Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Montanaro Asset Management Ltd

Montanaro Asset Management Ltd decreased its holdings in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 36.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,550 shares of the technology company's stock after selling 46,000 shares during the period. Veeva Systems comprises approximately 2.9% of Montanaro Asset Management Ltd's investment portfolio, making the stock its 14th largest holding. Montanaro Asset Management Ltd's holdings in Veeva Systems were worth $15,315,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Yousif Capital Management LLC lifted its holdings in Veeva Systems by 5.5% in the 3rd quarter. Yousif Capital Management LLC now owns 1,717 shares of the technology company's stock valued at $349,000 after purchasing an additional 90 shares in the last quarter. Wealthfront Advisers LLC raised its position in shares of Veeva Systems by 12.6% in the third quarter. Wealthfront Advisers LLC now owns 2,656 shares of the technology company's stock valued at $540,000 after buying an additional 297 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of Veeva Systems by 2.3% in the third quarter. Daiwa Securities Group Inc. now owns 8,736 shares of the technology company's stock worth $1,777,000 after buying an additional 200 shares in the last quarter. Banque Pictet & Cie SA acquired a new position in Veeva Systems during the third quarter worth about $267,000. Finally, Principal Financial Group Inc. grew its stake in Veeva Systems by 160.9% during the 3rd quarter. Principal Financial Group Inc. now owns 73,760 shares of the technology company's stock valued at $15,006,000 after acquiring an additional 45,489 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on VEEV shares. Raymond James reissued an "outperform" rating and issued a $260.00 target price on shares of Veeva Systems in a research note on Tuesday, March 26th. Barclays boosted their price objective on Veeva Systems from $240.00 to $245.00 and gave the stock an "overweight" rating in a research note on Friday, March 1st. Piper Sandler raised their target price on Veeva Systems from $220.00 to $245.00 and gave the stock an "overweight" rating in a research note on Friday, March 1st. KeyCorp lifted their price target on Veeva Systems from $232.00 to $250.00 and gave the stock an "overweight" rating in a report on Tuesday, March 5th. Finally, StockNews.com raised shares of Veeva Systems from a "hold" rating to a "buy" rating in a report on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $234.90.

Insiders Place Their Bets

In related news, EVP Alan Mateo sold 3,391 shares of the business'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 completion of the transaction, the executive vice president now directly owns 21,983 shares of the company's stock, valued at approximately $4,415,505.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Jonathan Faddis sold 3,598 shares of Veeva Systems stock in a transaction on Monday, April 15th. The shares were sold at an average price of $207.42, for a total transaction of $746,297.16. Following the completion of the sale, the senior vice president now directly owns 10,668 shares of the company's stock, valued at approximately $2,212,756.56. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Alan Mateo sold 3,391 shares of the 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 completion of the transaction, the executive vice president now directly owns 21,983 shares in the company, valued at approximately $4,415,505.38. The disclosure for this sale can be found here. Insiders have sold a total of 21,989 shares of company stock worth $4,818,013 in the last ninety days. 10.50% of the stock is owned by corporate insiders.

Veeva Systems Stock Performance

Shares of NYSE VEEV traded down $0.72 during trading on Tuesday, reaching $209.24. The stock had a trading volume of 665,482 shares, compared to its average volume of 913,616. The company has a market cap of $33.75 billion, a P/E ratio of 65.08, a PEG ratio of 2.13 and a beta of 0.76. Veeva Systems Inc. has a fifty-two week low of $160.21 and a fifty-two week high of $236.90. The business's 50-day moving average price is $213.17 and its 200-day moving average price is $203.04.

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

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.

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