Veeva Systems Inc. (NYSE:VEEV) Shares Bought by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co raised its position in Veeva Systems Inc. (NYSE:VEEV) by 46.9% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 132,760 shares of the technology company’s stock after buying an additional 42,396 shares during the quarter. CANADA LIFE ASSURANCE Co owned about 0.08% of Veeva Systems worth $30,786,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of VEEV. DSM Capital Partners LLC purchased a new stake in shares of Veeva Systems in the 4th quarter worth about $29,000. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Veeva Systems in the 4th quarter worth about $32,000. First Financial Corp IN purchased a new stake in shares of Veeva Systems in the 1st quarter worth about $35,000. American National Bank purchased a new stake in shares of Veeva Systems in the 4th quarter worth about $36,000. Finally, Larson Financial Group LLC boosted its position in shares of Veeva Systems by 1,153.8% in the 1st quarter. Larson Financial Group LLC now owns 163 shares of the technology company’s stock worth $38,000 after buying an additional 150 shares in the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Timothy S. Cabral sold 15,000 shares of the firm’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $184.33, for a total transaction of $2,764,950.00. Following the transaction, the chief financial officer now directly owns 8,391 shares in the company, valued at $1,546,713.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 10.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

VEEV has been the topic of a number of recent research reports. StockNews.com upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a report on Friday, April 12th. Bank of America cut their price objective on shares of Veeva Systems from $240.00 to $204.00 and set a “neutral” rating on the stock in a report on Friday, May 31st. Piper Sandler cut their price objective on shares of Veeva Systems from $235.00 to $225.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Needham & Company LLC reiterated a “buy” rating and set a $260.00 price objective on shares of Veeva Systems in a report on Monday, July 15th. Finally, Stifel Nicolaus dropped their target price on shares of Veeva Systems from $250.00 to $210.00 and set a “buy” rating for the company in a research report on Friday, May 31st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $228.27.

Veeva Systems Stock Performance

Shares of VEEV stock traded up $4.63 during mid-day trading on Thursday, reaching $188.88. 685,641 shares of the company were exchanged, compared to its average volume of 986,387. Veeva Systems Inc. has a fifty-two week low of $162.72 and a fifty-two week high of $236.90. The company has a market capitalization of $30.53 billion, a P/E ratio of 54.84, a P/E/G ratio of 1.83 and a beta of 0.80. The business’s 50 day simple moving average is $188.02 and its 200 day simple moving average is $204.69.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings results on Thursday, May 30th. The technology company reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.10. Veeva Systems had a net margin of 22.34% and a return on equity of 12.74%. The business had revenue of $650.35 million during the quarter, compared to the consensus estimate of $641.73 million. On average, analysts forecast that Veeva Systems Inc. will post 4.19 EPS for the current 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.