Veeva Systems Inc. (NYSE:VEEV) Stock Holdings Reduced by Radnor Capital Management LLC

Radnor Capital Management LLC reduced its position in Veeva Systems Inc. (NYSE:VEEV) by 3.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,780 shares of the technology company’s stock after selling 66 shares during the period. Radnor Capital Management LLC’s holdings in Veeva Systems were worth $412,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Facet Wealth Inc. increased its holdings in Veeva Systems by 3.2% in the fourth quarter. Facet Wealth Inc. now owns 1,542 shares of the technology company’s stock worth $323,000 after buying an additional 48 shares during the last quarter. Yousif Capital Management LLC raised its holdings in shares of Veeva Systems by 3.5% during the 4th quarter. Yousif Capital Management LLC now owns 1,777 shares of the technology company’s stock valued at $342,000 after purchasing an additional 60 shares in the last quarter. Personal CFO Solutions LLC lifted its stake in shares of Veeva Systems by 5.9% in the 3rd quarter. Personal CFO Solutions LLC now owns 1,091 shares of the technology company’s stock valued at $222,000 after purchasing an additional 61 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in Veeva Systems by 14.7% in the fourth quarter. Quadrant Capital Group LLC now owns 530 shares of the technology company’s stock worth $102,000 after purchasing an additional 68 shares in the last quarter. Finally, Wedmont Private Capital increased its position in Veeva Systems by 3.8% during the first quarter. Wedmont Private Capital now owns 1,981 shares of the technology company’s stock worth $429,000 after buying an additional 72 shares during the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Veeva Systems Stock Performance

Shares of Veeva Systems stock opened at $184.88 on Monday. The firm has a market cap of $29.89 billion, a P/E ratio of 54.54, a price-to-earnings-growth ratio of 1.81 and a beta of 0.80. The firm’s 50-day simple moving average is $196.16 and its 200-day simple moving average is $204.91. Veeva Systems Inc. has a twelve month low of $162.72 and a twelve month high of $236.90.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Thursday, May 30th. The technology company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.10. Veeva Systems had a return on equity of 12.74% and a net margin of 22.34%. The company had revenue of $650.35 million for the quarter, compared to the consensus estimate of $641.73 million. On average, equities analysts forecast that Veeva Systems Inc. will post 4.17 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Raymond James reiterated an “outperform” rating and set a $260.00 price target on shares of Veeva Systems in a research note on Tuesday, March 26th. Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 price target on shares of Veeva Systems in a report on Friday. Robert W. Baird upped their price objective on shares of Veeva Systems from $251.00 to $255.00 and gave the stock an “outperform” rating in a report on Wednesday, May 29th. Truist Financial dropped their target price on shares of Veeva Systems from $203.00 to $197.00 and set a “hold” rating on the stock in a report on Friday, June 14th. Finally, Jefferies Financial Group upped their price target on shares of Veeva Systems from $225.00 to $270.00 and gave the company a “buy” rating in a report on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $227.95.

Insider Activity at Veeva Systems

In related news, EVP Alan Mateo sold 3,391 shares of the stock in a transaction dated 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 sale, the executive vice president now owns 21,983 shares in the company, valued at approximately $4,415,505.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Alan Mateo sold 3,391 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 21,983 shares in the company, valued at approximately $4,415,505.38. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Timothy S. Cabral sold 15,000 shares of the firm’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $184.33, for a total value of $2,764,950.00. Following the sale, the chief financial officer now directly owns 8,391 shares of the company’s stock, valued at $1,546,713.03. The disclosure for this sale can be found here. Insiders have sold a total of 21,989 shares of company stock valued at $4,192,363 in the last 90 days. 10.50% of the stock is owned by corporate insiders.

Veeva Systems Company 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.