Revolve Wealth Partners LLC Invests $216,000 in 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 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 933 shares of the technology company's stock, valued at approximately $216,000.

Other institutional investors also recently bought and sold shares of the company. Cardinal Capital Management boosted its holdings in Veeva Systems by 0.3% in the fourth quarter. Cardinal Capital Management now owns 15,727 shares of the technology company's stock worth $3,307,000 after purchasing an additional 44 shares during the last quarter. Johnson Financial Group Inc. lifted its holdings in shares of Veeva Systems by 22.7% during the 4th quarter. Johnson Financial Group Inc. now owns 238 shares of the technology company's stock valued at $56,000 after buying an additional 44 shares during the period. Colonial Trust Co SC boosted its stake in shares of Veeva Systems by 30.3% in the 4th quarter. Colonial Trust Co SC now owns 241 shares of the technology company's stock worth $51,000 after buying an additional 56 shares during the last quarter. Twin City Private Wealth LLC grew its holdings in shares of Veeva Systems by 2.9% in the fourth quarter. Twin City Private Wealth LLC now owns 2,036 shares of the technology company's stock worth $428,000 after acquiring an additional 58 shares during the period. Finally, CoreCap Advisors LLC grew its holdings in shares of Veeva Systems by 31.7% in the fourth quarter. CoreCap Advisors LLC now owns 249 shares of the technology company's stock worth $52,000 after acquiring an additional 60 shares during the period. 88.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on VEEV. Citigroup boosted their price objective on shares of Veeva Systems from $265.00 to $329.00 and gave the company a "buy" rating in a research report on Friday, May 30th. Scotiabank boosted their price target on Veeva Systems from $240.00 to $245.00 and gave the company a "sector perform" rating in a report on Thursday, March 6th. Wall Street Zen upgraded Veeva Systems from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. Stephens reaffirmed an "overweight" rating and set a $280.00 price target on shares of Veeva Systems in a report on Thursday, March 6th. Finally, KeyCorp dropped their price target on shares of Veeva Systems from $260.00 to $250.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $269.80.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 787 shares of Veeva Systems stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total value of $178,019.40. Following the transaction, the senior vice president now directly owns 8,668 shares of the company's stock, valued at $1,960,701.60. The trade was a 8.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas D. Schwenger sold 1,200 shares of Veeva Systems stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $220.97, for a total transaction of $265,164.00. Following 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 have sold a total of 6,184 shares of company stock worth $1,376,179 over the last ninety days. 10.30% of the stock is currently owned by company insiders.

Veeva Systems Stock Performance

Shares of NYSE VEEV traded down $6.70 during mid-day trading on Thursday, reaching $281.85. The company had a trading volume of 2,017,512 shares, compared to its average volume of 1,144,505. The business's 50-day simple moving average is $239.45 and its 200 day simple moving average is $231.56. The firm has a market cap of $45.86 billion, a price-to-earnings ratio of 69.59, a PEG ratio of 1.89 and a beta of 0.99. 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 announced its quarterly earnings results on Wednesday, May 28th. The technology company reported $1.97 earnings per share (EPS) for the quarter, beating 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 25.07% and a return on equity of 13.56%. The company's revenue was up 16.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.50 EPS. On average, sell-side analysts anticipate that Veeva Systems Inc. will post 4.35 EPS for the current 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.