Ownership Capital B.V. Sells 208,067 Shares of Veeva Systems Inc. (NYSE:VEEV)

Ownership Capital B.V. trimmed its stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 33.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 423,219 shares of the technology company's stock after selling 208,067 shares during the period. Veeva Systems accounts for about 4.5% of Ownership Capital B.V.'s investment portfolio, making the stock its 13th largest position. Ownership Capital B.V. owned approximately 0.26% of Veeva Systems worth $98,030,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Diversify Wealth Management LLC increased its position in Veeva Systems by 3.1% in the 1st quarter. Diversify Wealth Management LLC now owns 10,824 shares of the technology company's stock worth $2,507,000 after buying an additional 328 shares during the period. Xponance Inc. increased its position in shares of Veeva Systems by 1.3% during the first quarter. Xponance Inc. now owns 29,137 shares of the technology company's stock valued at $6,749,000 after purchasing an additional 383 shares during the period. Cerity Partners LLC increased its position in shares of Veeva Systems by 4.2% during the first quarter. Cerity Partners LLC now owns 78,416 shares of the technology company's stock valued at $18,164,000 after purchasing an additional 3,194 shares during the period. Correct Capital Wealth Management increased its position in shares of Veeva Systems by 19.4% during the first quarter. Correct Capital Wealth Management now owns 2,953 shares of the technology company's stock valued at $684,000 after purchasing an additional 480 shares during the period. Finally, Nisa Investment Advisors LLC increased its position in shares of Veeva Systems by 25.4% during the first quarter. Nisa Investment Advisors LLC now owns 24,238 shares of the technology company's stock valued at $5,614,000 after purchasing an additional 4,914 shares during the period. 88.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

VEEV has been the topic of a number of research reports. Mizuho boosted their price objective on Veeva Systems from $280.00 to $295.00 and gave the company an "outperform" rating in a research report on Monday, June 2nd. Stifel Nicolaus boosted their price objective on Veeva Systems from $272.00 to $295.00 and gave the company a "buy" rating in a research report on Thursday, May 29th. Truist Financial boosted their price objective on Veeva Systems from $217.00 to $230.00 and gave the company a "hold" rating in a research report on Thursday, May 29th. Barclays boosted their price objective on Veeva Systems from $285.00 to $300.00 and gave the company an "overweight" rating in a research report on Thursday, May 29th. Finally, JPMorgan Chase & Co. boosted their price target on Veeva Systems from $218.00 to $249.00 and gave the company a "neutral" rating in a research note on Thursday, March 20th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $271.04.

Veeva Systems Trading Down 2.1%

Shares of VEEV traded down $5.82 during trading hours on Friday, hitting $275.82. 1,660,228 shares of the stock traded hands, compared to its average volume of 1,169,879. Veeva Systems Inc. has a 1-year low of $177.41 and a 1-year high of $291.69. The firm has a market capitalization of $45.07 billion, a PE ratio of 58.44, a price-to-earnings-growth ratio of 2.23 and a beta of 0.98. The business has a fifty day moving average of $265.32 and a 200-day moving average of $238.97.

Veeva Systems (NYSE:VEEV - Get Free Report) last released its earnings results on Wednesday, May 28th. The technology company reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.23. Veeva Systems had a return on equity of 13.96% and a net margin of 27.34%. The firm had revenue of $759.04 million for the quarter, compared to analyst estimates of $728.38 million. During the same quarter in the prior year, the firm posted $1.50 earnings per share. The company's quarterly revenue was up 16.7% on a year-over-year basis. As a group, equities research analysts expect that Veeva Systems Inc. will post 4.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Veeva Systems news, Director Priscilla Hung sold 172 shares of the stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $283.00, for a total value of $48,676.00. Following the transaction, the director owned 4,137 shares of the company's stock, valued at approximately $1,170,771. This represents a 3.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Thomas D. Schwenger sold 1,200 shares of the firm'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 sale, the insider directly owned 25,889 shares in the company, valued at approximately $5,720,692.33. This represents a 4.43% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,578 shares of company stock worth $659,381. Corporate insiders own 10.30% of the company's stock.

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.