Slow Capital Inc. Has $5.57 Million Position in Veeva Systems Inc. (NYSE:VEEV)

Slow Capital Inc. raised its holdings in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 97.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,047 shares of the technology company's stock after acquiring an additional 11,848 shares during the quarter. Slow Capital Inc.'s holdings in Veeva Systems were worth $5,570,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in VEEV. Sowell Financial Services LLC bought a new stake in Veeva Systems in the first quarter worth approximately $274,000. GAMMA Investing LLC grew its position in Veeva Systems by 13.8% in the first quarter. GAMMA Investing LLC now owns 1,823 shares of the technology company's stock worth $422,000 after acquiring an additional 221 shares in the last quarter. Private Trust Co. NA grew its position in Veeva Systems by 35.0% in the first quarter. Private Trust Co. NA now owns 247 shares of the technology company's stock worth $57,000 after acquiring an additional 64 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in Veeva Systems in the first quarter worth approximately $5,876,000. Finally, Amalgamated Bank grew its position in Veeva Systems by 5.0% in the first quarter. Amalgamated Bank now owns 10,949 shares of the technology company's stock worth $2,536,000 after acquiring an additional 520 shares in the last quarter. 88.20% of the stock is owned by institutional investors.

Veeva Systems Trading Down 2.1%

NYSE:VEEV opened at $275.82 on Monday. The firm has a fifty day simple moving average of $266.10 and a 200 day simple moving average of $239.69. Veeva Systems Inc. has a 1-year low of $177.41 and a 1-year high of $291.69. The stock has a market capitalization of $45.07 billion, a PE ratio of 58.44, a P/E/G ratio of 2.19 and a beta of 0.98.

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

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Mizuho boosted their target price on shares of Veeva Systems from $280.00 to $295.00 and gave the stock an "outperform" rating in a research report on Monday, June 2nd. Morgan Stanley upped their target price 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. Barclays upped their target price on shares of Veeva Systems from $285.00 to $300.00 and gave the company an "overweight" rating in a research note on Thursday, May 29th. Raymond James Financial upped their target price on shares of Veeva Systems from $285.00 to $310.00 and gave the company an "outperform" rating in a research note on Thursday, May 29th. Finally, Citigroup upped their target price on shares of Veeva Systems from $265.00 to $329.00 and gave the company 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 fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $271.04.

Insider Transactions at Veeva Systems

In related news, Director Priscilla Hung sold 171 shares of the company's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $284.40, for a total value of $48,632.40. Following the transaction, the director directly owned 3,966 shares in the company, valued at approximately $1,127,930.40. This represents a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jonathan Faddis sold 720 shares of the company's stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $285.62, for a total transaction of $205,646.40. Following the completion of the transaction, the senior vice president owned 7,902 shares in the company, valued at approximately $2,256,969.24. This trade represents a 8.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,378 shares of company stock valued at $394,217 in the last quarter. 10.30% of the stock is currently owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.