Diversified Trust Co Sells 1,585 Shares of Veeva Systems Inc. (NYSE:VEEV)

Diversified Trust Co lessened its position in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 12.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,318 shares of the technology company's stock after selling 1,585 shares during the period. Diversified Trust Co's holdings in Veeva Systems were worth $2,622,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Amalgamated Bank increased its holdings in shares of Veeva Systems by 5.1% in the fourth quarter. Amalgamated Bank now owns 10,429 shares of the technology company's stock valued at $2,193,000 after purchasing an additional 505 shares during the last quarter. Los Angeles Capital Management LLC lifted its stake in shares of Veeva Systems by 60.7% during the 4th quarter. Los Angeles Capital Management LLC now owns 6,552 shares of the technology company's stock worth $1,378,000 after buying an additional 2,474 shares during the last quarter. Whipplewood Advisors LLC bought a new stake in shares of Veeva Systems during the 4th quarter worth about $127,000. Mn Services Vermogensbeheer B.V. grew its stake in Veeva Systems by 1.7% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 59,600 shares of the technology company's stock valued at $12,531,000 after buying an additional 1,000 shares during the last quarter. Finally, Oppenheimer & Co. Inc. raised its holdings in Veeva Systems by 323.7% in the 4th quarter. Oppenheimer & Co. Inc. now owns 17,674 shares of the technology company's stock valued at $3,716,000 after acquiring an additional 13,503 shares during the period. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,200 shares of Veeva Systems stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $220.97, for a total transaction of $265,164.00. Following the transaction, the insider now directly owns 25,889 shares of the company's stock, valued at approximately $5,720,692.33. The trade was a 4.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jonathan Faddis sold 787 shares of the company's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $226.20, for a total value of $178,019.40. Following the completion of the sale, the senior vice president now owns 8,668 shares in the company, valued at $1,960,701.60. This trade represents a 8.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,184 shares of company stock valued at $1,376,179 over the last quarter. 10.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on VEEV. Barclays boosted their price objective on Veeva Systems from $285.00 to $300.00 and gave the stock an "overweight" rating in a report on Thursday, May 29th. Citigroup lifted their price target on Veeva Systems from $265.00 to $329.00 and gave the stock a "buy" rating in a report on Friday, May 30th. Wells Fargo & Company upped their price objective on Veeva Systems from $285.00 to $300.00 and gave the company an "overweight" rating in a report on Thursday, May 29th. KeyCorp lowered their price objective on Veeva Systems from $260.00 to $250.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Finally, Needham & Company LLC boosted their target price on shares of Veeva Systems from $270.00 to $300.00 and gave the company a "buy" rating in a research report on Thursday, May 29th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $269.80.

Veeva Systems Stock Up 0.6%

Shares of NYSE:VEEV traded up $1.70 during trading on Friday, hitting $282.89. 1,780,158 shares of the company were exchanged, compared to its average volume of 1,154,165. Veeva Systems Inc. has a 1-year low of $177.41 and a 1-year high of $291.69. The company has a market capitalization of $46.23 billion, a P/E ratio of 59.93, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. The business's 50 day moving average is $255.10 and its 200-day moving average is $235.54.

Veeva Systems (NYSE:VEEV - Get Free Report) last issued its earnings results on Wednesday, May 28th. The technology company reported $1.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 13.96% and a net margin of 27.34%. The business's revenue for the quarter was up 16.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.50 EPS. As a group, sell-side analysts anticipate that Veeva Systems Inc. will post 4.35 earnings per share for the current year.

About Veeva Systems

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.