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

Yarbrough Capital LLC lowered 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 firm 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 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Centricity Wealth Management LLC purchased a new stake in shares of Veeva Systems in the 4th quarter worth about $25,000. Smithfield Trust Co lifted its holdings in shares of Veeva Systems by 145.5% in 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. Avion Wealth lifted its holdings in shares of Veeva Systems by 635.0% in the fourth quarter. Avion Wealth now owns 147 shares of the technology company's stock valued at $30,000 after purchasing an additional 127 shares in the last quarter. Venturi Wealth Management LLC grew its position in shares of Veeva Systems by 2,716.7% in the fourth quarter. Venturi Wealth Management LLC now owns 169 shares of the technology company's stock valued at $36,000 after purchasing an additional 163 shares during the last quarter. Finally, Promus Capital LLC purchased a new position in shares of Veeva Systems during the 4th quarter worth approximately $36,000. 88.20% of the stock is owned by institutional investors and hedge funds.

Veeva Systems Stock Performance

Shares of VEEV stock traded up $4.63 during trading hours on Wednesday, reaching $288.76. The company had a trading volume of 1,690,501 shares, compared to its average volume of 1,335,705. The company has a market capitalization of $46.98 billion, a P/E ratio of 71.30, a price-to-earnings-growth ratio of 1.89 and a beta of 0.99. Veeva Systems Inc. has a twelve month low of $176.41 and a twelve month high of $291.68. The stock's fifty day simple moving average is $237.95 and its 200 day simple moving average is $231.16.

Veeva Systems (NYSE:VEEV - Get Free Report) last issued 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. The company had revenue of $759.04 million during the quarter, compared to the consensus estimate of $728.38 million. Veeva Systems had a net margin of 25.07% and a return on equity of 13.56%. Veeva Systems's revenue for the quarter was up 16.7% on a year-over-year basis. During the same quarter last year, the company earned $1.50 earnings per share. As a group, equities analysts expect that Veeva Systems Inc. will post 4.35 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Jonathan Faddis sold 787 shares of the business's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total value of $178,019.40. Following the completion of the sale, the senior vice president now directly owns 8,668 shares of the company's stock, valued at $1,960,701.60. The trade was a 8.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Timothy S. Cabral sold 315 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $289.72, for a total value of $91,261.80. Following the transaction, the director now directly owns 5,500 shares in the company, valued at approximately $1,593,460. This represents a 5.42% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,184 shares of company stock worth $1,376,179. 10.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on VEEV shares. UBS Group upped their target price on Veeva Systems from $250.00 to $285.00 and gave the company a "neutral" rating in a research note on Thursday, May 29th. Citigroup upped their price objective on Veeva Systems from $265.00 to $329.00 and gave the company a "buy" rating in a research report on Friday, May 30th. Morgan Stanley lifted their price objective on Veeva Systems from $201.00 to $210.00 and gave the stock an "underweight" rating in a research report on Thursday, May 29th. Stifel Nicolaus upped their target price on shares of Veeva Systems from $272.00 to $295.00 and gave the company a "buy" rating in a report on Thursday, May 29th. Finally, Barclays raised their price target on shares of Veeva Systems from $285.00 to $300.00 and gave the stock an "overweight" rating in a research note on Thursday, May 29th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $269.80.

Veeva Systems Company 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.