Sequoia Financial Advisors LLC Acquires 13,654 Shares of Veeva Systems Inc. (NYSE:VEEV)

Sequoia Financial Advisors LLC grew its position in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 703.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,594 shares of the technology company's stock after purchasing an additional 13,654 shares during the period. Sequoia Financial Advisors LLC's holdings in Veeva Systems were worth $3,002,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of VEEV. UMB Bank n.a. increased its position in shares of Veeva Systems by 2.5% during the third quarter. UMB Bank n.a. now owns 2,103 shares of the technology company's stock worth $428,000 after acquiring an additional 51 shares in the last quarter. NewEdge Wealth LLC increased its position in shares of Veeva Systems by 0.6% during the third quarter. NewEdge Wealth LLC now owns 10,059 shares of the technology company's stock worth $2,047,000 after acquiring an additional 60 shares in the last quarter. Personal CFO Solutions LLC increased its position in shares of Veeva Systems by 5.9% during the third quarter. Personal CFO Solutions LLC now owns 1,091 shares of the technology company's stock worth $222,000 after acquiring an additional 61 shares in the last quarter. Penserra Capital Management LLC increased its position in shares of Veeva Systems by 9.3% during the fourth quarter. Penserra Capital Management LLC now owns 729 shares of the technology company's stock worth $117,000 after acquiring an additional 62 shares in the last quarter. Finally, Toroso Investments LLC increased its position in shares of Veeva Systems by 4.9% during the third quarter. Toroso Investments LLC now owns 1,318 shares of the technology company's stock worth $217,000 after acquiring an additional 62 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Veeva Systems Stock Down 2.1 %

Shares of NYSE VEEV traded down $4.44 during mid-day trading on Friday, reaching $206.75. 788,445 shares of the company were exchanged, compared to its average volume of 979,265. The company's 50-day simple moving average is $222.40 and its 200-day simple moving average is $202.85. The stock has a market capitalization of $33.35 billion, a P/E ratio of 64.20, a P/E/G ratio of 2.13 and a beta of 0.74. Veeva Systems Inc. has a twelve month low of $160.21 and a twelve month high of $236.90.

Veeva Systems (NYSE:VEEV - Get Free Report) last posted its earnings results on Thursday, February 29th. The technology company reported $0.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.81 by $0.11. The company had revenue of $630.62 million during the quarter, compared to analysts' expectations of $620.75 million. Veeva Systems had a net margin of 22.24% and a return on equity of 11.26%. As a group, equities research analysts expect that Veeva Systems Inc. will post 4.11 EPS for the current year.

Insiders Place Their Bets

In other Veeva Systems news, EVP Alan Mateo sold 910 shares of Veeva Systems stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $204.72, for a total value of $186,295.20. Following the completion of the sale, the executive vice president now owns 21,983 shares in the company, valued at approximately $4,500,359.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Veeva Systems news, COO Thomas D. Schwenger sold 1,238 shares of the firm's stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $210.02, for a total value of $260,004.76. Following the transaction, the chief operating officer now directly owns 24,342 shares of the company's stock, valued at approximately $5,112,306.84. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Alan Mateo sold 910 shares of the firm's stock in a transaction dated Wednesday, January 17th. The shares were 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 $4,500,359.76. The disclosure for this sale can be found here. Insiders sold 17,148 shares of company stock worth $3,836,900 in the last quarter. 10.98% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on VEEV shares. The Goldman Sachs Group raised their target price on shares of Veeva Systems from $219.00 to $248.00 and gave the company a "buy" rating in a research report on Friday, March 1st. JPMorgan Chase & Co. raised their target price on shares of Veeva Systems from $183.00 to $222.00 and gave the company a "neutral" rating in a research report on Wednesday, March 13th. Truist Financial raised their target price on shares of Veeva Systems from $187.00 to $203.00 and gave the company a "hold" rating in a research report on Friday, March 1st. Oppenheimer reaffirmed an "outperform" rating and issued a $225.00 target price on shares of Veeva Systems in a research report on Thursday, February 22nd. Finally, UBS Group raised their target price on shares of Veeva Systems from $185.00 to $235.00 and gave the company a "neutral" rating in a research report on Monday, February 26th. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $234.90.

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 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.