Lbp Am Sa Sells 5,540 Shares of Veeva Systems Inc. (NYSE:VEEV)

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

A number of other institutional investors have also added to or reduced their stakes in the company. Abound Financial LLC acquired a new stake in Veeva Systems during the 1st quarter valued at approximately $25,000. ORG Partners LLC acquired a new stake in Veeva Systems during the 1st quarter valued at approximately $26,000. Golden State Wealth Management LLC increased its position in Veeva Systems by 152.9% during the 1st quarter. Golden State Wealth Management LLC now owns 129 shares of the technology company's stock valued at $30,000 after purchasing an additional 78 shares during the period. Wayfinding Financial LLC acquired a new stake in Veeva Systems during the 1st quarter valued at approximately $32,000. Finally, Itau Unibanco Holding S.A. increased its position in Veeva Systems by 389.2% during the 4th quarter. Itau Unibanco Holding S.A. now owns 181 shares of the technology company's stock valued at $38,000 after purchasing an additional 144 shares during the period. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Veeva Systems Stock Down 2.6%

NYSE VEEV traded down $7.27 during trading on Friday, hitting $274.37. The company's stock had a trading volume of 966,092 shares, compared to its average volume of 1,166,154. The firm has a 50 day moving average price of $265.32 and a 200 day moving average price of $238.97. The firm has a market cap of $44.83 billion, a P/E ratio of 58.13, a price-to-earnings-growth ratio of 2.25 and a beta of 0.98. Veeva Systems Inc. has a 52 week low of $177.41 and a 52 week high of $291.69.

Veeva Systems (NYSE:VEEV - Get Free Report) last announced its earnings results on Wednesday, May 28th. The technology company reported $1.97 EPS for the quarter, topping the consensus estimate of $1.74 by $0.23. Veeva Systems had a return on equity of 13.96% and a net margin of 27.34%. The company had revenue of $759.04 million for the quarter, compared to analysts' expectations of $728.38 million. During the same quarter in the prior year, the business earned $1.50 earnings per share. The business's revenue for the quarter was up 16.7% on a year-over-year basis. On average, equities analysts expect that Veeva Systems Inc. will post 4.35 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Wells Fargo & Company increased their target price on Veeva Systems from $285.00 to $300.00 and gave the stock an "overweight" rating in a report on Thursday, May 29th. UBS Group raised their price objective on shares of Veeva Systems from $250.00 to $285.00 and gave the stock a "neutral" rating in a report on Thursday, May 29th. Citigroup lifted their price objective on Veeva Systems from $265.00 to $329.00 and gave the stock a "buy" rating in a report on Friday, May 30th. Morgan Stanley lifted their target price on Veeva Systems from $201.00 to $210.00 and gave the company an "underweight" rating in a report on Thursday, May 29th. Finally, Mizuho lifted their target price on Veeva Systems from $280.00 to $295.00 and gave the company an "outperform" rating in a report on Monday, June 2nd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $271.04.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, 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 value of $91,261.80. Following the completion of the transaction, the director owned 5,500 shares of the company's stock, valued at $1,593,460. This represents a 5.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Priscilla Hung sold 172 shares of the company's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $283.00, for a total value of $48,676.00. Following the completion of the sale, the director owned 4,137 shares in the company, valued at $1,170,771. This trade represents a 3.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,858 shares of company stock valued at $453,734 in the last three months. Corporate insiders own 10.30% of the company's stock.

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.