Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Ownership Capital B.V.

Ownership Capital B.V. lowered its stake in Veeva Systems Inc. (NYSE:VEEV) by 2.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,088,483 shares of the technology company’s stock after selling 33,083 shares during the period. Veeva Systems makes up approximately 4.7% of Ownership Capital B.V.’s portfolio, making the stock its 11th biggest holding. Ownership Capital B.V.’s holdings in Veeva Systems were worth $209,555,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. OFI Invest Asset Management acquired a new position in shares of Veeva Systems in the third quarter valued at approximately $25,000. Operose Advisors LLC acquired a new position in Veeva Systems during the third quarter worth $29,000. Parkside Financial Bank & Trust grew its holdings in Veeva Systems by 81.9% during the third quarter. Parkside Financial Bank & Trust now owns 171 shares of the technology company’s stock worth $35,000 after acquiring an additional 77 shares during the period. Atticus Wealth Management LLC grew 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 worth $37,000 after acquiring an additional 150 shares during the period. Finally, Nkcfo LLC grew its holdings in Veeva Systems by 54.7% during the third quarter. Nkcfo LLC now owns 232 shares of the technology company’s stock worth $47,000 after acquiring an additional 82 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on VEEV shares. Barclays upped their price objective on Veeva Systems from $240.00 to $245.00 and gave the stock an “overweight” rating in a report on Friday, March 1st. Piper Sandler upped their price objective on Veeva Systems from $220.00 to $245.00 and gave the stock an “overweight” rating in a report on Friday, March 1st. KeyCorp upped their price objective on Veeva Systems from $232.00 to $250.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. Truist Financial upped their price objective on Veeva Systems from $187.00 to $203.00 and gave the stock a “hold” rating in a report on Friday, March 1st. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 target price on shares of Veeva Systems in a report on Wednesday, March 27th. One research 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $234.90.

Veeva Systems Trading Up 0.9 %

Shares of NYSE:VEEV traded up $1.82 on Friday, hitting $200.91. The company had a trading volume of 848,504 shares, compared to its average volume of 941,040. Veeva Systems Inc. has a 52-week low of $160.21 and a 52-week high of $236.90. The business has a 50 day moving average of $219.27 and a 200 day moving average of $202.63. The company has a market cap of $32.41 billion, a PE ratio of 62.39, a PEG ratio of 2.01 and a beta of 0.74.

Veeva Systems (NYSE:VEEV) last issued 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. 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. As a group, equities analysts predict that Veeva Systems Inc. will post 4.11 EPS for the current year.

Insider Buying and Selling

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