Veeva Systems Inc. (NYSE:VEEV) Shares Purchased by Achmea Investment Management B.V.

Achmea Investment Management B.V. increased its stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 39.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,012 shares of the technology company's stock after purchasing an additional 4,265 shares during the period. Achmea Investment Management B.V.'s holdings in Veeva Systems were worth $3,477,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of VEEV. ORG Partners LLC acquired a new stake in Veeva Systems in the 1st quarter valued at about $26,000. Golden State Wealth Management LLC raised its holdings in Veeva Systems by 152.9% in the 1st quarter. Golden State Wealth Management LLC now owns 129 shares of the technology company's stock valued at $30,000 after acquiring an additional 78 shares during the last quarter. Smithfield Trust Co raised its holdings in Veeva Systems by 145.5% in the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company's stock valued at $27,000 after acquiring an additional 80 shares during the last quarter. Promus Capital LLC purchased a new stake in shares of Veeva Systems in the 4th quarter valued at approximately $36,000. Finally, Itau Unibanco Holding S.A. grew its stake in shares of Veeva Systems by 389.2% in the 4th quarter. Itau Unibanco Holding S.A. now owns 181 shares of the technology company's stock valued at $38,000 after buying an additional 144 shares during the period. Institutional investors and hedge funds own 88.20% of the company's stock.

Veeva Systems Trading Up 0.6%

Shares of VEEV opened at $282.89 on Friday. Veeva Systems Inc. has a twelve month low of $177.41 and a twelve month high of $291.69. The firm's fifty day simple moving average is $255.10 and its 200-day simple moving average is $235.54. The firm has a market capitalization of $46.23 billion, a price-to-earnings ratio of 59.93, a PEG ratio of 2.21 and a beta of 0.99.

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, 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 analyst estimates of $728.38 million. During the same period last year, the business earned $1.50 EPS. The company's revenue was up 16.7% on a year-over-year basis. On average, analysts predict that Veeva Systems Inc. will post 4.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on VEEV. Stephens reissued an "overweight" rating and issued a $280.00 price target on shares of Veeva Systems in a research note on Thursday, March 6th. Robert W. Baird increased their price target on shares of Veeva Systems from $283.00 to $285.00 and gave the company an "outperform" rating in a research note on Thursday, March 6th. KeyCorp lowered their price objective on shares of Veeva Systems from $260.00 to $250.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Truist Financial increased their price objective on shares of Veeva Systems from $217.00 to $230.00 and gave the stock a "hold" rating in a research report on Thursday, May 29th. Finally, Raymond James Financial increased their price objective on shares of Veeva Systems from $285.00 to $310.00 and gave the stock an "outperform" rating in a research report on Thursday, May 29th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, Veeva Systems presently has an average rating of "Moderate Buy" and a consensus target price of $269.80.

Insider Buying and Selling

In other Veeva Systems news, SVP Jonathan Faddis sold 787 shares of Veeva Systems stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $226.20, for a total value of $178,019.40. Following the transaction, the senior vice president now directly owns 8,668 shares in the company, valued at approximately $1,960,701.60. The trade was a 8.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Timothy S. Cabral sold 3,882 shares of Veeva Systems stock in a transaction on Friday, April 4th. The shares were sold at an average price of $216.83, for a total transaction of $841,734.06. Following the completion of the transaction, the director now owns 5,500 shares in the company, valued at approximately $1,192,565. This represents a 41.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,184 shares of company stock worth $1,376,179 in the last ninety days. 10.30% of the stock is owned by corporate 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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