Raymond James & Associates Sells 23,419 Shares of Veeva Systems Inc. (NYSE:VEEV)

Raymond James & Associates trimmed its holdings in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 27.1% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 63,104 shares of the technology company's stock after selling 23,419 shares during the period. Raymond James & Associates' holdings in Veeva Systems were worth $12,149,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Rise Advisors LLC boosted its position in shares of Veeva Systems by 424.0% during the third quarter. Rise Advisors LLC now owns 131 shares of the technology company's stock worth $27,000 after buying an additional 106 shares during the period. OFI Invest Asset Management purchased a new position in shares of Veeva Systems during the third quarter worth $25,000. Operose Advisors LLC purchased a new position in shares of Veeva Systems during the third quarter worth $29,000. Parkside Financial Bank & Trust boosted its position in shares of Veeva Systems by 81.9% during the third quarter. Parkside Financial Bank & Trust now owns 171 shares of the technology company's stock worth $35,000 after buying an additional 77 shares during the period. Finally, Atticus Wealth Management LLC boosted its position in shares of Veeva Systems by 500.0% during the third quarter. Atticus Wealth Management LLC now owns 180 shares of the technology company's stock worth $37,000 after buying an additional 150 shares during the period. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Veeva Systems Stock Performance

VEEV traded down $0.13 during trading on Friday, reaching $214.61. The company's stock had a trading volume of 890,762 shares, compared to its average volume of 976,419. Veeva Systems Inc. has a 52-week low of $160.21 and a 52-week high of $236.90. The company's fifty day moving average price is $221.93 and its 200-day moving average price is $202.61. The company has a market capitalization of $34.62 billion, a price-to-earnings ratio of 66.69, a price-to-earnings-growth ratio of 2.19 and a beta of 0.74.

Veeva Systems (NYSE:VEEV - Get Free Report) last announced its quarterly earnings data on Thursday, February 29th. The technology company reported $0.92 earnings per share for the quarter, beating analysts' consensus estimates of $0.81 by $0.11. The company had revenue of $630.62 million for the quarter, compared to analyst estimates of $620.75 million. Veeva Systems had a return on equity of 11.26% and a net margin of 22.24%. Equities analysts predict that Veeva Systems Inc. will post 4.11 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on VEEV. Royal Bank of Canada reiterated an "outperform" rating and issued a $250.00 price objective on shares of Veeva Systems in a research note on Wednesday, March 27th. Canaccord Genuity Group reduced their price objective on Veeva Systems from $210.00 to $185.00 and set a "hold" rating on the stock in a research note on Thursday, December 7th. Truist Financial increased their price objective on Veeva Systems from $187.00 to $203.00 and gave the company a "hold" rating in a research note on Friday, March 1st. JPMorgan Chase & Co. increased their price objective on Veeva Systems from $183.00 to $222.00 and gave the company a "neutral" rating in a research note on Wednesday, March 13th. Finally, StockNews.com upgraded Veeva Systems from a "hold" rating to a "buy" rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, Veeva Systems currently has a consensus rating of "Moderate Buy" and an average target price of $234.90.

Insider Transactions at Veeva Systems

In other news, EVP Alan Mateo sold 910 shares of the business's stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $204.72, for a total transaction of $186,295.20. Following the sale, the executive vice president now owns 21,983 shares of the company's stock, valued at approximately $4,500,359.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Alan Mateo sold 910 shares of Veeva Systems stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $204.72, for a total transaction of $186,295.20. Following the completion of the transaction, the executive vice president now directly owns 21,983 shares in the company, valued at approximately $4,500,359.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Eleni Nitsa Zuppas sold 4,350 shares of Veeva Systems stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $192.61, for a total value of $837,853.50. Following the transaction, the chief marketing officer now owns 19,057 shares of the company's stock, valued at $3,670,568.77. The disclosure for this sale can be found here. Insiders have sold 24,498 shares of company stock valued at $5,289,003 in the last quarter. 10.98% of the stock is currently owned by corporate insiders.

About Veeva Systems

Veeva Systems Inc provides cloud-based software for the life sciences industry. It offers Veeva Commercial Cloud, a suite of software and data 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.