Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Davidson Capital Management Inc.

Davidson Capital Management Inc. lowered its position in Veeva Systems Inc. (NYSE:VEEV) by 17.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,344 shares of the technology company’s stock after selling 3,011 shares during the quarter. Davidson Capital Management Inc.’s holdings in Veeva Systems were worth $3,010,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Brookstone Capital Management purchased a new stake in Veeva Systems in the 1st quarter worth approximately $234,000. Wealth Enhancement Advisory Services LLC boosted its position in shares of Veeva Systems by 3.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 9,479 shares of the technology company’s stock valued at $2,196,000 after acquiring an additional 293 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Veeva Systems by 1.3% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 402,575 shares of the technology company’s stock valued at $93,273,000 after acquiring an additional 5,352 shares in the last quarter. Valley National Advisers Inc. boosted its position in shares of Veeva Systems by 36.8% during the 1st quarter. Valley National Advisers Inc. now owns 1,674 shares of the technology company’s stock valued at $387,000 after acquiring an additional 450 shares in the last quarter. Finally, Norden Group LLC acquired a new position in Veeva Systems in the first quarter valued at about $304,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Trading Up 1.3 %

Shares of NYSE:VEEV traded up $2.78 on Tuesday, hitting $214.91. 156,371 shares of the company were exchanged, compared to its average volume of 940,242. The firm has a market capitalization of $34.80 billion, a P/E ratio of 56.43, a price-to-earnings-growth ratio of 2.06 and a beta of 0.81. The stock’s 50 day moving average price is $211.44 and its 200 day moving average price is $198.73. Veeva Systems Inc. has a 1-year low of $162.72 and a 1-year high of $236.90.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings results on Wednesday, August 28th. The technology company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.03. The firm had revenue of $676.18 million for the quarter, compared to analyst estimates of $667.21 million. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. On average, equities analysts predict that Veeva Systems Inc. will post 4.21 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on VEEV. UBS Group boosted their target price on shares of Veeva Systems from $185.00 to $215.00 and gave the stock a “neutral” rating in a research note on Monday, August 26th. Piper Sandler upped their price target on shares of Veeva Systems from $225.00 to $230.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Robert W. Baird reduced their price target on shares of Veeva Systems from $251.00 to $245.00 and set an “outperform” rating for the company in a report on Monday. TD Cowen increased their target price on shares of Veeva Systems from $180.00 to $192.00 and gave the stock a “hold” rating in a report on Thursday, August 29th. Finally, Truist Financial upped their price target on shares of Veeva Systems from $197.00 to $207.00 and gave the stock a “hold” rating in a research report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $232.87.

Insider Transactions at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 2,353 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $200.00, for a total value of $470,600.00. Following the sale, the senior vice president now directly owns 9,035 shares of the company’s stock, valued at approximately $1,807,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 10.50% of the company’s stock.

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.