Veeva Systems Inc. (NYSE:VEEV) Shares Purchased by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC lifted its stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 9.7% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,393 shares of the technology company's stock after buying an additional 1,717 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Veeva Systems were worth $4,492,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. ORG Partners LLC purchased a new position in shares of Veeva Systems in the first quarter worth $26,000. Smithfield Trust Co raised its stake in Veeva Systems by 145.5% during the fourth quarter. Smithfield Trust Co now owns 135 shares of the technology company's stock valued at $27,000 after purchasing an additional 80 shares in the last quarter. Golden State Wealth Management LLC raised its stake in Veeva Systems by 152.9% during the first 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 in the last quarter. Promus Capital LLC purchased a new stake in Veeva Systems during the fourth quarter valued at $36,000. Finally, Itau Unibanco Holding S.A. raised its stake in Veeva Systems by 389.2% during the fourth 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 in the last quarter. Hedge funds and other institutional investors own 88.20% of the company's stock.

Insiders Place Their Bets

In other Veeva Systems news, Director Timothy S. Cabral sold 3,882 shares of the stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $216.83, for a total transaction of $841,734.06. Following the transaction, the director now directly owns 5,500 shares in the company, valued at $1,192,565. This represents a 41.38% 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, SVP Jonathan Faddis sold 787 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $226.20, for a total transaction 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 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 three months. Corporate insiders own 10.30% of the company's stock.

Veeva Systems Stock Up 0.6%

VEEV stock traded up $1.70 during trading on Friday, hitting $282.89. The company had a trading volume of 1,780,158 shares, compared to its average volume of 1,154,165. The firm has a market capitalization of $46.23 billion, a P/E ratio of 59.93, a PEG ratio of 2.21 and a beta of 0.99. Veeva Systems Inc. has a 52-week low of $177.41 and a 52-week high of $291.69. The company has a 50 day simple moving average of $255.10 and a 200-day simple moving average of $235.54.

Veeva Systems (NYSE:VEEV - Get Free Report) last posted its quarterly 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 net margin of 27.34% and a return on equity of 13.96%. The company had revenue of $759.04 million for the quarter, compared to the consensus estimate of $728.38 million. During the same quarter last year, the firm posted $1.50 EPS. The firm's revenue was up 16.7% compared to the same quarter last year. Sell-side analysts forecast that Veeva Systems Inc. will post 4.35 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on VEEV shares. Morgan Stanley upped their price target on shares of Veeva Systems from $201.00 to $210.00 and gave the company an "underweight" rating in a research note on Thursday, May 29th. Barclays 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 note on Thursday, May 29th. Stifel Nicolaus upped their price target on shares of Veeva Systems from $272.00 to $295.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Robert W. Baird lifted their target price on Veeva Systems from $283.00 to $285.00 and gave the stock an "outperform" rating in a report on Thursday, March 6th. Finally, Piper Sandler lifted their target price on Veeva Systems from $255.00 to $325.00 and gave the stock an "overweight" rating in a report on Thursday, May 29th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average 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.