Simplicity Wealth LLC Buys Shares of 3,960 Veeva Systems Inc. (NYSE:VEEV)

Simplicity Wealth LLC purchased a new position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,960 shares of the technology company's stock, valued at approximately $917,000.

A number of other large investors also recently modified their holdings of VEEV. Spire Wealth Management boosted its position in Veeva Systems by 47.4% during the 1st quarter. Spire Wealth Management now owns 1,415 shares of the technology company's stock worth $328,000 after buying an additional 455 shares during the period. H&H Retirement Design & Management INC acquired a new position in shares of Veeva Systems during the first quarter worth $294,000. Assenagon Asset Management S.A. lifted its holdings in shares of Veeva Systems by 16.3% during the first quarter. Assenagon Asset Management S.A. now owns 85,703 shares of the technology company's stock worth $19,857,000 after purchasing an additional 11,983 shares during the period. Global Retirement Partners LLC increased its holdings in Veeva Systems by 7.0% in the first quarter. Global Retirement Partners LLC now owns 5,501 shares of the technology company's stock valued at $1,275,000 after purchasing an additional 358 shares during the period. Finally, Summit Trail Advisors LLC bought a new position in Veeva Systems during the 1st quarter worth $242,000. 88.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

VEEV has been the topic of a number of analyst reports. Barclays upped their price target on Veeva Systems from $240.00 to $245.00 and gave the company an "overweight" rating in a research report on Friday, March 1st. Jefferies Financial Group raised their price target on shares of Veeva Systems from $225.00 to $270.00 and gave the stock a "buy" rating in a report on Monday, March 4th. Stifel Nicolaus upped their price objective on shares of Veeva Systems from $205.00 to $250.00 and gave the company a "buy" rating in a research note on Friday, March 1st. Robert W. Baird lifted their target price on shares of Veeva Systems from $245.00 to $251.00 and gave the stock an "outperform" rating in a research note on Friday, March 1st. Finally, Piper Sandler boosted their target price on shares of Veeva Systems from $220.00 to $245.00 and gave the company an "overweight" rating in a report on Friday, March 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $234.90.

Veeva Systems Price Performance

Shares of NYSE VEEV traded down $0.37 during mid-day trading on Monday, reaching $209.90. 495,871 shares of the company's stock traded hands, compared to its average volume of 916,077. The business has a 50-day simple moving average of $213.17 and a 200 day simple moving average of $203.04. The stock has a market cap of $33.86 billion, a P/E ratio of 65.19, a PEG ratio of 2.13 and a beta of 0.76. Veeva Systems Inc. has a 1-year low of $160.21 and a 1-year high of $236.90.

Veeva Systems (NYSE:VEEV - Get Free Report) last released its quarterly earnings results on Thursday, February 29th. The technology company reported $0.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.81 by $0.11. The business had revenue of $630.62 million during the quarter, compared to the consensus estimate of $620.75 million. Veeva Systems had a return on equity of 11.26% and a net margin of 22.24%. Equities research analysts anticipate that Veeva Systems Inc. will post 4.11 earnings per share for the current fiscal year.

Insider Activity at Veeva Systems

In other Veeva Systems news, EVP Alan Mateo sold 3,391 shares of the stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $200.86, for a total value of $681,116.26. Following the completion of the sale, the executive vice president now owns 21,983 shares in the company, valued at approximately $4,415,505.38. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, EVP Alan Mateo sold 3,391 shares of the business's stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $200.86, for a total value of $681,116.26. Following the transaction, the executive vice president now directly owns 21,983 shares of the company's stock, valued at approximately $4,415,505.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Timothy S. Cabral sold 15,000 shares of the firm's stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $226.04, for a total transaction of $3,390,600.00. Following the sale, the director now owns 23,391 shares of the company's stock, valued at approximately $5,287,301.64. The disclosure for this sale can be found here. Insiders have sold 21,989 shares of company stock valued at $4,818,013 over the last ninety days. Corporate insiders own 10.50% 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.

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