CANADA LIFE ASSURANCE Co Has $30.79 Million Stake in Veeva Systems Inc. (NYSE:VEEV)

CANADA LIFE ASSURANCE Co increased its holdings in Veeva Systems Inc. (NYSE:VEEV) by 46.9% in the first quarter, Holdings Channel reports. The institutional investor owned 132,760 shares of the technology company’s stock after buying an additional 42,396 shares during the period. CANADA LIFE ASSURANCE Co’s holdings in Veeva Systems were worth $30,786,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. DSM Capital Partners LLC acquired a new stake in shares of Veeva Systems in the fourth quarter valued at approximately $29,000. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Veeva Systems in the fourth quarter valued at approximately $32,000. First Financial Corp IN bought a new position in Veeva Systems in the first quarter valued at approximately $35,000. American National Bank bought a new position in Veeva Systems in the fourth quarter valued at approximately $36,000. Finally, Larson Financial Group LLC increased its stake in Veeva Systems by 1,153.8% in the first quarter. Larson Financial Group LLC now owns 163 shares of the technology company’s stock valued at $38,000 after acquiring an additional 150 shares during the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Veeva Systems

In other news, CFO Timothy S. Cabral sold 15,000 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $184.33, for a total transaction of $2,764,950.00. Following the completion of the sale, 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 legal filing with the SEC, which is available at this hyperlink. 10.50% of the stock is currently owned by insiders.

Veeva Systems Stock Performance

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

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

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Morgan Stanley decreased their price objective on shares of Veeva Systems from $210.00 to $173.00 and set an “underweight” rating on the stock in a research note on Friday, May 31st. Needham & Company LLC reissued a “buy” rating and issued a $260.00 price objective on shares of Veeva Systems in a research note on Monday, July 15th. UBS Group decreased their price objective on shares of Veeva Systems from $235.00 to $185.00 and set a “neutral” rating on the stock in a research note on Friday, May 31st. Stifel Nicolaus decreased their target price on shares of Veeva Systems from $250.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, May 31st. Finally, Evercore ISI decreased their target price on shares of Veeva Systems from $230.00 to $200.00 and set an “in-line” rating on the stock in a research note on Friday, May 31st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, Veeva Systems presently has a consensus rating of “Moderate Buy” and an average price target of $228.27.

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.