William Allan Corp Purchases 1,690 Shares of Veeva Systems Inc. (NYSE:VEEV)

William Allan Corp boosted its holdings in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 13.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,550 shares of the technology company's stock after buying an additional 1,690 shares during the quarter. Veeva Systems makes up 2.1% of William Allan Corp's holdings, making the stock its 19th biggest holding. William Allan Corp's holdings in Veeva Systems were worth $3,370,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Abound Financial LLC acquired a new stake in Veeva Systems in the first quarter valued at about $25,000. ORG Partners LLC acquired a new stake in Veeva Systems in the first quarter valued at about $26,000. Golden State Wealth Management LLC boosted its stake 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 valued at $30,000 after buying an additional 78 shares in the last quarter. Wayfinding Financial LLC acquired a new stake in shares of Veeva Systems during the first quarter valued at about $32,000. Finally, Key Financial Inc boosted its stake in shares of Veeva Systems by 161.0% during the first quarter. Key Financial Inc now owns 154 shares of the technology company's stock valued at $36,000 after purchasing an additional 95 shares in the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Stifel Nicolaus lifted their price target on Veeva Systems from $272.00 to $295.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Needham & Company LLC lifted their price target on Veeva Systems from $270.00 to $300.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Truist Financial lifted their price target on Veeva Systems from $217.00 to $230.00 and gave the company a "hold" rating in a research note on Thursday, May 29th. Morgan Stanley lifted their price target on Veeva Systems from $201.00 to $210.00 and gave the company an "underweight" rating in a research note on Thursday, May 29th. Finally, KeyCorp lifted their price target on Veeva Systems from $285.00 to $325.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $274.17.

Insiders Place Their Bets

In other news, Director Priscilla Hung sold 171 shares of the business's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $284.40, for a total transaction of $48,632.40. Following the completion of the sale, the director owned 3,966 shares in the company, valued at $1,127,930.40. The trade was a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Timothy S. Cabral sold 315 shares of the business's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $289.72, for a total value of $91,261.80. Following the sale, 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. Over the last three months, insiders sold 1,378 shares of company stock worth $394,217. 10.30% of the stock is owned by corporate insiders.

Veeva Systems Trading Up 1.8%

VEEV stock traded up $5.10 during mid-day trading on Thursday, reaching $291.11. The company's stock had a trading volume of 539,005 shares, compared to its average volume of 1,324,255. The company has a market cap of $47.57 billion, a price-to-earnings ratio of 61.68, a price-to-earnings-growth ratio of 2.26 and a beta of 0.98. The business's 50 day moving average price is $273.09 and its 200 day moving average price is $243.19. Veeva Systems Inc. has a 12 month low of $177.41 and a 12 month high of $293.37.

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, topping analysts' consensus estimates of $1.74 by $0.23. The business had revenue of $759.04 million during the quarter, compared to the consensus estimate of $728.38 million. Veeva Systems had a return on equity of 13.96% and a net margin of 27.34%. The firm's revenue for the quarter was up 16.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.50 earnings per share. As a group, equities analysts expect that Veeva Systems Inc. will post 4.35 EPS for the current fiscal year.

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.