Brown Advisory Inc. Has $119.27 Million Position in Veeva Systems Inc. (NYSE:VEEV)

Brown Advisory Inc. lessened its holdings in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 28.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 514,929 shares of the technology company's stock after selling 203,935 shares during the period. Brown Advisory Inc. owned 0.32% of Veeva Systems worth $119,273,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of VEEV. Leigh Baldwin & CO. LLC acquired a new position in shares of Veeva Systems in the 4th quarter worth approximately $685,355,000. Norges Bank acquired a new stake in Veeva Systems during the 4th quarter worth $294,785,000. Wealthfront Advisers LLC raised its stake in Veeva Systems by 29,760.5% during the 4th quarter. Wealthfront Advisers LLC now owns 1,048,700 shares of the technology company's stock worth $220,489,000 after acquiring an additional 1,045,188 shares in the last quarter. Stockbridge Partners LLC purchased a new position in Veeva Systems during the 4th quarter worth $137,260,000. Finally, Marshall Wace LLP grew its position in Veeva Systems by 413.3% during the 4th quarter. Marshall Wace LLP now owns 638,380 shares of the technology company's stock worth $134,219,000 after purchasing an additional 514,004 shares during the last quarter. Hedge funds and other institutional investors own 88.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on VEEV. Raymond James Financial lifted their target price on shares of Veeva Systems from $285.00 to $310.00 and gave the company an "outperform" rating in a report on Thursday, May 29th. Mizuho lifted their target price on shares of Veeva Systems from $280.00 to $295.00 and gave the stock an "outperform" rating in a research report on Monday, June 2nd. Piper Sandler lifted their target price on shares of Veeva Systems from $255.00 to $325.00 and gave the stock an "overweight" rating in a research report on Thursday, May 29th. Wells Fargo & Company lifted their target price on shares of Veeva Systems from $285.00 to $300.00 and gave the stock an "overweight" rating in a research report on Thursday, May 29th. Finally, Citigroup boosted their price objective on shares of Veeva Systems from $265.00 to $329.00 and gave the company a "buy" rating in a research report on Friday, May 30th. 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $269.80.

Insider Activity at Veeva Systems

In other Veeva Systems news, Director Priscilla Hung sold 172 shares of the 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 owned 4,137 shares in the company, valued at $1,170,771. This trade represents a 3.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Timothy S. Cabral sold 315 shares of Veeva Systems stock in a transaction on Friday, June 6th. The stock was sold at an average price of $289.72, for a total transaction of $91,261.80. Following the sale, the director owned 5,500 shares in the company, valued at $1,593,460. This represents a 5.42% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,858 shares of company stock valued at $453,734. 10.30% of the stock is currently owned by corporate insiders.

Veeva Systems Stock Performance

Shares of NYSE:VEEV traded down $0.52 during trading hours on Tuesday, hitting $280.48. 1,938,946 shares of the company's stock traded hands, compared to its average volume of 1,164,351. Veeva Systems Inc. has a 52 week low of $177.41 and a 52 week high of $291.69. The company's fifty day simple moving average is $262.33 and its two-hundred day simple moving average is $237.96. The company has a market cap of $45.83 billion, a price-to-earnings ratio of 59.42, a price-to-earnings-growth ratio of 2.25 and a beta of 0.98.

Veeva Systems (NYSE:VEEV - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The technology company reported $1.97 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $728.38 million. During the same period in the prior year, the firm earned $1.50 earnings per share. The business's quarterly revenue was up 16.7% on a year-over-year basis. On average, analysts anticipate that Veeva Systems Inc. will post 4.35 EPS for the current fiscal year.

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.