933 Shares in Veeva Systems Inc. (NYSE:VEEV) Acquired by Revolve Wealth Partners LLC

Revolve Wealth Partners LLC purchased a new stake in Veeva Systems Inc. (NYSE:VEEV) in the 1st quarter, HoldingsChannel.com reports. The fund purchased 933 shares of the technology company’s stock, valued at approximately $216,000.

Several other large investors have also recently bought and sold shares of VEEV. T. Rowe Price Investment Management Inc. grew its position in Veeva Systems by 3.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,169,698 shares of the technology company’s stock worth $1,086,930,000 after acquiring an additional 177,201 shares in the last quarter. Leigh Baldwin & CO. LLC purchased a new stake in Veeva Systems during the fourth quarter valued at about $685,355,000. FMR LLC lifted its stake in Veeva Systems by 7.8% during the fourth quarter. FMR LLC now owns 3,213,360 shares of the technology company’s stock worth $675,609,000 after purchasing an additional 232,116 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Veeva Systems by 17.5% in the 4th quarter. JPMorgan Chase & Co. now owns 3,005,633 shares of the technology company’s stock worth $631,935,000 after purchasing an additional 447,041 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Veeva Systems by 36.0% during the 4th quarter. Principal Financial Group Inc. now owns 2,964,025 shares of the technology company’s stock valued at $623,186,000 after purchasing an additional 784,741 shares during the last quarter. 88.20% of the stock is owned by institutional investors.

Insider Activity at Veeva Systems

In related news, SVP Jonathan Faddis sold 787 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $226.20, for a total transaction of $178,019.40. Following the transaction, the senior vice president now owns 8,668 shares in the company, valued at $1,960,701.60. The trade was a 8.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thomas D. Schwenger sold 1,200 shares of the business’s stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $220.97, for a total transaction of $265,164.00. Following the transaction, the insider now owns 25,889 shares in the company, valued at $5,720,692.33. This represents a 4.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,869 shares of company stock worth $1,284,917 over the last 90 days. 10.30% of the stock is owned by company insiders.

Veeva Systems Stock Down 1.7%

Shares of Veeva Systems stock opened at $285.08 on Monday. The firm has a market cap of $46.38 billion, a PE ratio of 70.39, a price-to-earnings-growth ratio of 1.89 and a beta of 0.99. Veeva Systems Inc. has a 12-month low of $176.41 and a 12-month high of $291.68. The company’s fifty day simple moving average is $235.57 and its two-hundred day simple moving average is $230.33.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings results on Wednesday, May 28th. The technology company reported $1.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.23. The business had revenue of $759.04 million for the quarter, compared to analyst estimates of $728.38 million. Veeva Systems had a net margin of 25.07% and a return on equity of 13.56%. The company’s revenue was up 16.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.50 EPS. As a group, sell-side analysts expect that Veeva Systems Inc. will post 4.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on VEEV. KeyCorp dropped 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. Truist Financial lifted their price target on shares of Veeva Systems from $217.00 to $230.00 and gave the stock a “hold” rating in a research note on Thursday, May 29th. Stifel Nicolaus upped their price objective on shares of Veeva Systems from $272.00 to $295.00 and gave the company a “buy” rating in a research note on Thursday, May 29th. Wells Fargo & Company lifted their target price on shares of Veeva Systems from $285.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday, May 29th. Finally, Wall Street Zen raised shares of Veeva Systems from a “hold” rating to a “buy” rating in a research note on Friday, May 30th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Veeva Systems presently has an average rating of “Moderate Buy” and a consensus target price of $269.80.

About Veeva Systems

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.