AEGON ASSET MANAGEMENT UK Plc Cuts Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

AEGON ASSET MANAGEMENT UK Plc decreased its position in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 3.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 113,427 shares of the technology company's stock after selling 4,330 shares during the period. AEGON ASSET MANAGEMENT UK Plc owned approximately 0.07% of Veeva Systems worth $26,266,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Centricity Wealth Management LLC acquired a new position in shares of Veeva Systems during the 4th quarter valued at $25,000. Smithfield Trust Co increased its stake in 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 in the last quarter. Avion Wealth raised its holdings in shares of Veeva Systems by 635.0% during 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 boosted its position in shares of Veeva Systems by 2,716.7% during the 4th quarter. Venturi Wealth Management LLC now owns 169 shares of the technology company's stock worth $36,000 after purchasing an additional 163 shares in the last quarter. Finally, Promus Capital LLC acquired a new stake in shares of Veeva Systems in the 4th quarter valued at about $36,000. Institutional investors own 88.20% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Piper Sandler increased their price target on Veeva Systems from $255.00 to $325.00 and gave the stock an "overweight" rating in a report on Thursday, May 29th. UBS Group increased their target price on Veeva Systems from $250.00 to $285.00 and gave the stock a "neutral" rating in a report on Thursday, May 29th. KeyCorp reduced their price target 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. Citigroup lifted 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. Finally, Scotiabank increased their price objective on shares of Veeva Systems from $240.00 to $245.00 and gave the company a "sector perform" rating in a research note on Thursday, March 6th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company's stock. Based on data from MarketBeat, Veeva Systems has a consensus rating of "Moderate Buy" and a consensus target price of $269.80.

Veeva Systems Price Performance

Shares of Veeva Systems stock traded up $6.42 during trading hours on Thursday, reaching $289.99. The company had a trading volume of 1,998,316 shares, compared to its average volume of 1,136,709. The firm has a market cap of $47.18 billion, a PE ratio of 71.60, a price-to-earnings-growth ratio of 1.89 and a beta of 0.96. Veeva Systems Inc. has a one year low of $176.41 and a one year high of $291.56. The business has a fifty day simple moving average of $233.26 and a 200 day simple moving average of $229.03.

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

Insider Activity

In related news, Director Timothy S. Cabral sold 3,882 shares of the company's stock in a transaction on Friday, April 4th. The shares were sold at an average price of $216.83, for a total value of $841,734.06. Following the completion of the transaction, the director now directly owns 5,500 shares in the company, valued at approximately $1,192,565. The trade was a 41.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas D. Schwenger sold 1,200 shares of the firm's stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $220.97, for a total value of $265,164.00. Following the sale, the insider now owns 25,889 shares in the company, valued at $5,720,692.33. The trade was a 4.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,869 shares of company stock worth $1,284,917 in the last three months. Corporate insiders own 10.30% of the company's stock.

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.