Ethic Inc. Buys 3,098 Shares of Veeva Systems Inc. (NYSE:VEEV)

Ethic Inc. boosted its stake in Veeva Systems Inc. (NYSE:VEEV) by 22.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,927 shares of the technology company’s stock after purchasing an additional 3,098 shares during the period. Ethic Inc.’s holdings in Veeva Systems were worth $3,858,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in VEEV. Mariner LLC grew its position in Veeva Systems by 5.5% in the 4th quarter. Mariner LLC now owns 26,936 shares of the technology company’s stock worth $5,663,000 after purchasing an additional 1,396 shares during the period. Canada Pension Plan Investment Board grew its position in shares of Veeva Systems by 71.5% during the 4th quarter. Canada Pension Plan Investment Board now owns 211,766 shares of the technology company’s stock valued at $44,524,000 after acquiring an additional 88,309 shares during the period. CANADA LIFE ASSURANCE Co grew its position in shares of Veeva Systems by 2.9% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 148,716 shares of the technology company’s stock valued at $31,245,000 after acquiring an additional 4,199 shares during the period. GeoWealth Management LLC grew its position in shares of Veeva Systems by 11.0% during the 4th quarter. GeoWealth Management LLC now owns 1,022 shares of the technology company’s stock valued at $215,000 after acquiring an additional 101 shares during the period. Finally, Forum Financial Management LP grew its position in shares of Veeva Systems by 75.9% during the 4th quarter. Forum Financial Management LP now owns 2,144 shares of the technology company’s stock valued at $451,000 after acquiring an additional 925 shares during the period. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Performance

Shares of NYSE:VEEV opened at $280.18 on Friday. The firm has a market cap of $45.78 billion, a PE ratio of 59.36, a price-to-earnings-growth ratio of 2.22 and a beta of 0.95. The firm’s 50 day simple moving average is $282.25 and its 200-day simple moving average is $250.87. Veeva Systems Inc. has a one year low of $190.69 and a one year high of $296.72.

Veeva Systems (NYSE:VEEV) last issued its earnings results on Wednesday, May 28th. The technology company reported $1.97 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 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 period last year, the company posted $1.50 earnings per share. Equities research analysts predict that Veeva Systems Inc. will post 4.35 EPS for the current fiscal year.

Insider Transactions at Veeva Systems

In other news, Director Priscilla Hung sold 172 shares of the firm’s stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $283.00, for a total transaction of $48,676.00. Following the transaction, the director directly owned 4,137 shares of the company’s stock, valued at approximately $1,170,771. This trade represents a 3.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Jonathan Faddis sold 720 shares of the firm’s stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $285.62, for a total transaction of $205,646.40. Following the transaction, the senior vice president directly owned 7,902 shares in the company, valued at approximately $2,256,969.24. This trade represents a 8.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,378 shares of company stock valued at $394,217. 10.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on VEEV. Wells Fargo & Company boosted their price objective on shares of Veeva Systems from $285.00 to $300.00 and gave the company an “overweight” rating in a research report on Thursday, May 29th. Barclays boosted their price objective on shares of Veeva Systems from $285.00 to $300.00 and gave the company an “overweight” rating in a research report on Thursday, May 29th. Morgan Stanley boosted their price objective on shares of Veeva Systems from $201.00 to $210.00 and gave the company an “underweight” rating in a research report on Thursday, May 29th. Piper Sandler upped their target price on shares of Veeva Systems from $255.00 to $325.00 and gave the stock an “overweight” rating in a report on Thursday, May 29th. Finally, Truist Financial upped their target price on shares of 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 given a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $274.17.

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.