Veeva Systems Inc. (NYSE:VEEV) Stock Holdings Decreased by Lbp Am Sa

LBP AM SA lessened its holdings in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 11.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,581 shares of the technology company's stock after selling 5,540 shares during the quarter. LBP AM SA's holdings in Veeva Systems were worth $10,326,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Sowell Financial Services LLC bought a new stake in shares of Veeva Systems during the 1st quarter worth $274,000. GAMMA Investing LLC lifted its position in Veeva Systems by 13.8% in the first quarter. GAMMA Investing LLC now owns 1,823 shares of the technology company's stock valued at $422,000 after purchasing an additional 221 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in Veeva Systems in the first quarter valued at approximately $5,876,000. Amalgamated Bank boosted its stake in shares of Veeva Systems by 5.0% during the 1st quarter. Amalgamated Bank now owns 10,949 shares of the technology company's stock valued at $2,536,000 after purchasing an additional 520 shares in the last quarter. Finally, Spire Wealth Management grew its holdings in shares of Veeva Systems by 37.1% during the 1st quarter. Spire Wealth Management now owns 277 shares of the technology company's stock worth $64,000 after acquiring an additional 75 shares during the period. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

VEEV has been the topic of a number of recent research reports. KeyCorp cut their target price on Veeva Systems from $260.00 to $250.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. UBS Group increased their price target on Veeva Systems from $250.00 to $285.00 and gave the company a "neutral" rating in a report on Thursday, May 29th. Wall Street Zen upgraded shares of Veeva Systems from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. Barclays raised their price objective on Veeva Systems from $285.00 to $300.00 and gave the stock an "overweight" rating in a research note on Thursday, May 29th. Finally, Stifel Nicolaus upped their price target on shares of Veeva Systems from $272.00 to $295.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat.com, Veeva Systems presently has a consensus rating of "Moderate Buy" and a consensus target price of $271.04.

Veeva Systems Trading Down 0.8%

NYSE VEEV traded down $2.16 during trading hours on Thursday, reaching $282.20. The company had a trading volume of 1,131,991 shares, compared to its average volume of 1,166,894. The stock has a 50-day moving average of $264.32 and a 200 day moving average of $238.57. Veeva Systems Inc. has a 1-year low of $177.41 and a 1-year high of $291.69. The stock has a market capitalization of $46.11 billion, a P/E ratio of 59.79, a price-to-earnings-growth ratio of 2.22 and a beta of 0.98.

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

Insider Activity

In related news, Director Priscilla Hung sold 172 shares of the business's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $283.00, for a total transaction of $48,676.00. Following the transaction, the director directly owned 4,137 shares of the company's stock, valued at approximately $1,170,771. The trade was a 3.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Thomas D. Schwenger sold 1,200 shares of the business's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $220.97, for a total value of $265,164.00. Following the transaction, the insider directly owned 25,889 shares in the company, valued at $5,720,692.33. This trade represents a 4.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,858 shares of company stock worth $453,734 over the last 90 days. 10.30% of the stock is currently owned by corporate insiders.

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.