Paragon Advisors LLC Sells 1,816 Shares of Veeva Systems Inc. (NYSE:VEEV)

Paragon Advisors LLC lessened its position in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 13.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,929 shares of the technology company's stock after selling 1,816 shares during the period. Veeva Systems comprises 1.0% of Paragon Advisors LLC's portfolio, making the stock its 29th largest holding. Paragon Advisors LLC's holdings in Veeva Systems were worth $2,763,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. grew its stake in shares of Veeva Systems by 3.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,169,698 shares of the technology company's stock worth $1,086,930,000 after acquiring an additional 177,201 shares during the period. Leigh Baldwin & CO. LLC purchased a new stake in Veeva Systems in the fourth quarter worth approximately $685,355,000. FMR LLC grew its position in Veeva Systems by 7.8% in the 4th quarter. FMR LLC now owns 3,213,360 shares of the technology company's stock worth $675,609,000 after purchasing an additional 232,116 shares during the period. JPMorgan Chase & Co. raised its stake in Veeva Systems by 17.5% during the 4th quarter. JPMorgan Chase & Co. now owns 3,005,633 shares of the technology company's stock valued at $631,935,000 after buying an additional 447,041 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in Veeva Systems by 36.0% during the 4th quarter. Principal Financial Group Inc. now owns 2,964,025 shares of the technology company's stock valued at $623,186,000 after buying an additional 784,741 shares during the last quarter. Institutional investors own 88.20% of the company's stock.

Insiders Place Their Bets

In other news, SVP Jonathan Faddis sold 787 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The stock was 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 $1,960,701.60. This represents a 8.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Timothy S. Cabral sold 3,882 shares of the firm's stock in a transaction on 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 transaction, the director now directly owns 5,500 shares of the company's stock, valued at approximately $1,192,565. This trade represents a 41.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,184 shares of company stock worth $1,376,179 in the last 90 days. 10.30% of the stock is currently owned by corporate insiders.

Veeva Systems Trading Down 0.1%

VEEV traded down $0.34 on Friday, hitting $281.82. 1,268,625 shares of the company's stock traded hands, compared to its average volume of 1,144,866. Veeva Systems Inc. has a one year low of $176.41 and a one year high of $291.69. The firm has a market cap of $45.85 billion, a price-to-earnings ratio of 69.59, a P/E/G ratio of 1.89 and a beta of 0.99. The company's 50 day simple moving average is $240.79 and its 200-day simple moving average is $231.94.

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 (EPS) for the quarter, beating 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 firm had revenue of $759.04 million for the quarter, compared to analysts' expectations of $728.38 million. During the same quarter last year, the business posted $1.50 earnings per share. The company's revenue for the quarter was up 16.7% compared to the same quarter last year. As a group, equities analysts anticipate that Veeva Systems Inc. will post 4.35 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on VEEV shares. Morgan Stanley lifted their price objective on Veeva Systems from $201.00 to $210.00 and gave the stock an "underweight" rating in a report on Thursday, May 29th. Needham & Company LLC boosted their price target on Veeva Systems from $270.00 to $300.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Wells Fargo & Company upped 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. Wall Street Zen raised shares of Veeva Systems from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Finally, Raymond James boosted their target price on shares of Veeva Systems from $285.00 to $310.00 and gave the company an "outperform" rating in a research report on Thursday, May 29th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $269.80.

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.