Veeva Systems Inc. (NYSE:VEEV) Shares Bought by Generali Investments Management Co LLC

Generali Investments Management Co LLC boosted its stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 28.7% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 13,566 shares of the technology company's stock after acquiring an additional 3,029 shares during the period. Veeva Systems comprises about 0.9% of Generali Investments Management Co LLC's holdings, making the stock its 27th biggest holding. Generali Investments Management Co LLC's holdings in Veeva Systems were worth $3,142,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the stock. Centricity Wealth Management LLC purchased a new stake in shares of Veeva Systems in the fourth quarter valued at about $25,000. Smithfield Trust Co grew its holdings in shares of Veeva Systems by 145.5% in the fourth quarter. Smithfield Trust Co now owns 135 shares of the technology company's stock valued at $27,000 after purchasing an additional 80 shares during the period. Avion Wealth grew its holdings in shares of Veeva Systems by 635.0% in the fourth quarter. Avion Wealth now owns 147 shares of the technology company's stock valued at $30,000 after purchasing an additional 127 shares during the period. Venturi Wealth Management LLC grew its holdings in shares of Veeva Systems by 2,716.7% in the fourth quarter. Venturi Wealth Management LLC now owns 169 shares of the technology company's stock valued at $36,000 after purchasing an additional 163 shares during the period. Finally, Promus Capital LLC purchased a new stake in shares of Veeva Systems in the fourth quarter valued at about $36,000. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related 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 $1,960,701.60. This trade represents a 8.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 trade represents a 41.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,869 shares of company stock valued at $1,284,917. 10.30% of the stock is owned by corporate insiders.

Veeva Systems Trading Down 1.7%

NYSE:VEEV traded down $4.86 during mid-day trading on Friday, hitting $285.08. The stock had a trading volume of 2,087,466 shares, compared to its average volume of 1,135,959. The stock has a 50-day simple moving average of $234.43 and a two-hundred day simple moving average of $229.56. The company has a market capitalization of $46.38 billion, a PE ratio of 70.39, a PEG ratio of 1.89 and a beta of 0.99. Veeva Systems Inc. has a twelve month low of $176.41 and a twelve month high of $293.45.

Veeva Systems (NYSE:VEEV - Get Free Report) last issued its earnings results on Wednesday, May 28th. The technology company reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.23. The firm had revenue of $759.04 million for the quarter, compared to analysts' expectations of $728.38 million. Veeva Systems had a net margin of 25.07% and a return on equity of 13.56%. The firm's revenue was up 16.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.50 earnings per share. Sell-side analysts predict that Veeva Systems Inc. will post 4.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on VEEV shares. Stifel Nicolaus upped their price objective on shares of Veeva Systems from $272.00 to $295.00 and gave the company a "buy" rating in a report on Thursday, May 29th. Citigroup upped their price objective on shares of Veeva Systems from $265.00 to $329.00 and gave the company a "buy" rating in a report on Friday, May 30th. KeyCorp dropped their price objective on shares of Veeva Systems from $260.00 to $250.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Barclays increased their target price on shares of Veeva Systems from $285.00 to $300.00 and gave the stock an "overweight" rating in a research note on Thursday, May 29th. Finally, Needham & Company LLC increased their target price on shares of Veeva Systems from $270.00 to $300.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $269.80.

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.