Veeva Systems Inc. (NYSE:VEEV) Shares Sold by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lessened its stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 54.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,056 shares of the technology company's stock after selling 8,502 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Veeva Systems were worth $1,484,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Cardinal Capital Management lifted its holdings in shares of 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 buying an additional 44 shares in the last quarter. Johnson Financial Group Inc. lifted its holdings in shares of Veeva Systems by 22.7% in the fourth quarter. Johnson Financial Group Inc. now owns 238 shares of the technology company's stock worth $56,000 after buying an additional 44 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Veeva Systems by 72.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company's stock worth $25,000 after buying an additional 50 shares in the last quarter. Patriot Financial Group Insurance Agency LLC increased its position in Veeva Systems by 0.7% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 6,975 shares of the technology company's stock worth $1,467,000 after purchasing an additional 51 shares during the last quarter. Finally, Old North State Wealth Management LLC increased its position in Veeva Systems by 0.4% in the fourth quarter. Old North State Wealth Management LLC now owns 15,351 shares of the technology company's stock worth $3,228,000 after purchasing an additional 55 shares during the last quarter. Hedge funds and other institutional investors own 88.20% of the company's stock.

Insider Buying and Selling

In other Veeva Systems news, Director Timothy S. Cabral sold 3,882 shares of the stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $216.83, for a total transaction of $841,734.06. Following the completion of the sale, the director now directly 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Jonathan Faddis sold 787 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $226.20, for a total transaction of $178,019.40. Following the sale, the senior vice president now directly owns 8,668 shares of the company's stock, valued at approximately $1,960,701.60. The trade was a 8.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,869 shares of company stock valued at $1,284,917 over the last three months. 10.30% of the stock is owned by company insiders.

Veeva Systems Trading Up 19.1%

Shares of VEEV traded up $44.68 during trading hours on Thursday, reaching $279.17. 3,310,344 shares of the company traded hands, compared to its average volume of 1,243,558. The firm has a market cap of $45.42 billion, a price-to-earnings ratio of 68.91, a PEG ratio of 1.89 and a beta of 0.96. Veeva Systems Inc. has a 12-month low of $170.25 and a 12-month high of $285.70. The stock's fifty day moving average price is $228.89 and its 200 day moving average price is $227.27.

Veeva Systems (NYSE:VEEV - Get Free Report) last released its quarterly earnings data on Wednesday, May 28th. The technology company reported $1.97 earnings per share for the quarter, topping analysts' consensus estimates of $1.74 by $0.23. Veeva Systems had a net margin of 25.07% and a return on equity of 13.56%. The company had revenue of $759.04 million during the quarter, compared to analyst estimates of $728.38 million. During the same period in the prior year, the firm earned $1.50 earnings per share. The firm's revenue for the quarter was up 16.7% compared to the same quarter last year. On average, research analysts forecast that Veeva Systems Inc. will post 4.35 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on VEEV shares. Truist Financial boosted their price target on shares of Veeva Systems from $210.00 to $217.00 and gave the stock a "hold" rating in a research report on Thursday, March 6th. Stephens restated an "overweight" rating and issued a $280.00 price target on shares of Veeva Systems in a research report on Thursday, March 6th. KeyCorp reduced their price target on shares of Veeva Systems from $260.00 to $250.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Robert W. Baird boosted their price target on shares of Veeva Systems from $283.00 to $285.00 and gave the stock an "outperform" rating in a research report on Thursday, March 6th. Finally, Wall Street Zen upgraded shares of Veeva Systems from a "hold" rating to a "buy" rating in a research report on Monday, February 17th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $256.12.

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.