hold" rating in a research note on Thursday, May 29th. Finally, Mizuho increased their price objective on Veeva Systems from $280.00 to $295.00 and gave the company an "outperform" rating in a research note on Monday, June 2nd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, Veeva Systems presently has an average rating of "Moderate Buy" and a consensus price target of $269.80.

Veeva Systems Trading Down 0.8%

Veeva Systems stock traded down $2.15 on Friday, hitting $279.28. 3,112,070 shares of the stock traded hands, compared to its average volume of 1,153,400. The firm has a market cap of $45.64 billion, a P/E ratio of 59.17, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. The business's fifty day simple moving average is $248.97 and its 200 day simple moving average is $234.19. Veeva Systems Inc. has a 1 year low of $177.41 and a 1 year high of $291.69.

Veeva Systems (NYSE:VEEV - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $759.04 million during the quarter, compared to analyst estimates of $728.38 million. Veeva Systems had a return on equity of 13.96% and a net margin of 27.34%. The company's revenue for the quarter was up 16.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.50 earnings per share. As a group, analysts predict that Veeva Systems Inc. will post 4.35 earnings per share for the current 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.