World Investment Advisors Buys 2,239 Shares of Veeva Systems Inc. (NYSE:VEEV)

World Investment Advisors raised its stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 20.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,361 shares of the technology company's stock after acquiring an additional 2,239 shares during the period. World Investment Advisors' holdings in Veeva Systems were worth $3,095,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of VEEV. Johnson Financial Group Inc. boosted its position in shares of Veeva Systems by 22.7% during the fourth quarter. Johnson Financial Group Inc. now owns 238 shares of the technology company's stock worth $56,000 after buying an additional 44 shares during the period. Colonial Trust Co SC boosted its position in shares of Veeva Systems by 30.3% during the fourth quarter. Colonial Trust Co SC now owns 241 shares of the technology company's stock worth $51,000 after buying an additional 56 shares during the period. Twin City Private Wealth LLC boosted its position in shares of Veeva Systems by 2.9% during the fourth quarter. Twin City Private Wealth LLC now owns 2,036 shares of the technology company's stock worth $428,000 after buying an additional 58 shares during the period. CoreCap Advisors LLC boosted its position in shares of Veeva Systems by 31.7% during the fourth quarter. CoreCap Advisors LLC now owns 249 shares of the technology company's stock worth $52,000 after buying an additional 60 shares during the period. Finally, True Wealth Design LLC boosted its position in shares of Veeva Systems by 46.0% during the fourth quarter. True Wealth Design LLC now owns 203 shares of the technology company's stock worth $43,000 after buying an additional 64 shares during the period. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Veeva Systems Stock Performance

Shares of NYSE VEEV traded down $2.16 during mid-day trading on Thursday, reaching $282.20. The company had a trading volume of 1,131,969 shares, compared to its average volume of 1,165,945. The stock has a market capitalization of $46.11 billion, a PE ratio of 59.79, a price-to-earnings-growth ratio of 2.22 and a beta of 0.98. Veeva Systems Inc. has a twelve month low of $177.41 and a twelve month high of $291.69. The stock's 50 day moving average is $264.32 and its 200-day moving average is $238.57.

Veeva Systems (NYSE:VEEV - Get Free Report) last posted 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. The firm 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 business's quarterly revenue was up 16.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.50 earnings per share. On average, sell-side analysts anticipate that Veeva Systems Inc. will post 4.35 EPS for the current year.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, Director Timothy S. Cabral sold 315 shares of the company's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $289.72, for a total transaction of $91,261.80. Following the completion of the sale, the director directly owned 5,500 shares in the company, valued at $1,593,460. This represents a 5.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Priscilla Hung sold 171 shares of the company's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $284.40, for a total transaction of $48,632.40. Following the sale, the director owned 3,966 shares of the company's stock, valued at $1,127,930.40. This trade represents a 4.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,858 shares of company stock worth $453,734 over the last ninety days. Company insiders own 10.30% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Truist Financial upped their target price on Veeva Systems from $217.00 to $230.00 and gave the stock a "hold" rating in a research report on Thursday, May 29th. Wall Street Zen upgraded Veeva Systems from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. Morgan Stanley upped their target price on Veeva Systems from $201.00 to $210.00 and gave the stock an "underweight" rating in a research report on Thursday, May 29th. Stifel Nicolaus upped their target price on Veeva Systems from $272.00 to $295.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. Finally, KeyCorp cut their target price on Veeva Systems from $260.00 to $250.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $271.04.

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.