Moloney Securities Asset Management LLC Purchases 8,260 Shares of Veeva Systems Inc. (NYSE:VEEV)

Moloney Securities Asset Management LLC raised its holdings in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 705.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,431 shares of the technology company's stock after acquiring an additional 8,260 shares during the period. Moloney Securities Asset Management LLC's holdings in Veeva Systems were worth $2,185,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Abound Financial LLC acquired a new position in shares of Veeva Systems in the first quarter worth approximately $25,000. ORG Partners LLC acquired a new position in Veeva Systems in the first quarter valued at approximately $26,000. Golden State Wealth Management LLC lifted its stake in Veeva Systems by 152.9% in the first 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. Wayfinding Financial LLC acquired a new position in Veeva Systems in the first quarter valued at approximately $32,000. Finally, Itau Unibanco Holding S.A. lifted its stake in Veeva Systems by 389.2% in the fourth 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. Institutional investors own 88.20% of the company's stock.

Veeva Systems Stock Down 2.1%

VEEV traded down $5.82 during trading on Friday, reaching $275.82. 1,660,228 shares of the company were exchanged, compared to its average volume of 1,168,859. The company's 50-day moving average is $265.32 and its two-hundred day moving average is $238.97. The company has a market cap of $45.07 billion, a price-to-earnings ratio of 58.44, a P/E/G ratio of 2.25 and a beta of 0.98. Veeva Systems Inc. has a 12-month low of $177.41 and a 12-month high of $291.69.

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

Analyst Ratings Changes

Several research firms have recently commented on VEEV. Wall Street Zen upgraded Veeva Systems from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Piper Sandler boosted their price objective on Veeva Systems from $255.00 to $325.00 and gave the company an "overweight" rating in a report on Thursday, May 29th. 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. 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. Finally, Mizuho upped their price target on Veeva Systems from $280.00 to $295.00 and gave the stock an "outperform" rating in a report on Monday, June 2nd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $271.04.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,200 shares of the firm's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $220.97, for a total value of $265,164.00. Following the sale, the insider owned 25,889 shares of the company's stock, valued at $5,720,692.33. This trade represents a 4.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Priscilla Hung sold 171 shares of the firm's stock in a transaction dated 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 sale, 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 disclosure for this sale can be found here. Insiders have sold a total of 1,858 shares of company stock valued at $453,734 in the last 90 days. Corporate insiders own 10.30% of the company's stock.

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.