Ninety One UK Ltd Has $25.50 Million Position in Veeva Systems Inc. (NYSE:VEEV)

Ninety One UK Ltd trimmed its stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 9.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 110,092 shares of the technology company's stock after selling 10,951 shares during the period. Ninety One UK Ltd owned 0.07% of Veeva Systems worth $25,501,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Abound Financial LLC acquired a new stake in Veeva Systems in the 1st quarter valued at approximately $25,000. Crossmark Global Holdings Inc. acquired a new stake in Veeva Systems in the 1st quarter valued at approximately $299,000. Raleigh Capital Management Inc. grew its holdings in Veeva Systems by 42,900.0% in the 1st quarter. Raleigh Capital Management Inc. now owns 430 shares of the technology company's stock valued at $100,000 after buying an additional 429 shares during the last quarter. TD Private Client Wealth LLC grew its holdings in Veeva Systems by 4.5% in the 1st quarter. TD Private Client Wealth LLC now owns 7,921 shares of the technology company's stock valued at $1,835,000 after buying an additional 339 shares during the last quarter. Finally, Financiere des Professionnels Fonds d investissement inc. grew its holdings in Veeva Systems by 1.5% in the 1st quarter. Financiere des Professionnels Fonds d investissement inc. now owns 10,670 shares of the technology company's stock valued at $2,471,000 after buying an additional 161 shares during the last quarter. 88.20% of the stock is owned by institutional investors.

Insider Activity at Veeva Systems

In other Veeva Systems news, Director Timothy S. Cabral sold 315 shares of the business's stock in a transaction that occurred 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 sale, the director owned 5,500 shares in the company, valued at approximately $1,593,460. The trade was a 5.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Priscilla Hung sold 172 shares of the business's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $283.00, for a total value of $48,676.00. Following the completion of the sale, the director owned 4,137 shares in the company, valued at $1,170,771. The trade was a 3.99% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,858 shares of company stock worth $453,734. 10.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

VEEV has been the topic of several recent research reports. Citigroup lifted their price objective on Veeva Systems from $265.00 to $329.00 and gave the stock a "buy" rating in a report on Friday, May 30th. Raymond James Financial lifted their price objective on Veeva Systems from $285.00 to $310.00 and gave the stock an "outperform" rating in a report on Thursday, May 29th. Needham & Company LLC lifted their price objective on Veeva Systems from $270.00 to $300.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. KeyCorp decreased their price objective on Veeva Systems from $260.00 to $250.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Finally, Wall Street Zen raised Veeva Systems from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $269.80.

Veeva Systems Price Performance

Shares of VEEV stock traded up $3.58 on Wednesday, reaching $284.21. 779,117 shares of the stock were exchanged, compared to its average volume of 1,164,314. The stock has a market cap of $46.44 billion, a PE ratio of 60.21, a P/E/G ratio of 2.22 and a beta of 0.98. Veeva Systems Inc. has a one year low of $177.41 and a one year high of $291.69. The stock has a 50 day moving average price of $263.31 and a 200 day moving average price of $238.25.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.74 by $0.23. The firm 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 company's revenue was up 16.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.50 earnings per share. On average, research analysts expect that Veeva Systems Inc. will post 4.35 earnings per share for the current fiscal 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.