Simmons Bank Purchases 5,849 Shares of Veeva Systems Inc. (NYSE:VEEV)

Simmons Bank boosted its holdings in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 112.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,052 shares of the technology company's stock after buying an additional 5,849 shares during the period. Simmons Bank's holdings in Veeva Systems were worth $2,560,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in VEEV. ORG Partners LLC bought a new stake in Veeva Systems in the 1st quarter worth approximately $26,000. Golden State Wealth Management LLC lifted its position in Veeva Systems by 152.9% in the 1st quarter. Golden State Wealth Management LLC now owns 129 shares of the technology company's stock worth $30,000 after buying an additional 78 shares during the last quarter. Wayfinding Financial LLC bought a new stake in Veeva Systems in the 1st quarter worth approximately $32,000. Promus Capital LLC purchased a new position in shares of Veeva Systems in the fourth quarter worth about $36,000. Finally, Itau Unibanco Holding S.A. increased its holdings in shares of Veeva Systems by 389.2% in the fourth quarter. Itau Unibanco Holding S.A. now owns 181 shares of the technology company's stock worth $38,000 after buying an additional 144 shares during the period. Institutional investors own 88.20% of the company's stock.

Wall Street Analysts Forecast Growth

VEEV has been the topic of several analyst reports. Piper Sandler lifted their price objective on Veeva Systems from $255.00 to $325.00 and gave the stock an "overweight" rating in a report on Thursday, May 29th. UBS Group lifted their price objective on Veeva Systems from $250.00 to $285.00 and gave the stock a "neutral" rating in a report on Thursday, May 29th. JPMorgan Chase & Co. lifted their price objective on Veeva Systems from $218.00 to $249.00 and gave the stock a "neutral" rating in a report on Thursday, March 20th. KeyCorp cut their target price on Veeva Systems from $260.00 to $250.00 and set an "overweight" rating on the stock in a research note 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 equities research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, Veeva Systems currently has an average rating of "Moderate Buy" and a consensus target price of $269.80.

Veeva Systems Stock Down 0.2%

Shares of NYSE VEEV traded down $0.52 during trading on Tuesday, reaching $280.48. The company had a trading volume of 1,938,921 shares, compared to its average volume of 1,164,351. Veeva Systems Inc. has a 12-month low of $177.41 and a 12-month high of $291.69. The stock has a market cap of $45.83 billion, a PE ratio of 59.42, a P/E/G ratio of 2.25 and a beta of 0.98. The business's 50-day moving average is $262.33 and its 200 day moving average is $237.96.

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

Insider Activity at Veeva Systems

In related news, insider Thomas D. Schwenger sold 1,200 shares of the company'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 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 represents a 4.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Timothy S. Cabral sold 315 shares of the company's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $289.72, for a total value of $91,261.80. Following the completion of the transaction, the director directly owned 5,500 shares in the company, valued at $1,593,460. This trade represents a 5.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 10.30% of the company's stock.

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.