Sovran Advisors LLC acquired a new stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,183 shares of the technology company's stock, valued at approximately $255,000.
Other large investors have also recently added to or reduced their stakes in the company. ORG Partners LLC bought a new stake in shares of Veeva Systems in the 1st quarter valued at approximately $26,000. Smithfield Trust Co lifted its stake in 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 acquiring an additional 80 shares during the last quarter. Golden State Wealth Management LLC grew its position in Veeva Systems by 152.9% in the first quarter. Golden State Wealth Management LLC now owns 129 shares of the technology company's stock worth $30,000 after acquiring an additional 78 shares in the last quarter. Promus Capital LLC bought a new stake in Veeva Systems in the fourth quarter worth approximately $36,000. Finally, Itau Unibanco Holding S.A. increased its stake in shares of Veeva Systems by 389.2% during the 4th quarter. Itau Unibanco Holding S.A. now owns 181 shares of the technology company's stock worth $38,000 after purchasing an additional 144 shares during the last quarter. Institutional investors and hedge funds own 88.20% of the company's stock.
Insider Buying and Selling at Veeva Systems
In other Veeva Systems news, insider Thomas D. Schwenger sold 1,200 shares of the stock in a transaction on Monday, April 14th. The stock was sold at an average price of $220.97, for a total transaction of $265,164.00. Following the completion of the transaction, the insider directly owned 25,889 shares in the company, valued at $5,720,692.33. This represents a 4.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Timothy S. Cabral sold 315 shares of the company's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $289.72, for a total transaction of $91,261.80. Following the completion of the sale, the director directly owned 5,500 shares in the company, valued at approximately $1,593,460. The trade was a 5.42% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,397 shares of company stock worth $1,198,160. 10.30% of the stock is owned by insiders.
Veeva Systems Price Performance
Shares of NYSE VEEV traded down $0.69 during trading hours on Wednesday, reaching $282.21. The stock had a trading volume of 1,260,431 shares, compared to its average volume of 1,157,130. The company has a market cap of $46.12 billion, a price-to-earnings ratio of 59.79, a PEG ratio of 2.28 and a beta of 0.98. Veeva Systems Inc. has a twelve month low of $177.41 and a twelve month high of $291.69. The business's fifty day moving average is $258.00 and its two-hundred day moving average is $236.30.
Veeva Systems (NYSE:VEEV - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The technology company reported $1.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.74 by $0.23. The company had revenue of $759.04 million during the quarter, compared to analysts' expectations of $728.38 million. Veeva Systems had a net margin of 27.34% and a return on equity of 13.96%. The business's revenue was up 16.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.50 EPS. Sell-side analysts forecast that Veeva Systems Inc. will post 4.35 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on VEEV. JPMorgan Chase & Co. upped their price objective on shares of Veeva Systems from $218.00 to $249.00 and gave the stock a "neutral" rating in a report on Thursday, March 20th. KeyCorp reduced their price target on Veeva Systems from $260.00 to $250.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Truist Financial increased their price objective on Veeva Systems from $217.00 to $230.00 and gave the company a "hold" rating in a report on Thursday, May 29th. Morgan Stanley raised their price objective on Veeva Systems from $201.00 to $210.00 and gave the company an "underweight" rating in a research note on Thursday, May 29th. Finally, Barclays increased their price target on Veeva Systems from $285.00 to $300.00 and gave the company an "overweight" rating in a 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 given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $269.80.
Get Our Latest Analysis on VEEV
About Veeva Systems
(
Free Report)
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.
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