Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Brown Advisory Inc.

Brown Advisory Inc. trimmed its stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 15.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,178,252 shares of the technology company's stock after selling 219,060 shares during the quarter. Brown Advisory Inc. owned approximately 0.73% of Veeva Systems worth $226,837,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. OFI Invest Asset Management bought a new position in Veeva Systems during the third quarter valued at $25,000. Operose Advisors LLC purchased a new stake in Veeva Systems in the 3rd quarter worth about $29,000. Parkside Financial Bank & Trust raised its stake in Veeva Systems by 81.9% in the 3rd quarter. Parkside Financial Bank & Trust now owns 171 shares of the technology company's stock valued at $35,000 after acquiring an additional 77 shares during the period. Atticus Wealth Management LLC lifted its holdings in Veeva Systems by 500.0% during the third quarter. Atticus Wealth Management LLC now owns 180 shares of the technology company's stock valued at $37,000 after purchasing an additional 150 shares during the last quarter. Finally, American National Bank bought a new position in Veeva Systems during the fourth quarter worth about $36,000. 88.20% of the stock is owned by institutional investors.

Veeva Systems Trading Up 0.3 %

Shares of VEEV traded up $0.62 during mid-day trading on Friday, reaching $210.27. The company's stock had a trading volume of 517,934 shares, compared to its average volume of 685,411. The stock has a market cap of $33.92 billion, a PE ratio of 65.30, a P/E/G ratio of 2.13 and a beta of 0.76. 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 $213.53 and its two-hundred day moving average price is $202.90.

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

Insider Transactions at Veeva Systems

In related news, EVP Alan Mateo sold 3,391 shares of the stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $200.86, for a total transaction of $681,116.26. Following the sale, the executive vice president now directly owns 21,983 shares of the company's stock, valued at approximately $4,415,505.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Alan Mateo sold 3,391 shares of the firm's stock in a transaction that occurred 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 owns 21,983 shares of the company's stock, valued at $4,415,505.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Timothy S. Cabral sold 15,000 shares of Veeva Systems stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $226.04, for a total transaction of $3,390,600.00. Following the transaction, the director now directly owns 23,391 shares in the company, valued at approximately $5,287,301.64. The disclosure for this sale can be found here. Insiders have sold 21,989 shares of company stock valued at $4,818,013 in the last three months. 10.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on VEEV shares. Citigroup upped their price target on shares of Veeva Systems from $240.00 to $264.00 and gave the company a "buy" rating in a research note on Friday, March 1st. Jefferies Financial Group increased their price objective on Veeva Systems from $225.00 to $270.00 and gave the stock a "buy" rating in a report on Monday, March 4th. Raymond James restated an "outperform" rating and issued a $260.00 target price on shares of Veeva Systems in a research note on Tuesday, March 26th. The Goldman Sachs Group increased their price target on shares of Veeva Systems from $219.00 to $248.00 and gave the stock a "buy" rating in a report on Friday, March 1st. Finally, Barclays boosted their price objective on shares of Veeva Systems from $240.00 to $245.00 and gave the company an "overweight" rating in a research note on Friday, March 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, Veeva Systems currently has a consensus rating of "Moderate Buy" and an average price target of $234.90.

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.