Veeva Systems Inc. (NYSE:VEEV) Shares Acquired by Simmons Bank

Simmons Bank raised its position in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 112.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,052 shares of the technology company's stock after acquiring 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 filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Johnson Financial Group Inc. boosted its position in Veeva Systems by 22.7% during the fourth quarter. Johnson Financial Group Inc. now owns 238 shares of the technology company's stock worth $56,000 after acquiring an additional 44 shares during the last quarter. Colonial Trust Co SC boosted its position in Veeva Systems by 30.3% during the fourth quarter. Colonial Trust Co SC now owns 241 shares of the technology company's stock worth $51,000 after acquiring an additional 56 shares during the last quarter. Twin City Private Wealth LLC boosted its position in Veeva Systems by 2.9% during 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 last quarter. CoreCap Advisors LLC boosted its position in Veeva Systems by 31.7% during 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 last quarter. Finally, True Wealth Design LLC boosted its position in Veeva Systems by 46.0% during the fourth quarter. True Wealth Design LLC now owns 203 shares of the technology company's stock worth $43,000 after acquiring an additional 64 shares during the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Thomas D. Schwenger sold 1,200 shares of the firm's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $220.97, for a total value of $265,164.00. Following the sale, the insider directly owned 25,889 shares in the company, valued at approximately $5,720,692.33. This trade represents a 4.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Timothy S. Cabral sold 315 shares of the firm's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $289.72, for a total transaction of $91,261.80. Following the completion of the sale, the director owned 5,500 shares in the company, valued at $1,593,460. The trade was a 5.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

VEEV has been the topic of a number of recent research reports. Wall Street Zen upgraded shares of Veeva Systems from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. Stifel Nicolaus increased their price target on shares of Veeva Systems from $272.00 to $295.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Mizuho increased their price target 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. Morgan Stanley increased their price target on shares of Veeva Systems from $201.00 to $210.00 and gave the company an "underweight" rating in a research note on Thursday, May 29th. Finally, Truist Financial increased their price target on shares of Veeva Systems from $217.00 to $230.00 and gave the company a "hold" rating in a research note on Thursday, May 29th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, Veeva Systems has an average rating of "Moderate Buy" and a consensus target price of $269.80.

Veeva Systems Stock Down 1.9%

Veeva Systems stock traded down $5.39 during mid-day trading on Friday, reaching $277.23. 764,120 shares of the company's stock were exchanged, compared to its average volume of 1,161,246. The company has a market cap of $45.30 billion, a P/E ratio of 58.73, a P/E/G ratio of 2.25 and a beta of 0.98. Veeva Systems Inc. has a twelve month low of $177.41 and a twelve month high of $291.69. The company has a fifty day moving average of $261.22 and a 200-day moving average of $237.56.

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