Triasima Portfolio Management inc. Makes New $672,000 Investment in Veeva Systems Inc. (NYSE:VEEV)

Triasima Portfolio Management inc. purchased a new stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 2,902 shares of the technology company's stock, valued at approximately $672,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Abound Financial LLC bought a new stake in shares of Veeva Systems during the first quarter valued at approximately $25,000. ORG Partners LLC bought a new stake in Veeva Systems in the first quarter worth $26,000. Golden State Wealth Management LLC boosted its holdings in Veeva Systems by 152.9% in the first quarter. Golden State Wealth Management LLC now owns 129 shares of the technology company's stock worth $30,000 after acquiring an additional 78 shares in the last quarter. Wayfinding Financial LLC bought a new stake in Veeva Systems in the first quarter worth $32,000. Finally, Key Financial Inc boosted its holdings in Veeva Systems by 161.0% in the first quarter. Key Financial Inc now owns 154 shares of the technology company's stock worth $36,000 after acquiring an additional 95 shares in the last quarter. Institutional investors own 88.20% of the company's stock.

Veeva Systems Stock Down 2.1%

Shares of VEEV stock traded down $5.89 on Thursday, hitting $276.58. The company had a trading volume of 1,112,463 shares, compared to its average volume of 1,170,933. The firm has a market cap of $45.20 billion, a P/E ratio of 58.60, a price-to-earnings-growth ratio of 2.21 and a beta of 0.98. The company has a 50-day moving average price of $268.83 and a 200-day moving average price of $240.73. Veeva Systems Inc. has a twelve month low of $177.41 and a twelve month high of $291.69.

Veeva Systems (NYSE:VEEV - Get Free Report) last issued its quarterly earnings data 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. Veeva Systems had a return on equity of 13.96% and a net margin of 27.34%. The business had revenue of $759.04 million during the quarter, compared to analysts' expectations of $728.38 million. During the same quarter in the previous year, the firm posted $1.50 EPS. The company's revenue for the quarter was up 16.7% on a year-over-year basis. Equities research analysts expect that Veeva Systems Inc. will post 4.35 EPS for the current year.

Insider Activity at Veeva Systems

In related news, SVP Jonathan Faddis sold 720 shares of Veeva Systems stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $285.62, for a total value of $205,646.40. Following the completion of the transaction, the senior vice president owned 7,902 shares in the company, valued at $2,256,969.24. The trade was a 8.35% 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, Director Timothy S. Cabral sold 315 shares of Veeva Systems stock in a transaction dated 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 owned 5,500 shares of the company's stock, valued at approximately $1,593,460. This represents a 5.42% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,378 shares of company stock worth $394,217 in the last 90 days. Corporate insiders own 10.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. UBS Group upped their price objective on Veeva Systems from $250.00 to $285.00 and gave the company a "neutral" rating in a research report on Thursday, May 29th. Citigroup upped their price target on Veeva Systems from $265.00 to $329.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. JPMorgan Chase & Co. upped their price target on Veeva Systems from $218.00 to $249.00 and gave the stock a "neutral" rating in a research report on Thursday, March 20th. Wall Street Zen upgraded Veeva Systems from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. Finally, Raymond James Financial increased their target price on Veeva Systems from $285.00 to $310.00 and gave the stock an "outperform" rating in a research report on Thursday, May 29th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, Veeva Systems has a consensus rating of "Moderate Buy" and an average price target of $274.17.

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.