Veeva Systems Inc. (NYSE:VEEV) Shares Sold by AtonRa Partners

AtonRa Partners lowered its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 9.3% during the fourth quarter, Holdings Channel reports. The fund owned 1,791 shares of the technology company’s stock after selling 183 shares during the quarter. AtonRa Partners’ holdings in Veeva Systems were worth $345,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. NewEdge Wealth LLC boosted its position in Veeva Systems by 0.6% during the third quarter. NewEdge Wealth LLC now owns 10,059 shares of the technology company’s stock worth $2,047,000 after acquiring an additional 60 shares during the last quarter. Yousif Capital Management LLC boosted its holdings in shares of Veeva Systems by 3.5% in the 4th quarter. Yousif Capital Management LLC now owns 1,777 shares of the technology company’s stock valued at $342,000 after purchasing an additional 60 shares during the last quarter. Personal CFO Solutions LLC boosted its holdings in shares of Veeva Systems by 5.9% in the 3rd quarter. Personal CFO Solutions LLC now owns 1,091 shares of the technology company’s stock valued at $222,000 after purchasing an additional 61 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of Veeva Systems by 3.4% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,940 shares of the technology company’s stock valued at $395,000 after purchasing an additional 63 shares during the last quarter. Finally, Cape Investment Advisory Inc. boosted its holdings in shares of Veeva Systems by 3.0% in the 3rd quarter. Cape Investment Advisory Inc. now owns 2,180 shares of the technology company’s stock valued at $444,000 after purchasing an additional 64 shares during the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Wall Street Analysts Forecast Growth

VEEV has been the topic of a number of research analyst reports. Truist Financial lifted their price target on shares of Veeva Systems from $187.00 to $203.00 and gave the company a “hold” rating in a report on Friday, March 1st. UBS Group lifted their price target on shares of Veeva Systems from $185.00 to $235.00 and gave the company a “neutral” rating in a report on Monday, February 26th. Citigroup lifted their price target on shares of Veeva Systems from $240.00 to $264.00 and gave the company a “buy” rating in a report on Friday, March 1st. Oppenheimer restated an “outperform” rating and set a $225.00 target price on shares of Veeva Systems in a report on Thursday, February 22nd. Finally, The Goldman Sachs Group lifted their target price on shares of Veeva Systems from $219.00 to $248.00 and gave the company a “buy” rating in a report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $234.90.

Insider Activity

In other Veeva Systems news, EVP Alan Mateo sold 3,391 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $200.86, for a total transaction of $681,116.26. Following the completion of the transaction, the executive vice president now directly owns 21,983 shares of the company’s stock, valued at approximately $4,415,505.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Veeva Systems news, EVP Alan Mateo sold 3,391 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $200.86, for a total transaction of $681,116.26. Following the completion of the transaction, the executive vice president now directly owns 21,983 shares of the company’s stock, valued at approximately $4,415,505.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Timothy S. Cabral sold 15,000 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $226.04, for a total transaction of $3,390,600.00. Following the transaction, the director now directly owns 23,391 shares of the company’s stock, valued at $5,287,301.64. The disclosure for this sale can be found here. In the last three months, insiders sold 21,989 shares of company stock valued at $4,818,013. Company insiders own 10.98% of the company’s stock.

Veeva Systems Stock Performance

Shares of NYSE VEEV traded up $0.66 during midday trading on Monday, hitting $201.57. The company’s stock had a trading volume of 814,814 shares, compared to its average volume of 968,906. Veeva Systems Inc. has a 1-year low of $160.21 and a 1-year high of $236.90. The firm’s fifty day moving average price is $219.27 and its 200-day moving average price is $202.45. The firm has a market cap of $32.52 billion, a P/E ratio of 62.39, a P/E/G ratio of 2.03 and a beta of 0.74.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings results on Thursday, February 29th. The technology company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.81 by $0.11. Veeva Systems had a net margin of 22.24% and a return on equity of 11.26%. The business had revenue of $630.62 million during the quarter, compared to analyst estimates of $620.75 million. As a group, research analysts predict that Veeva Systems Inc. will post 4.11 earnings per share for the current fiscal 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.