NBC Securities Inc. Acquires 1,708 Shares of Veeva Systems Inc. (NYSE:VEEV)

NBC Securities Inc. boosted its holdings in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 170,800.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,709 shares of the technology company's stock after purchasing an additional 1,708 shares during the period. NBC Securities Inc.'s holdings in Veeva Systems were worth $395,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Centricity Wealth Management LLC acquired a new stake in shares of Veeva Systems during the 4th quarter valued at $25,000. Smithfield Trust Co raised its position in Veeva Systems by 145.5% during the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company's stock worth $27,000 after purchasing an additional 80 shares during the last quarter. Avion Wealth raised its position in Veeva Systems by 635.0% during the 4th quarter. Avion Wealth now owns 147 shares of the technology company's stock worth $30,000 after purchasing an additional 127 shares during the last quarter. Venturi Wealth Management LLC raised its position in Veeva Systems by 2,716.7% during the 4th quarter. Venturi Wealth Management LLC now owns 169 shares of the technology company's stock worth $36,000 after purchasing an additional 163 shares during the last quarter. Finally, Promus Capital LLC bought a new position in Veeva Systems during the 4th quarter worth $36,000. 88.20% of the stock is currently owned by institutional investors.

Veeva Systems Trading Down 1.7%

Shares of NYSE:VEEV traded down $4.86 during mid-day trading on Friday, reaching $285.08. The company had a trading volume of 2,087,466 shares, compared to its average volume of 1,136,285. The firm has a market cap of $46.38 billion, a price-to-earnings ratio of 70.39, a PEG ratio of 1.89 and a beta of 0.99. The company's 50-day moving average price is $235.57 and its 200-day moving average price is $230.21. Veeva Systems Inc. has a one year low of $176.41 and a one year high of $291.68.

Veeva Systems (NYSE:VEEV - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The technology company reported $1.97 EPS for the quarter, topping analysts' consensus estimates of $1.74 by $0.23. Veeva Systems had a net margin of 25.07% and a return on equity of 13.56%. The company 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 firm posted $1.50 EPS. Veeva Systems's revenue was up 16.7% on a year-over-year basis. On average, research analysts anticipate that Veeva Systems Inc. will post 4.35 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on VEEV. Barclays raised their target price on Veeva Systems from $285.00 to $300.00 and gave the stock an "overweight" rating in a research report on Thursday, May 29th. Robert W. Baird increased their price target on Veeva Systems from $283.00 to $285.00 and gave the stock an "outperform" rating in a report on Thursday, March 6th. Mizuho increased 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. Needham & Company LLC increased their price target on Veeva Systems from $270.00 to $300.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. 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 report on Thursday, May 29th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $269.80.

Insider Activity

In related news, Director Timothy S. Cabral sold 3,882 shares of the company's stock in a transaction on Friday, April 4th. The shares were sold at an average price of $216.83, for a total value of $841,734.06. Following the completion of the transaction, the director now directly owns 5,500 shares in the company, valued at approximately $1,192,565. The trade was a 41.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas D. Schwenger sold 1,200 shares of the company's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $220.97, for a total transaction of $265,164.00. Following the completion of the transaction, the insider now owns 25,889 shares of the company's stock, valued at $5,720,692.33. This trade represents a 4.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,869 shares of company stock worth $1,284,917 in the last three months. Corporate insiders own 10.30% of the company's stock.

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.