Arthur M. Cohen & Associates LLC Sells 1,040 Shares of Veeva Systems Inc. (NYSE:VEEV)

Arthur M. Cohen & Associates LLC trimmed its position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 6.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,577 shares of the technology company's stock after selling 1,040 shares during the period. Veeva Systems makes up 0.7% of Arthur M. Cohen & Associates LLC's portfolio, making the stock its 27th biggest position. Arthur M. Cohen & Associates LLC's holdings in Veeva Systems were worth $3,608,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in VEEV. Cardinal Capital Management grew its stake in Veeva Systems by 0.3% in the fourth quarter. Cardinal Capital Management now owns 15,727 shares of the technology company's stock worth $3,307,000 after purchasing an additional 44 shares in the last quarter. Johnson Financial Group Inc. grew its position in Veeva Systems by 22.7% in the 4th quarter. Johnson Financial Group Inc. now owns 238 shares of the technology company's stock worth $56,000 after purchasing an additional 44 shares during the last quarter. Old North State Wealth Management LLC increased its position in Veeva Systems by 0.4% in the 4th quarter. Old North State Wealth Management LLC now owns 15,351 shares of the technology company's stock valued at $3,228,000 after acquiring an additional 55 shares during the period. Colonial Trust Co SC increased its holdings in shares of Veeva Systems by 30.3% during the fourth quarter. Colonial Trust Co SC now owns 241 shares of the technology company's stock valued at $51,000 after purchasing an additional 56 shares during the period. Finally, Twin City Private Wealth LLC raised its stake in shares of Veeva Systems by 2.9% during the fourth quarter. Twin City Private Wealth LLC now owns 2,036 shares of the technology company's stock valued at $428,000 after purchasing an additional 58 shares in the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Veeva Systems

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,200 shares of the company's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $220.97, for a total value of $265,164.00. Following the transaction, the insider now directly owns 25,889 shares of the company's stock, valued at $5,720,692.33. This represents a 4.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Timothy S. Cabral sold 3,882 shares of Veeva Systems stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $216.83, for a total value of $841,734.06. Following the sale, the director now owns 5,500 shares of the company's stock, valued at approximately $1,192,565. This represents a 41.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,869 shares of company stock valued at $1,284,917 over the last three months. 10.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

VEEV has been the subject of a number of recent analyst reports. Morgan Stanley increased their target price 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. KeyCorp reduced their price target on shares of Veeva Systems from $260.00 to $250.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Wall Street Zen upgraded shares of Veeva Systems from a "hold" rating to a "buy" rating in a report on Friday, May 30th. UBS Group boosted their target price on Veeva Systems from $250.00 to $285.00 and gave the stock a "neutral" rating in a report on Thursday, May 29th. Finally, Mizuho upped their target price on Veeva Systems from $280.00 to $295.00 and gave the stock an "outperform" rating in a research report on Monday. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $269.80.

Veeva Systems Price Performance

Veeva Systems stock traded down $4.86 during midday trading on Friday, reaching $285.08. The stock had a trading volume of 2,087,466 shares, compared to its average volume of 1,138,948. Veeva Systems Inc. has a twelve month low of $176.41 and a twelve month high of $293.45. The firm has a market cap of $46.38 billion, a price-to-earnings ratio of 70.39, a PEG ratio of 1.89 and a beta of 0.99. The firm's fifty day simple moving average is $234.43 and its two-hundred day simple moving average is $229.56.

Veeva Systems (NYSE:VEEV - Get Free Report) last issued its earnings results on Wednesday, May 28th. The technology company reported $1.97 EPS for the quarter, topping the consensus estimate of $1.74 by $0.23. The business had revenue of $759.04 million during the quarter, compared to analysts' expectations of $728.38 million. Veeva Systems had a return on equity of 13.56% and a net margin of 25.07%. Veeva Systems's revenue was up 16.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.50 earnings per share. As a group, sell-side analysts predict that Veeva Systems Inc. will post 4.35 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.