Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Mission Wealth Management LP

Mission Wealth Management LP decreased its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 10.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 26,446 shares of the technology company’s stock after selling 2,928 shares during the period. Mission Wealth Management LP’s holdings in Veeva Systems were worth $5,091,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Simplicity Solutions LLC lifted its position in Veeva Systems by 3.6% in the third quarter. Simplicity Solutions LLC now owns 5,135 shares of the technology company’s stock valued at $1,045,000 after purchasing an additional 177 shares during the period. Suncoast Equity Management lifted its position in Veeva Systems by 4.1% in the third quarter. Suncoast Equity Management now owns 2,963 shares of the technology company’s stock valued at $603,000 after purchasing an additional 118 shares during the period. Cambridge Investment Research Advisors Inc. lifted its position in Veeva Systems by 2.2% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 55,379 shares of the technology company’s stock valued at $11,267,000 after purchasing an additional 1,192 shares during the period. Robeco Institutional Asset Management B.V. lifted its position in Veeva Systems by 42.8% in the third quarter. Robeco Institutional Asset Management B.V. now owns 155,352 shares of the technology company’s stock valued at $31,606,000 after purchasing an additional 46,566 shares during the period. Finally, Xponance Inc. lifted its position in Veeva Systems by 2.1% in the third quarter. Xponance Inc. now owns 20,820 shares of the technology company’s stock valued at $4,236,000 after purchasing an additional 433 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.

Insider Activity at Veeva Systems

In related news, Director Timothy S. Cabral sold 15,000 shares of Veeva Systems stock in a transaction 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 owns 23,391 shares in the company, valued at approximately $5,287,301.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Veeva Systems news, Director Timothy S. Cabral sold 15,000 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $226.04, for a total value of $3,390,600.00. Following the transaction, the director now owns 23,391 shares in the company, valued at approximately $5,287,301.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 owns 21,983 shares in the company, valued at approximately $4,415,505.38. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,989 shares of company stock worth $4,818,013. 10.98% of the stock is currently owned by corporate insiders.

Veeva Systems Stock Down 1.5 %

Shares of NYSE VEEV traded down $3.02 during trading on Tuesday, hitting $198.56. 549,488 shares of the company traded hands, compared to its average volume of 963,853. Veeva Systems Inc. has a 1 year low of $160.21 and a 1 year high of $236.90. The company has a 50-day moving average price of $218.91 and a 200-day moving average price of $202.35. The firm has a market capitalization of $32.03 billion, a P/E ratio of 62.60, a P/E/G ratio of 2.03 and a beta of 0.74.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Thursday, February 29th. The technology company reported $0.92 earnings per share (EPS) 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 analysts’ expectations of $620.75 million. Veeva Systems had a net margin of 22.24% and a return on equity of 11.26%. Research analysts predict that Veeva Systems Inc. will post 4.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on VEEV. Jefferies Financial Group raised their price objective on shares of Veeva Systems from $225.00 to $270.00 and gave the company a “buy” rating in a research report on Monday, March 4th. Raymond James reiterated an “outperform” rating and set a $260.00 price target on shares of Veeva Systems in a research report on Tuesday, March 26th. Robert W. Baird lifted their price target on shares of Veeva Systems from $245.00 to $251.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. UBS Group lifted their price target 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. Finally, Stifel Nicolaus lifted their price target on shares of Veeva Systems from $205.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, March 1st. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus 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.