William Allan Corp Has $3.37 Million Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

William Allan Corp grew its holdings in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 13.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,550 shares of the technology company's stock after purchasing an additional 1,690 shares during the period. Veeva Systems comprises about 2.1% of William Allan Corp's investment portfolio, making the stock its 19th biggest holding. William Allan Corp's holdings in Veeva Systems were worth $3,370,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Abound Financial LLC purchased a new position in Veeva Systems during the first quarter valued at $25,000. ORG Partners LLC purchased a new position in Veeva Systems during the first quarter valued at $26,000. Golden State Wealth Management LLC lifted its position in Veeva Systems by 152.9% during the first quarter. Golden State Wealth Management LLC now owns 129 shares of the technology company's stock valued at $30,000 after purchasing an additional 78 shares in the last quarter. Wayfinding Financial LLC purchased a new position in Veeva Systems during the first quarter valued at $32,000. Finally, Key Financial Inc lifted its position in 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. Institutional investors own 88.20% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on VEEV. KeyCorp boosted their price objective on Veeva Systems from $285.00 to $325.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. Needham & Company LLC lifted their target price on Veeva Systems from $270.00 to $300.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. Wells Fargo & Company lifted their target price on Veeva Systems from $285.00 to $300.00 and gave the stock an "overweight" rating in a report on Thursday, May 29th. Stifel Nicolaus lifted their target price on Veeva Systems from $272.00 to $295.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. Finally, Truist Financial lifted their target price on Veeva Systems from $217.00 to $230.00 and gave the stock a "hold" rating in a report on Thursday, May 29th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, Veeva Systems presently has a consensus rating of "Moderate Buy" and a consensus price target of $274.17.

Veeva Systems Trading Up 1.8%

Shares of Veeva Systems stock traded up $4.96 on Tuesday, reaching $285.96. 1,645,035 shares of the stock were exchanged, compared to its average volume of 1,178,382. The firm has a market capitalization of $46.73 billion, a PE ratio of 60.58, a PEG ratio of 2.24 and a beta of 0.98. Veeva Systems Inc. has a 1-year low of $177.41 and a 1-year high of $291.69. The business has a fifty day moving average price of $270.48 and a two-hundred day moving average price of $242.11.

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 (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.23. The business had revenue of $759.04 million for the quarter, compared to the consensus estimate of $728.38 million. Veeva Systems had a net margin of 27.34% and a return on equity of 13.96%. The company's quarterly revenue was up 16.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.50 earnings per share. Research analysts expect that Veeva Systems Inc. will post 4.35 EPS for the current year.

Insider Transactions at Veeva Systems

In related news, 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 directly owned 5,500 shares in the company, valued at $1,593,460. The trade was a 5.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Priscilla Hung sold 172 shares of the business's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $283.00, for a total transaction of $48,676.00. Following the completion of the sale, the director owned 4,137 shares in the company, valued at $1,170,771. The trade was a 3.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,378 shares of company stock worth $394,217. 10.30% of the stock is currently owned by insiders.

Veeva Systems Company 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.