Pinkerton Retirement Specialists LLC Buys Shares of 12,370 Veeva Systems Inc. (NYSE:VEEV)

Pinkerton Retirement Specialists LLC purchased a new position in Veeva Systems Inc. (NYSE:VEEV - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 12,370 shares of the technology company's stock, valued at approximately $2,865,000.

Several other institutional investors have also modified their holdings of VEEV. Abound Financial LLC acquired a new position in Veeva Systems in the first quarter valued at $25,000. ORG Partners LLC acquired a new position in Veeva Systems in the first quarter valued at $26,000. Golden State Wealth Management LLC boosted 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 acquiring an additional 78 shares in the last quarter. Wayfinding Financial LLC acquired a new position in Veeva Systems in the first quarter valued at $32,000. Finally, Key Financial Inc boosted its stake in Veeva Systems by 161.0% in the first quarter. Key Financial Inc now owns 154 shares of the technology company's stock valued at $36,000 after acquiring an additional 95 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company's stock.

Insider Buying and Selling

In other Veeva Systems news, SVP Jonathan Faddis sold 720 shares of the stock in a transaction dated Thursday, July 10th. The shares were 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. This trade represents a 8.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Priscilla Hung sold 172 shares of the stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $283.00, for a total transaction of $48,676.00. Following the completion of the transaction, the director directly owned 4,137 shares of the company's stock, valued at approximately $1,170,771. This trade represents a 3.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,378 shares of company stock valued at $394,217 over the last ninety days. Corporate insiders own 10.30% of the company's stock.

Veeva Systems Stock Up 1.1%

NYSE VEEV traded up $3.03 during trading hours on Wednesday, hitting $282.35. 655,300 shares of the stock were exchanged, compared to its average volume of 1,171,167. The company has a market cap of $46.14 billion, a price-to-earnings ratio of 59.82, a price-to-earnings-growth ratio of 2.21 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. The stock has a 50-day moving average of $268.83 and a 200 day moving average of $240.73.

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

Analysts Set New Price Targets

VEEV has been the subject of several research analyst reports. Mizuho upped their price objective on shares of Veeva Systems from $280.00 to $295.00 and gave the company an "outperform" rating in a research note on Monday, June 2nd. Raymond James Financial upped their price objective on shares of Veeva Systems from $285.00 to $310.00 and gave the company an "outperform" rating in a research note on Thursday, May 29th. Barclays increased their target price on shares of Veeva Systems from $285.00 to $300.00 and gave the stock an "overweight" rating in a research note on Thursday, May 29th. UBS Group increased their target price on shares of Veeva Systems from $250.00 to $285.00 and gave the stock a "neutral" rating in a research note on Thursday, May 29th. Finally, KeyCorp increased their target price on shares of Veeva Systems from $285.00 to $325.00 and gave the stock an "overweight" rating in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $274.17.

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.