Veeva Systems Inc. $VEEV Shares Sold by Sienna Gestion

Key Points

• Sienna Gestion has reduced its stake in Veeva Systems Inc. by 6.1%, now holding 17,558 shares valued at approximately $3.95 million.
• Veeva Systems reported earnings of $1.97 EPS for the last quarter, surpassing analysts' expectations, and has seen a year-over-year revenue increase of 16.7%.
• Institutional investors and hedge funds own 88.20% of Veeva Systems' stock, highlighting strong institutional interest in the company.

Sienna Gestion decreased its position in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 6.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,558 shares of the technology company's stock after selling 1,146 shares during the period. Sienna Gestion's holdings in Veeva Systems were worth $3,953,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of VEEV. Abound Financial LLC acquired a new position in shares of Veeva Systems during the first quarter worth $25,000. ORG Partners LLC acquired a new position in shares of Veeva Systems during the first quarter worth $26,000. Golden State Wealth Management LLC increased its position in shares of Veeva Systems by 152.9% during the first quarter. Golden State Wealth Management LLC now owns 129 shares of the technology company's stock worth $30,000 after purchasing an additional 78 shares in the last quarter. Wayfinding Financial LLC acquired a new position in shares of Veeva Systems during the first quarter worth $32,000. Finally, Key Financial Inc increased its position in shares of Veeva Systems by 161.0% during the first quarter. Key Financial Inc now owns 154 shares of the technology company's stock worth $36,000 after purchasing an additional 95 shares in the last quarter. Hedge funds and other institutional investors own 88.20% of the company's stock.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 720 shares of the company's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $285.62, for a total value of $205,646.40. Following the sale, the senior vice president owned 7,902 shares of the company's stock, valued at $2,256,969.24. This represents a 8.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Timothy S. Cabral sold 315 shares of the company's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $289.72, for a total transaction of $91,261.80. Following the completion of the sale, the director directly owned 5,500 shares in the company, valued at $1,593,460. This trade represents a 5.42% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,378 shares of company stock worth $394,217. 10.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Citigroup upped their price target on Veeva Systems from $265.00 to $329.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Truist Financial upped their target price on Veeva Systems from $217.00 to $230.00 and gave the company a "hold" rating in a research report on Thursday, May 29th. Stifel Nicolaus upped their target price on Veeva Systems from $272.00 to $295.00 and gave the company a "buy" rating in a research report on Thursday, May 29th. Piper Sandler upped their target price on Veeva Systems from $255.00 to $325.00 and gave the company an "overweight" rating in a research report on Thursday, May 29th. Finally, Mizuho upped their target price on Veeva Systems from $280.00 to $295.00 and gave the company an "outperform" rating in a research report on Monday, June 2nd. Fourteen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $274.17.

Veeva Systems Trading Up 0.2%

VEEV stock traded up $0.65 during mid-day trading on Tuesday, reaching $282.75. The company's stock had a trading volume of 643,387 shares, compared to its average volume of 1,300,624. The stock has a market cap of $46.20 billion, a PE ratio of 59.90, a P/E/G ratio of 2.22 and a beta of 0.95. Veeva Systems Inc. has a fifty-two week low of $192.73 and a fifty-two week high of $296.72. The company's 50 day moving average is $282.25 and its two-hundred day moving average is $251.31.

Veeva Systems (NYSE:VEEV - Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The technology company reported $1.97 earnings per share (EPS) for the quarter, topping 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 business had revenue of $759.04 million during the quarter, compared to the consensus estimate of $728.38 million. During the same quarter last year, the firm earned $1.50 EPS. The business's revenue was up 16.7% compared to the same quarter last year. On average, analysts forecast that Veeva Systems Inc. will post 4.35 earnings per share 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.