Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Sava Infond d.o.o.

Sava Infond d.o.o. decreased its stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 20.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,070 shares of the technology company's stock after selling 1,040 shares during the period. Sava Infond d.o.o.'s holdings in Veeva Systems were worth $943,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Leigh Baldwin & CO. LLC acquired a new position in Veeva Systems during the fourth quarter worth about $685,355,000. Norges Bank acquired a new position in Veeva Systems during the fourth quarter worth about $294,785,000. Wealthfront Advisers LLC raised its position in Veeva Systems by 29,760.5% during the fourth 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 during the last quarter. Stockbridge Partners LLC acquired a new position in Veeva Systems during the fourth quarter worth about $137,260,000. Finally, Marshall Wace LLP raised its position in Veeva Systems by 413.3% during the fourth quarter. Marshall Wace LLP now owns 638,380 shares of the technology company's stock worth $134,219,000 after acquiring an additional 514,004 shares during the last quarter. Institutional investors and hedge funds own 88.20% of the company's stock.

Veeva Systems Stock Down 0.0%

Shares of NYSE VEEV opened at $279.97 on Tuesday. Veeva Systems Inc. has a 52-week low of $177.41 and a 52-week high of $291.69. The firm has a fifty day moving average of $250.09 and a 200-day moving average of $234.39. The stock has a market capitalization of $45.75 billion, a PE ratio of 59.32, a P/E/G ratio of 2.20 and a beta of 0.99.

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 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 during the quarter, compared to analysts' expectations of $728.38 million. During the same period in the previous year, the company earned $1.50 EPS. The business's quarterly revenue was up 16.7% compared to the same quarter last year. Equities research analysts expect that Veeva Systems Inc. will post 4.35 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Thomas D. Schwenger sold 1,200 shares of the company's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $220.97, for a total transaction of $265,164.00. Following the completion of the sale, the insider now directly owns 25,889 shares of the company's stock, valued at approximately $5,720,692.33. This represents a 4.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jonathan Faddis sold 787 shares of the company's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total transaction of $178,019.40. Following the sale, the senior vice president now directly owns 8,668 shares of the company's stock, valued at approximately $1,960,701.60. This trade represents a 8.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 6,184 shares of company stock valued at $1,376,179. Company insiders own 10.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on VEEV. Citigroup lifted their target price on shares of Veeva Systems from $265.00 to $329.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Stifel Nicolaus lifted their target price 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. Robert W. Baird lifted their price target on shares of Veeva Systems from $283.00 to $285.00 and gave the stock an "outperform" rating in a report on Thursday, March 6th. Mizuho boosted their price objective on shares of Veeva Systems from $280.00 to $295.00 and gave the company an "outperform" rating in a research report on Monday, June 2nd. Finally, Truist Financial upped their price objective on shares of Veeva Systems from $217.00 to $230.00 and gave the company a "hold" rating in a research note on Thursday, May 29th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $269.80.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.