Korea Investment CORP increased its stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 0.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 188,170 shares of the technology company's stock after purchasing an additional 1,402 shares during the quarter. Korea Investment CORP owned 0.12% of Veeva Systems worth $43,586,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of VEEV. Leigh Baldwin & CO. LLC bought a new position in shares of Veeva Systems during the 4th quarter valued at approximately $685,355,000. Nuveen LLC bought a new position in shares of Veeva Systems during the 1st quarter valued at approximately $365,684,000. Stockbridge Partners LLC bought a new position in shares of Veeva Systems during the 4th quarter valued at approximately $137,260,000. GAMMA Investing LLC increased its position in shares of Veeva Systems by 26,258.4% during the 1st quarter. GAMMA Investing LLC now owns 422,261 shares of the technology company's stock valued at $97,808,000 after purchasing an additional 420,659 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Veeva Systems by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 14,760,566 shares of the technology company's stock valued at $3,418,990,000 after purchasing an additional 315,421 shares during the last quarter. Institutional investors own 88.20% of the company's stock.
Insider Transactions at Veeva Systems
In other news, SVP Jonathan Faddis sold 720 shares of the business's stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $285.62, for a total value of $205,646.40. Following the completion of the transaction, the senior vice president directly owned 7,902 shares of the company's stock, valued at approximately $2,256,969.24. The trade was a 8.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Timothy S. Cabral sold 315 shares of the business's stock in a transaction on 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 directly owned 5,500 shares of the company's stock, valued at approximately $1,593,460. The trade was a 5.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,378 shares of company stock valued at $394,217. Corporate insiders own 10.30% of the company's stock.
Analyst Ratings Changes
A number of equities analysts recently issued reports on VEEV shares. KeyCorp boosted their price objective on Veeva Systems from $285.00 to $325.00 and gave the company an "overweight" rating in a report on Monday, July 14th. Raymond James Financial boosted their price objective on Veeva Systems from $285.00 to $310.00 and gave the company an "outperform" rating in a report on Thursday, May 29th. Truist Financial boosted their price objective on Veeva Systems from $217.00 to $230.00 and gave the company a "hold" rating in a report on Thursday, May 29th. Citigroup boosted their price objective on Veeva Systems from $265.00 to $329.00 and gave the company a "buy" rating in a report on Friday, May 30th. Finally, 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. Fourteen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $274.17.
View Our Latest Stock Analysis on VEEV
Veeva Systems Price Performance
Shares of VEEV stock traded up $8.75 during mid-day trading on Friday, hitting $291.03. The stock had a trading volume of 961,444 shares, compared to its average volume of 1,080,466. Veeva Systems Inc. has a 12-month low of $196.10 and a 12-month high of $296.72. The firm has a market capitalization of $47.56 billion, a P/E ratio of 61.66, a price-to-earnings-growth ratio of 2.30 and a beta of 0.95. The firm's 50-day moving average is $282.35 and its two-hundred day moving average is $252.59.
Veeva Systems (NYSE:VEEV - Get Free Report) last issued its earnings results on Wednesday, May 28th. The technology company reported $1.97 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.23. Veeva Systems had a return on equity of 13.96% and a net margin of 27.34%.The business had revenue of $759.04 million during the quarter, compared to analysts' expectations of $728.38 million. During the same period in the prior year, the business earned $1.50 EPS. The business's revenue for the quarter was up 16.7% compared to the same quarter last year. Analysts expect that Veeva Systems Inc. will post 4.35 EPS for the current year.
About Veeva Systems
(
Free Report)
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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