Stephens Investment Management Group LLC Buys 4,087 Shares of Veeva Systems Inc. (NYSE:VEEV)

Stephens Investment Management Group LLC increased its stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 6.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 70,351 shares of the technology company's stock after acquiring an additional 4,087 shares during the quarter. Stephens Investment Management Group LLC's holdings in Veeva Systems were worth $16,295,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of VEEV. Johnson Financial Group Inc. boosted its stake 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 buying an additional 44 shares in the last quarter. Colonial Trust Co SC boosted its stake 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 buying an additional 56 shares in the last quarter. Twin City Private Wealth LLC boosted its stake 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 buying an additional 58 shares in the last quarter. CoreCap Advisors LLC boosted its stake 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 buying an additional 60 shares in the last quarter. Finally, True Wealth Design LLC boosted its stake 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 buying an additional 64 shares in the last quarter. Institutional investors own 88.20% of the company's stock.

Veeva Systems Stock Down 2.1%

Veeva Systems stock opened at $275.82 on Monday. The stock has a 50-day simple moving average of $266.10 and a 200 day simple moving average of $239.69. Veeva Systems Inc. has a 12-month low of $177.41 and a 12-month high of $291.69. The stock has a market capitalization of $45.07 billion, a price-to-earnings 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 announced its quarterly earnings data on Wednesday, May 28th. The technology company reported $1.97 earnings per share for the quarter, topping 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 return on equity of 13.96% and a net margin of 27.34%. The company's quarterly revenue was up 16.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.50 EPS. As a group, sell-side analysts anticipate that Veeva Systems Inc. will post 4.35 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on VEEV shares. Truist Financial lifted their price target on shares of Veeva Systems from $217.00 to $230.00 and gave the stock a "hold" rating in a research note on Thursday, May 29th. JPMorgan Chase & Co. boosted their target price on shares of Veeva Systems from $218.00 to $249.00 and gave the company a "neutral" rating in a research note on Thursday, March 20th. Stifel Nicolaus boosted their target price 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. Piper Sandler boosted their target price on shares of Veeva Systems from $255.00 to $325.00 and gave the company an "overweight" rating in a research note on Thursday, May 29th. Finally, Morgan Stanley boosted 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. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $271.04.

Insiders Place Their Bets

In other Veeva Systems news, SVP Jonathan Faddis sold 720 shares of the business's stock in a transaction dated 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 sale, the senior vice president directly owned 7,902 shares of the company's stock, valued at approximately $2,256,969.24. The trade was a 8.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Priscilla Hung sold 171 shares of the business's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $284.40, for a total value of $48,632.40. Following the sale, the director directly owned 3,966 shares of the company's stock, valued at $1,127,930.40. This represents a 4.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,378 shares of company stock valued at $394,217. 10.30% of the stock is currently owned by insiders.

Veeva Systems 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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