Reynders McVeigh Capital Management LLC Cuts Position in Veeva Systems Inc. (NYSE:VEEV)

Reynders McVeigh Capital Management LLC decreased its position in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 32.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,738 shares of the technology company's stock after selling 12,198 shares during the quarter. Reynders McVeigh Capital Management LLC's holdings in Veeva Systems were worth $4,955,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Veeva Systems by 8.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 34,171 shares of the technology company's stock worth $6,952,000 after purchasing an additional 2,698 shares during the period. IFM Investors Pty Ltd increased its stake in Veeva Systems by 5.2% in the 3rd quarter. IFM Investors Pty Ltd now owns 27,839 shares of the technology company's stock worth $5,664,000 after purchasing an additional 1,380 shares during the period. Advisor Partners II LLC increased its stake in Veeva Systems by 81.1% in the 3rd quarter. Advisor Partners II LLC now owns 2,093 shares of the technology company's stock worth $426,000 after purchasing an additional 937 shares during the period. Assetmark Inc. increased its stake in Veeva Systems by 3.1% in the 3rd quarter. Assetmark Inc. now owns 28,137 shares of the technology company's stock worth $5,724,000 after purchasing an additional 842 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in Veeva Systems by 2.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 831,671 shares of the technology company's stock worth $169,204,000 after purchasing an additional 16,111 shares during the period. Institutional investors own 88.20% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on VEEV. Piper Sandler lifted their price target on Veeva Systems from $220.00 to $245.00 and gave the stock an "overweight" rating in a research note on Friday, March 1st. Needham & Company LLC reissued a "buy" rating and set a $260.00 target price on shares of Veeva Systems in a research note on Tuesday, April 2nd. KeyCorp boosted their target price on Veeva Systems from $232.00 to $250.00 and gave the company an "overweight" rating in a research note on Tuesday, March 5th. JPMorgan Chase & Co. boosted their target price 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 raised Veeva Systems from a "hold" rating to a "buy" rating in a research note on Friday, April 12th. 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 company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $234.90.

Veeva Systems Trading Down 0.1 %

Veeva Systems stock traded down $0.13 during mid-day trading on Friday, hitting $203.78. The company had a trading volume of 541,920 shares, compared to its average volume of 789,260. The stock's 50 day moving average price is $215.35 and its two-hundred day moving average price is $202.18. Veeva Systems Inc. has a 12 month low of $160.21 and a 12 month high of $236.90. The company has a market capitalization of $32.87 billion, a PE ratio of 63.29, a price-to-earnings-growth ratio of 2.06 and a beta of 0.76.

Veeva Systems (NYSE:VEEV - Get Free Report) last released its earnings results on Thursday, February 29th. The technology company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.81 by $0.11. Veeva Systems had a return on equity of 11.26% and a net margin of 22.24%. The business had revenue of $630.62 million for the quarter, compared to the consensus estimate of $620.75 million. Equities research analysts anticipate that Veeva Systems Inc. will post 4.11 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Alan Mateo sold 3,391 shares of the company's stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $200.86, for a total transaction of $681,116.26. Following the transaction, the executive vice president now directly owns 21,983 shares of the company's stock, valued at $4,415,505.38. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, SVP Jonathan Faddis sold 3,598 shares of the company's stock in a transaction on Monday, April 15th. The stock was sold at an average price of $207.42, for a total transaction of $746,297.16. Following the transaction, the senior vice president now directly owns 10,668 shares of the company's stock, valued at $2,212,756.56. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Alan Mateo sold 3,391 shares of the company's stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $200.86, for a total value of $681,116.26. Following the transaction, the executive vice president now directly owns 21,983 shares in the company, valued at $4,415,505.38. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,989 shares of company stock valued at $4,818,013. 10.50% 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 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.