Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Yarbrough Capital LLC

Yarbrough Capital LLC cut its holdings in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 38.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,048 shares of the technology company's stock after selling 7,396 shares during the quarter. Yarbrough Capital LLC's holdings in Veeva Systems were worth $2,791,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Centricity Wealth Management LLC purchased a new position in Veeva Systems during the fourth quarter worth $25,000. Smithfield Trust Co lifted its position in shares of Veeva Systems by 145.5% during the fourth quarter. Smithfield Trust Co now owns 135 shares of the technology company's stock worth $27,000 after purchasing an additional 80 shares during the last quarter. Avion Wealth lifted its position in shares of Veeva Systems by 635.0% during the fourth quarter. Avion Wealth now owns 147 shares of the technology company's stock worth $30,000 after purchasing an additional 127 shares during the last quarter. Venturi Wealth Management LLC lifted its position in shares of Veeva Systems by 2,716.7% during the fourth quarter. Venturi Wealth Management LLC now owns 169 shares of the technology company's stock worth $36,000 after purchasing an additional 163 shares during the last quarter. Finally, Promus Capital LLC bought a new stake in shares of Veeva Systems during the fourth quarter worth $36,000. 88.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Veeva Systems

In other news, Director Timothy S. Cabral sold 3,882 shares of the company's 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 owns 5,500 shares in the company, valued at $1,192,565. This represents a 41.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Jonathan Faddis sold 787 shares of the company'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 transaction, the senior vice president now owns 8,668 shares in the company, valued at approximately $1,960,701.60. This trade represents a 8.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,869 shares of company stock worth $1,284,917 over the last quarter. Insiders own 10.30% of the company's stock.

Veeva Systems Stock Performance

VEEV traded down $4.86 on Friday, hitting $285.08. The company had a trading volume of 2,087,466 shares, compared to its average volume of 1,136,285. The stock has a fifty day moving average price of $235.57 and a 200-day moving average price of $230.21. Veeva Systems Inc. has a 12-month low of $176.41 and a 12-month high of $291.68. The stock has a market capitalization of $46.38 billion, a price-to-earnings ratio of 70.39, a P/E/G ratio of 1.89 and a beta of 0.99.

Veeva Systems (NYSE:VEEV - Get Free Report) last posted its earnings results 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 return on equity of 13.56% and a net margin of 25.07%. The company had revenue of $759.04 million for the quarter, compared to analyst estimates of $728.38 million. During the same quarter in the previous year, the firm earned $1.50 earnings per share. The firm's quarterly revenue was up 16.7% compared to the same quarter last year. Analysts forecast that Veeva Systems Inc. will post 4.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

VEEV has been the subject of several research analyst reports. Scotiabank lifted their target price on Veeva Systems from $240.00 to $245.00 and gave the stock a "sector perform" rating in a research report on Thursday, March 6th. Needham & Company LLC lifted their target price on Veeva Systems from $270.00 to $300.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. Truist Financial lifted their target price on Veeva Systems from $217.00 to $230.00 and gave the stock a "hold" rating in a research report on Thursday, May 29th. JPMorgan Chase & Co. lifted their target price on Veeva Systems from $218.00 to $249.00 and gave the stock a "neutral" rating in a research report on Thursday, March 20th. Finally, UBS Group lifted their target price on Veeva Systems from $250.00 to $285.00 and gave the stock a "neutral" rating in a research report on Thursday, May 29th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus 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.