iA Global Asset Management Inc. Purchases 889 Shares of Veeva Systems Inc. (NYSE:VEEV)

iA Global Asset Management Inc. increased its position in Veeva Systems Inc. (NYSE:VEEV) by 17.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,851 shares of the technology company’s stock after acquiring an additional 889 shares during the quarter. iA Global Asset Management Inc.’s holdings in Veeva Systems were worth $1,356,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Advisors Asset Management Inc. bought a new stake in shares of Veeva Systems in the first quarter valued at approximately $28,000. DSM Capital Partners LLC acquired a new stake in Veeva Systems during the fourth quarter worth about $29,000. First Financial Corp IN bought a new stake in shares of Veeva Systems in the 1st quarter worth approximately $35,000. Larson Financial Group LLC grew its holdings in shares of Veeva Systems by 1,153.8% during the 1st quarter. Larson Financial Group LLC now owns 163 shares of the technology company’s stock worth $38,000 after purchasing an additional 150 shares in the last quarter. Finally, Vermillion & White Wealth Management Group LLC bought a new stake in shares of Veeva Systems during the fourth quarter valued at approximately $32,000. Institutional investors own 88.20% of the company’s stock.

Insider Buying and Selling at Veeva Systems

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

Analyst Ratings Changes

Several equities research analysts have issued reports on VEEV shares. BTIG Research assumed coverage on shares of Veeva Systems in a report on Tuesday, July 9th. They issued a “buy” rating and a $240.00 price target on the stock. StockNews.com raised Veeva Systems from a “hold” rating to a “buy” rating in a report on Friday, April 12th. Needham & Company LLC reiterated a “buy” rating and set a $260.00 target price on shares of Veeva Systems in a research report on Monday, July 15th. Royal Bank of Canada restated an “outperform” rating and issued a $250.00 price target on shares of Veeva Systems in a research report on Friday, June 21st. Finally, Barclays dropped their price objective on shares of Veeva Systems from $245.00 to $220.00 and set an “overweight” rating for the company in a report on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $228.27.

Veeva Systems Price Performance

Shares of VEEV traded down $2.77 during midday trading on Thursday, hitting $189.16. The stock had a trading volume of 696,490 shares, compared to its average volume of 985,497. The firm has a market cap of $30.58 billion, a price-to-earnings ratio of 56.62, a price-to-earnings-growth ratio of 1.90 and a beta of 0.80. Veeva Systems Inc. has a twelve month low of $162.72 and a twelve month high of $236.90. The company has a 50 day simple moving average of $186.25 and a two-hundred day simple moving average of $204.45.

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

Veeva Systems Company 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.