Mn Services Vermogensbeheer B.V. Sells 4,300 Shares of Veeva Systems Inc. (NYSE:VEEV)

Mn Services Vermogensbeheer B.V. cut its position in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 7.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,300 shares of the technology company's stock after selling 4,300 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in Veeva Systems were worth $12,809,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Centricity Wealth Management LLC bought a new position in Veeva Systems in the 4th quarter valued at about $25,000. Smithfield Trust Co boosted its stake in shares of Veeva Systems by 145.5% in the fourth quarter. Smithfield Trust Co now owns 135 shares of the technology company's stock valued at $27,000 after buying an additional 80 shares during the period. Venturi Wealth Management LLC lifted its position in shares of Veeva Systems by 2,716.7% during the 4th quarter. Venturi Wealth Management LLC now owns 169 shares of the technology company's stock valued at $36,000 after acquiring an additional 163 shares during the period. Promus Capital LLC acquired a new stake in Veeva Systems during the fourth quarter worth about $36,000. Finally, Itau Unibanco Holding S.A. increased its stake in Veeva Systems by 389.2% in the fourth quarter. Itau Unibanco Holding S.A. now owns 181 shares of the technology company's stock valued at $38,000 after acquiring an additional 144 shares during the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

VEEV has been the subject of several research reports. Barclays increased their price objective on shares of Veeva Systems from $285.00 to $300.00 and gave the company an "overweight" rating in a research note on Thursday, May 29th. Raymond James raised their price objective on Veeva Systems from $285.00 to $310.00 and gave the company an "outperform" rating in a report on Thursday, May 29th. Citigroup upped their target price on Veeva Systems from $265.00 to $329.00 and gave the stock a "buy" rating in a report on Friday, May 30th. Mizuho increased their target price on Veeva Systems from $280.00 to $295.00 and gave the company an "outperform" rating in a research report on Monday, June 2nd. Finally, Morgan Stanley lifted their target price on shares of Veeva Systems from $201.00 to $210.00 and gave the stock an "underweight" rating in a research report on Thursday, May 29th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat, Veeva Systems has a consensus rating of "Moderate Buy" and a consensus price target of $269.80.

Insider Buying and Selling at Veeva Systems

In related news, Director Timothy S. Cabral sold 3,882 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $216.83, for a total transaction of $841,734.06. Following the completion of the transaction, the director now owns 5,500 shares of the company's stock, valued at $1,192,565. This trade represents a 41.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Thomas D. Schwenger sold 1,200 shares of the stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $220.97, for a total transaction of $265,164.00. Following the sale, the insider now directly owns 25,889 shares in the company, valued at $5,720,692.33. This trade represents a 4.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,184 shares of company stock valued at $1,376,179. 10.30% of the stock is currently owned by company insiders.

Veeva Systems Trading Up 0.6%

NYSE VEEV traded up $1.69 on Monday, hitting $284.24. The company's stock had a trading volume of 987,356 shares, compared to its average volume of 1,145,966. The firm has a market cap of $46.45 billion, a P/E ratio of 70.18, a PEG ratio of 1.89 and a beta of 0.99. Veeva Systems Inc. has a 52-week low of $176.41 and a 52-week high of $291.69. The company's 50-day simple moving average is $242.24 and its 200 day simple moving average is $232.39.

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