Larson Financial Group LLC Acquires 1,248 Shares of Veeva Systems Inc. (NYSE:VEEV)

Larson Financial Group LLC boosted its stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 71.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,984 shares of the technology company's stock after buying an additional 1,248 shares during the quarter. Larson Financial Group LLC's holdings in Veeva Systems were worth $691,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in VEEV. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Veeva Systems during the fourth quarter worth approximately $292,000. Generali Asset Management SPA SGR acquired a new position in Veeva Systems in the 4th quarter valued at $3,392,000. Xponance Inc. increased its stake in Veeva Systems by 8.3% in the 4th quarter. Xponance Inc. now owns 28,754 shares of the technology company's stock valued at $6,046,000 after buying an additional 2,209 shares during the period. VSM Wealth Advisory LLC acquired a new position in Veeva Systems in the 4th quarter valued at $42,000. Finally, Bestgate Wealth Advisors LLC acquired a new position in Veeva Systems in the 4th quarter valued at $238,000. Hedge funds and other institutional investors own 88.20% of the company's stock.

Insider Buying and Selling

In related news, Director Priscilla Hung sold 172 shares of Veeva Systems stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $283.00, for a total value of $48,676.00. Following the transaction, the director owned 4,137 shares of the company's stock, valued at approximately $1,170,771. This trade represents a 3.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 directly owned 7,902 shares in the company, valued at $2,256,969.24. This represents a 8.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,378 shares of company stock valued at $394,217 over the last three months. Company insiders own 10.30% of the company's stock.

Analyst Ratings Changes

VEEV has been the topic of several recent research reports. Barclays boosted their price objective on shares of Veeva Systems from $285.00 to $300.00 and gave the stock an "overweight" rating in a research report on Thursday, May 29th. UBS Group boosted their price objective on shares of Veeva Systems from $250.00 to $285.00 and gave the stock a "neutral" rating in a research report on Thursday, May 29th. KeyCorp raised their price target on shares of Veeva Systems from $285.00 to $325.00 and gave the stock an "overweight" rating in a research note on Monday, July 14th. Wall Street Zen upgraded shares of Veeva Systems from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Finally, Needham & Company LLC increased their price objective on shares of Veeva Systems from $270.00 to $300.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $274.17.

Veeva Systems Stock Up 2.0%

VEEV stock traded up $5.57 during mid-day trading on Friday, reaching $282.03. The company had a trading volume of 1,752,655 shares, compared to its average volume of 1,175,309. The stock has a market capitalization of $46.09 billion, a P/E ratio of 59.75, a P/E/G ratio of 2.19 and a beta of 0.98. Veeva Systems Inc. has a one year low of $177.41 and a one year high of $291.69. The stock's 50-day simple moving average is $270.48 and its two-hundred day simple moving average is $241.68.

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 for the quarter, beating analysts' consensus estimates of $1.74 by $0.23. Veeva Systems had a net margin of 27.34% and a return on equity of 13.96%. The business had revenue of $759.04 million for the quarter, compared to analysts' expectations of $728.38 million. During the same period in the previous year, the business earned $1.50 earnings per share. The company's revenue was up 16.7% on a year-over-year basis. On average, research analysts forecast that Veeva Systems Inc. will post 4.35 EPS for the current fiscal year.

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.