Ellevest Inc. trimmed its position in shares of Veeva Systems Inc. (NYSE:VEEV – Get Rating) by 37.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 295 shares of the technology company's stock after selling 180 shares during the period. Ellevest Inc.'s holdings in Veeva Systems were worth $58,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the company. 17 Capital Partners LLC grew its stake in Veeva Systems by 5.2% during the second quarter. 17 Capital Partners LLC now owns 1,020 shares of the technology company's stock worth $202,000 after buying an additional 50 shares in the last quarter. Highland Capital Management LLC boosted its stake in shares of Veeva Systems by 0.7% in the 1st quarter. Highland Capital Management LLC now owns 7,717 shares of the technology company's stock valued at $1,640,000 after purchasing an additional 51 shares in the last quarter. Handelsinvest Investeringsforvaltning boosted its stake in shares of Veeva Systems by 0.5% in the 2nd quarter. Handelsinvest Investeringsforvaltning now owns 10,051 shares of the technology company's stock valued at $1,991,000 after purchasing an additional 51 shares in the last quarter. Revolve Wealth Partners LLC boosted its stake in shares of Veeva Systems by 3.1% in the 2nd quarter. Revolve Wealth Partners LLC now owns 1,720 shares of the technology company's stock valued at $341,000 after purchasing an additional 52 shares in the last quarter. Finally, Forum Financial Management LP boosted its stake in shares of Veeva Systems by 6.6% in the 1st quarter. Forum Financial Management LP now owns 1,038 shares of the technology company's stock valued at $220,000 after purchasing an additional 64 shares in the last quarter. 80.14% of the stock is currently owned by institutional investors and hedge funds.
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In other news, Director Matthew J. Wallach sold 10,000 shares of Veeva Systems stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $169.27, for a total value of $1,692,700.00. Following the completion of the sale, the director now owns 2,546 shares in the company, valued at approximately $430,961.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Matthew J. Wallach sold 10,000 shares of Veeva Systems stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $169.27, for a total value of $1,692,700.00. Following the completion of the sale, the director now owns 2,546 shares in the company, valued at approximately $430,961.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Paul Edward Chamberlain sold 260 shares of Veeva Systems stock in a transaction on Monday, September 12th. The shares were sold at an average price of $179.99, for a total transaction of $46,797.40. Following the completion of the sale, the director now directly owns 16,443 shares of the company's stock, valued at approximately $2,959,575.57. The disclosure for this sale can be found here. 13.23% of the stock is currently owned by company insiders.
Veeva Systems Stock Performance
Veeva Systems stock opened at $164.88 on Friday. Veeva Systems Inc. has a 52-week low of $152.04 and a 52-week high of $327.78. The firm has a 50 day moving average price of $197.34 and a two-hundred day moving average price of $192.45. The firm has a market cap of $25.60 billion, a price-to-earnings ratio of 67.85, a PEG ratio of 3.90 and a beta of 0.76.Veeva Systems (NYSE:VEEV – Get Rating) last released its quarterly earnings data on Wednesday, August 31st. The technology company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.02. The company had revenue of $534.20 million during the quarter, compared to analyst estimates of $530.70 million. Veeva Systems had a net margin of 19.67% and a return on equity of 13.40%. Veeva Systems's revenue for the quarter was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.64 EPS. As a group, equities research analysts predict that Veeva Systems Inc. will post 2.55 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on VEEV. Canaccord Genuity Group reduced their price target on shares of Veeva Systems from $200.00 to $185.00 in a research note on Thursday, September 1st. Barclays reduced their price target on shares of Veeva Systems from $222.00 to $205.00 and set an "equal weight" rating on the stock in a research note on Thursday, September 1st. Piper Sandler reduced their price target on shares of Veeva Systems from $275.00 to $245.00 and set an "overweight" rating on the stock in a research note on Thursday, September 1st. The Goldman Sachs Group reduced their price target on shares of Veeva Systems to $235.00 in a research note on Tuesday, September 6th. Finally, Raymond James raised their price objective on shares of Veeva Systems from $205.00 to $225.00 and gave the company an "outperform" rating in a report on Thursday, September 1st. Eight research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $223.05.
Veeva Systems Profile
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Veeva Systems Inc provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, the Middle East, Africa, and Latin America. The company offers Veeva Commercial Cloud, a suite of software, data, and analytics solutions, which include Veeva customer relationship management (CRM) and Veeva Medical CRM, Veeva CLM, Veeva CRM MyInsights, Veeva CLM, Veeva CRM Approved Email, Veeva CRM Engage, Veeva Align, Veeva CRM Events Management, Veeva Nitro, Veeva OpenData, Veeva Link, Veeva Network, Veeva Crossix, Veeva Data Cloud, and MyVeeva for Patients; and Veeva Vault, a cloud-based enterprise content and data management applications for managing commercial functions, including sales and marketing, and medical content and communications, as well as research and development functions, such as clinical, regulatory, quality, and safety.
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