Orion Capital Management LLC Sells 200 Shares of Veeva Systems Inc. (NYSE:VEEV)

Orion Capital Management LLC lowered its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 2.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 8,760 shares of the technology company’s stock after selling 200 shares during the quarter. Veeva Systems comprises 1.0% of Orion Capital Management LLC’s portfolio, making the stock its 21st largest holding. Orion Capital Management LLC’s holdings in Veeva Systems were worth $1,686,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. NewEdge Wealth LLC lifted its holdings in shares of Veeva Systems by 0.6% in the 3rd quarter. NewEdge Wealth LLC now owns 10,059 shares of the technology company’s stock worth $2,047,000 after acquiring an additional 60 shares during the last quarter. Yousif Capital Management LLC increased its stake in Veeva Systems by 3.5% in the 4th quarter. Yousif Capital Management LLC now owns 1,777 shares of the technology company’s stock worth $342,000 after buying an additional 60 shares during the period. Personal CFO Solutions LLC increased its stake in Veeva Systems by 5.9% in the 3rd quarter. Personal CFO Solutions LLC now owns 1,091 shares of the technology company’s stock worth $222,000 after buying an additional 61 shares during the period. Sequoia Financial Advisors LLC increased its stake in Veeva Systems by 3.4% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,940 shares of the technology company’s stock worth $395,000 after buying an additional 63 shares during the period. Finally, Cape Investment Advisory Inc. increased its stake in Veeva Systems by 3.0% in the 3rd quarter. Cape Investment Advisory Inc. now owns 2,180 shares of the technology company’s stock worth $444,000 after buying an additional 64 shares during the period. Institutional investors own 88.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Raymond James reaffirmed an “outperform” rating and issued a $260.00 price target on shares of Veeva Systems in a research note on Tuesday, March 26th. Stifel Nicolaus raised their target price 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. The Goldman Sachs Group raised their target price on shares of Veeva Systems from $219.00 to $248.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Piper Sandler raised their target price on shares of Veeva Systems from $220.00 to $245.00 and gave the company an “overweight” rating in a research report on Friday, March 1st. Finally, Barclays raised their target price on shares of Veeva Systems from $240.00 to $245.00 and gave the company an “overweight” rating in a research report on Friday, March 1st. 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 stock. According to data from MarketBeat, Veeva Systems currently has a consensus rating of “Moderate Buy” and an average price target of $234.90.

Veeva Systems Stock Performance

VEEV stock traded up $2.79 during trading on Wednesday, reaching $201.35. The company had a trading volume of 350,515 shares, compared to its average volume of 956,206. The firm has a 50-day simple moving average of $218.51 and a 200-day simple moving average of $202.22. The company has a market cap of $32.48 billion, a price-to-earnings ratio of 61.66, a price-to-earnings-growth ratio of 2.04 and a beta of 0.74. Veeva Systems Inc. has a twelve month low of $160.21 and a twelve month high of $236.90.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Thursday, February 29th. The technology company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.81 by $0.11. Veeva Systems had a net margin of 22.24% and a return on equity of 11.26%. The business had revenue of $630.62 million during the quarter, compared to analysts’ expectations of $620.75 million. Sell-side analysts expect that Veeva Systems Inc. will post 4.11 earnings per share for the current year.

Insider Buying and Selling at Veeva Systems

In other news, EVP Alan Mateo sold 3,391 shares of Veeva Systems stock in a transaction that occurred on Tuesday, April 23rd. The shares were 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 SEC, which is available through the SEC website. In other news, EVP Alan Mateo sold 3,391 shares of Veeva Systems stock in a transaction that occurred on Tuesday, April 23rd. The shares were 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 SEC, which is available through the SEC website. Also, SVP Jonathan Faddis sold 3,598 shares of the business’s stock in a transaction on Monday, April 15th. The stock was 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 21,989 shares of company stock worth $4,818,013. Company insiders own 10.98% of the company’s stock.

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.