Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Seilern Investment Management Ltd

Seilern Investment Management Ltd lowered its position in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 7.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 419,758 shares of the technology company's stock after selling 31,880 shares during the period. Veeva Systems comprises approximately 6.4% of Seilern Investment Management Ltd's investment portfolio, making the stock its 7th biggest position. Seilern Investment Management Ltd owned approximately 0.26% of Veeva Systems worth $97,229,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Venturi Wealth Management LLC raised its position in shares of Veeva Systems by 2,716.7% in the fourth quarter. Venturi Wealth Management LLC now owns 169 shares of the technology company's stock worth $36,000 after acquiring an additional 163 shares during the period. Linonia Partnership LP raised its position in shares of Veeva Systems by 42.1% in the fourth quarter. Linonia Partnership LP now owns 1,202,972 shares of the technology company's stock worth $252,925,000 after acquiring an additional 356,300 shares during the period. JPMorgan Chase & Co. raised its position in shares of Veeva Systems by 73.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company's stock worth $536,972,000 after purchasing an additional 1,081,501 shares during the last quarter. VSM Wealth Advisory LLC acquired a new position in shares of Veeva Systems during the 4th quarter worth about $42,000. Finally, Amundi raised its position in shares of Veeva Systems by 9.8% during the 4th quarter. Amundi now owns 459,044 shares of the technology company's stock worth $99,750,000 after purchasing an additional 40,884 shares during the last quarter. Institutional investors and hedge funds own 88.20% of the company's stock.

Veeva Systems Stock Down 1.7%

Shares of Veeva Systems stock traded down $4.86 during mid-day trading on Friday, hitting $285.08. The stock had a trading volume of 2,087,466 shares, compared to its average volume of 1,136,285. The firm has a 50-day moving average of $235.57 and a two-hundred day moving average of $230.21. Veeva Systems Inc. has a 12-month low of $176.41 and a 12-month high of $291.68. The firm has a market cap of $46.38 billion, a P/E ratio of 70.39, a price-to-earnings-growth ratio of 1.89 and a beta of 0.99.

Veeva Systems (NYSE:VEEV - Get Free Report) last posted its quarterly 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 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 analysts' expectations of $728.38 million. During the same quarter in the prior year, the company posted $1.50 EPS. The business's revenue for the quarter was up 16.7% on a year-over-year basis. Sell-side analysts expect that Veeva Systems Inc. will post 4.35 earnings per share for the current year.

Insider Activity

In other news, Director Timothy S. Cabral sold 3,882 shares of the firm's stock in a transaction 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 directly owns 5,500 shares in the company, valued at $1,192,565. This trade represents a 41.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Jonathan Faddis sold 787 shares of the business's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $226.20, for a total value of $178,019.40. Following the completion of the sale, the senior vice president now owns 8,668 shares in the company, valued at $1,960,701.60. This represents a 8.32% decrease in their position. 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 in the last 90 days. Company insiders own 10.30% of the company's stock.

Wall Street Analysts Forecast Growth

VEEV has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their price target on shares of Veeva Systems from $218.00 to $249.00 and gave the stock a "neutral" rating in a research report on Thursday, March 20th. Stephens restated an "overweight" rating and set a $280.00 price target on shares of Veeva Systems in a research report on Thursday, March 6th. Robert W. Baird upped 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. Morgan Stanley upped their price target 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. Finally, KeyCorp reduced their price target on shares of Veeva Systems from $260.00 to $250.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. 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 MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus 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.