Rehmann Capital Advisory Group Acquires Shares of 1,130 Veeva Systems Inc. (NYSE:VEEV)

Rehmann Capital Advisory Group purchased a new position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,130 shares of the technology company's stock, valued at approximately $262,000.

A number of other large investors have also made changes to their positions in VEEV. Abound Financial LLC purchased a new stake in shares of Veeva Systems during the first quarter valued at $25,000. ORG Partners LLC purchased a new stake in shares of Veeva Systems during the first quarter valued at $26,000. Golden State Wealth Management LLC grew its holdings in shares of Veeva Systems by 152.9% during 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 last quarter. Wayfinding Financial LLC purchased a new stake in shares of Veeva Systems during the first quarter valued at $32,000. Finally, Itau Unibanco Holding S.A. grew its holdings in shares of Veeva Systems by 389.2% during 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 last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on VEEV shares. KeyCorp dropped their price objective on shares of Veeva Systems from $260.00 to $250.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. UBS Group boosted their price objective on shares of Veeva Systems from $250.00 to $285.00 and gave the company a "neutral" rating in a report on Thursday, May 29th. Wall Street Zen raised shares of Veeva Systems from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Piper Sandler upped their price target on shares of Veeva Systems from $255.00 to $325.00 and gave the company an "overweight" rating in a report on Thursday, May 29th. Finally, Morgan Stanley upped their price target on shares of Veeva Systems from $201.00 to $210.00 and gave the company an "underweight" rating in a report on Thursday, May 29th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $271.04.

Insider Activity at Veeva Systems

In related news, insider Thomas D. Schwenger sold 1,200 shares of the firm's stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $220.97, for a total value of $265,164.00. Following the transaction, the insider directly owned 25,889 shares of the company's stock, valued at approximately $5,720,692.33. This trade represents a 4.43% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Priscilla Hung sold 172 shares of the firm's 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 in the company, valued at $1,170,771. This represents a 3.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,578 shares of company stock valued at $659,381. 10.30% of the stock is owned by corporate insiders.

Veeva Systems Stock Down 2.1%

Shares of VEEV stock traded down $5.82 during mid-day trading on Friday, hitting $275.82. 1,660,228 shares of the stock were exchanged, compared to its average volume of 1,171,159. The firm has a fifty day moving average of $266.10 and a 200 day moving average of $239.52. Veeva Systems Inc. has a 52-week low of $177.41 and a 52-week high of $291.69. The company has a market cap of $45.07 billion, a PE ratio of 58.44, a price-to-earnings-growth ratio of 2.19 and a beta of 0.98.

Veeva Systems (NYSE:VEEV - Get Free Report) last posted its 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. Veeva Systems had a net margin of 27.34% and a return on equity of 13.96%. The business had revenue of $759.04 million for the quarter, compared to analyst estimates of $728.38 million. During the same period in the prior year, the company posted $1.50 EPS. The company's revenue for the quarter was up 16.7% on a year-over-year basis. Equities analysts predict that Veeva Systems Inc. will post 4.35 EPS for the current year.

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.