Paragon Advisors LLC Lowers Holdings in Veeva Systems Inc. (NYSE:VEEV)

Paragon Advisors LLC decreased its stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 13.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,929 shares of the technology company's stock after selling 1,816 shares during the period. Veeva Systems accounts for about 1.0% of Paragon Advisors LLC's holdings, making the stock its 29th biggest position. Paragon Advisors LLC's holdings in Veeva Systems were worth $2,763,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Cardinal Capital Management boosted its holdings in Veeva Systems by 0.3% in the 4th 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 during the period. Johnson Financial Group Inc. boosted 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 acquiring an additional 44 shares during the period. Colonial Trust Co SC boosted its holdings in shares of Veeva Systems by 30.3% in the fourth quarter. Colonial Trust Co SC now owns 241 shares of the technology company's stock worth $51,000 after acquiring an additional 56 shares during the period. Twin City Private Wealth LLC grew its position in shares of Veeva Systems by 2.9% in 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. Finally, CoreCap Advisors LLC lifted its holdings in Veeva Systems by 31.7% during the 4th quarter. CoreCap Advisors LLC now owns 249 shares of the technology company's stock worth $52,000 after purchasing an additional 60 shares in the last quarter. Institutional investors own 88.20% of the company's stock.

Veeva Systems Stock Up 0.2%

Shares of Veeva Systems stock traded up $0.63 on Tuesday, hitting $283.96. The stock had a trading volume of 1,069,473 shares, compared to its average volume of 1,138,452. Veeva Systems Inc. has a one year low of $176.41 and a one year high of $291.68. The stock's 50-day simple moving average is $236.70 and its two-hundred day simple moving average is $230.79. The stock has a market cap of $46.20 billion, a price-to-earnings ratio of 70.11, a PEG ratio of 1.89 and a beta of 0.99.

Veeva Systems (NYSE:VEEV - Get Free Report) last announced its quarterly 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 for the quarter, compared to analyst estimates of $728.38 million. Veeva Systems had a net margin of 25.07% and a return on equity of 13.56%. The company's revenue was up 16.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.50 EPS. As a group, equities analysts predict that Veeva Systems Inc. will post 4.35 EPS for the current fiscal year.

Insider Activity

In other news, Director Timothy S. Cabral sold 315 shares of the business's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $289.72, for a total transaction of $91,261.80. Following the sale, the director now owns 5,500 shares in the company, valued at approximately $1,593,460. The trade was a 5.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Jonathan Faddis sold 787 shares of Veeva Systems 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 transaction, the senior vice president now directly owns 8,668 shares of the company's stock, valued at approximately $1,960,701.60. This trade represents a 8.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,184 shares of company stock valued at $1,376,179. Company insiders own 10.30% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on VEEV. Stephens reaffirmed an "overweight" rating and set a $280.00 target price on shares of Veeva Systems in a report on Thursday, March 6th. Robert W. Baird boosted their price objective on shares of Veeva Systems from $283.00 to $285.00 and gave the company an "outperform" rating in a research note on Thursday, March 6th. Mizuho upped their target price on shares of Veeva Systems from $280.00 to $295.00 and gave the stock an "outperform" rating in a report on Monday, June 2nd. Piper Sandler increased their target price on shares of Veeva Systems from $255.00 to $325.00 and gave the stock an "overweight" rating in a research note on Thursday, May 29th. Finally, Barclays boosted their price target on shares of Veeva Systems from $285.00 to $300.00 and gave the company an "overweight" rating in a research report on Thursday, May 29th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $269.80.

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.