Revolve Wealth Partners LLC Purchases Shares of 933 Veeva Systems Inc. (NYSE:VEEV)

Revolve Wealth Partners LLC purchased a new stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 933 shares of the technology company's stock, valued at approximately $216,000.

A number of other institutional investors have also bought and sold shares of VEEV. Wedmont Private Capital boosted its position in shares of Veeva Systems by 4.1% during the 1st quarter. Wedmont Private Capital now owns 2,200 shares of the technology company's stock worth $480,000 after purchasing an additional 87 shares in the last quarter. Clean Yield Group boosted its position in shares of Veeva Systems by 32.8% during the 1st quarter. Clean Yield Group now owns 22,020 shares of the technology company's stock worth $5,100,000 after purchasing an additional 5,433 shares in the last quarter. Sivia Capital Partners LLC bought a new position in shares of Veeva Systems during the 1st quarter worth about $222,000. Gateway Investment Advisers LLC boosted its position in shares of Veeva Systems by 6.7% during the 1st quarter. Gateway Investment Advisers LLC now owns 39,362 shares of the technology company's stock worth $9,117,000 after purchasing an additional 2,472 shares in the last quarter. Finally, Blue Zone Wealth Advisors LLC boosted its position in shares of Veeva Systems by 9.7% during the 1st quarter. Blue Zone Wealth Advisors LLC now owns 17,219 shares of the technology company's stock worth $3,988,000 after purchasing an additional 1,525 shares in the last quarter. Institutional investors own 88.20% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on VEEV shares. Needham & Company LLC increased their price objective on shares of Veeva Systems from $270.00 to $300.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. Wells Fargo & Company upped their target price on shares of Veeva Systems from $285.00 to $300.00 and gave the stock an "overweight" rating in a report on Thursday, May 29th. Stephens restated an "overweight" rating and issued a $280.00 target price on shares of Veeva Systems in a report on Thursday, March 6th. Robert W. Baird upped their target price on shares of Veeva Systems from $283.00 to $285.00 and gave the stock an "outperform" rating in a report on Thursday, March 6th. Finally, Raymond James upped their target price on shares of Veeva Systems from $285.00 to $310.00 and gave the stock an "outperform" 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 sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $269.80.

Insider Transactions at Veeva Systems

In related news, SVP Jonathan Faddis sold 787 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $226.20, for a total value of $178,019.40. Following the completion of the transaction, the senior vice president now directly owns 8,668 shares of the company's stock, valued at approximately $1,960,701.60. This trade represents a 8.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Thomas D. Schwenger sold 1,200 shares of the firm's stock in a transaction that occurred 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 directly owns 25,889 shares of the company's stock, valued at approximately $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 a total of 5,869 shares of company stock worth $1,284,917 in the last quarter. Insiders own 10.30% of the company's stock.

Veeva Systems Stock Down 1.7%

Shares of VEEV stock opened at $285.08 on Monday. The company has a 50 day moving average of $235.57 and a 200-day moving average of $230.33. Veeva Systems Inc. has a 12-month low of $176.41 and a 12-month high of $291.68. The firm has a market cap of $46.38 billion, a P/E ratio of 70.39, a PEG ratio of 1.89 and a beta of 0.99.

Veeva Systems (NYSE:VEEV - Get Free Report) last issued 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. 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 during the quarter, compared to analyst estimates of $728.38 million. During the same quarter last year, the business posted $1.50 EPS. Veeva Systems's quarterly revenue was up 16.7% compared to the same quarter last year. As a group, equities analysts expect 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.

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