Martin Currie Ltd. Buys 1,570 Shares of Veeva Systems Inc. $VEEV

Key Points

• Martin Currie Ltd. increased its holdings in Veeva Systems by 0.6%, owning approximately 248,098 shares valued at around $57.47 million.
• Veeva Systems has received positive outlooks from analysts, with price targets ranging from $201 to $329, and an average price target of $274.17.
• Insider trading activity includes recent sales by directors, with insiders collectively selling 1,378 shares worth around $394,217 in the last quarter.

Martin Currie Ltd. raised its holdings in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 0.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 248,098 shares of the technology company's stock after acquiring an additional 1,570 shares during the period. Veeva Systems makes up 2.3% of Martin Currie Ltd.'s holdings, making the stock its 17th largest position. Martin Currie Ltd. owned 0.15% of Veeva Systems worth $57,467,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Abound Financial LLC acquired a new stake in shares of Veeva Systems in the 1st quarter valued at approximately $25,000. ORG Partners LLC bought a new stake in Veeva Systems during the 1st quarter worth 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 worth $30,000 after buying an additional 78 shares during the period. Wayfinding Financial LLC bought a new stake in Veeva Systems in the 1st quarter valued at $32,000. Finally, Key Financial Inc boosted its position in shares of Veeva Systems by 161.0% during the first quarter. Key Financial Inc now owns 154 shares of the technology company's stock worth $36,000 after buying an additional 95 shares during the period. 88.20% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Priscilla Hung sold 171 shares of the business's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $284.40, for a total value of $48,632.40. Following the completion of the transaction, the director directly owned 3,966 shares in the company, valued at approximately $1,127,930.40. The trade was a 4.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jonathan Faddis sold 720 shares of the company'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 sale, the senior vice president owned 7,902 shares of the company's stock, valued at approximately $2,256,969.24. This represents a 8.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,378 shares of company stock worth $394,217 over the last ninety days. Corporate insiders own 10.30% of the company's stock.

Veeva Systems Price Performance

Veeva Systems stock traded up $1.8690 during midday trading on Tuesday, hitting $283.9690. The company's stock had a trading volume of 1,011,395 shares, compared to its average volume of 1,301,367. The company has a market cap of $46.40 billion, a price-to-earnings ratio of 60.16, a PEG ratio of 2.22 and a beta of 0.95. Veeva Systems Inc. has a 1-year low of $192.73 and a 1-year high of $296.72. The company has a 50-day moving average price of $282.25 and a two-hundred day moving average price of $251.31.

Veeva Systems (NYSE:VEEV - Get Free Report) last released its quarterly earnings results 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. The company 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 firm's quarterly revenue was up 16.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.50 earnings per share. Sell-side analysts forecast that Veeva Systems Inc. will post 4.35 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Wall Street Zen raised Veeva Systems from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. Mizuho raised their price target on shares of Veeva Systems from $280.00 to $295.00 and gave the stock an "outperform" rating in a research note on Monday, June 2nd. Needham & Company LLC boosted their price objective on shares of Veeva Systems from $270.00 to $300.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. Piper Sandler raised their target price on shares of Veeva Systems from $255.00 to $325.00 and gave the company an "overweight" rating in a research report on Thursday, May 29th. Finally, UBS Group lifted their price target on shares of Veeva Systems from $250.00 to $285.00 and gave the company a "neutral" rating in a research note on Thursday, May 29th. Fourteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Veeva Systems currently has an average rating of "Moderate Buy" and a consensus target price of $274.17.

Veeva Systems Company 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.