B. Riley Wealth Advisors Inc. Has $432,000 Stock Position in Veeva Systems Inc. (NYSE:VEEV)

B. Riley Wealth Advisors Inc. lowered its stake in Veeva Systems Inc. (NYSE:VEEV) by 54.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,242 shares of the technology company’s stock after selling 2,645 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Veeva Systems were worth $432,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Operose Advisors LLC acquired a new stake in shares of Veeva Systems during the third quarter valued at approximately $29,000. DSM Capital Partners LLC acquired a new stake in Veeva Systems during the 4th quarter valued at $29,000. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Veeva Systems in the fourth quarter valued at $32,000. Parkside Financial Bank & Trust boosted its position in shares of Veeva Systems by 81.9% in the third quarter. Parkside Financial Bank & Trust now owns 171 shares of the technology company’s stock worth $35,000 after buying an additional 77 shares during the period. Finally, American National Bank purchased a new position in shares of Veeva Systems during the fourth quarter valued at $36,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on VEEV shares. StockNews.com upgraded Veeva Systems from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. Morgan Stanley lowered their price objective on shares of Veeva Systems from $210.00 to $173.00 and set an “underweight” rating on the stock in a research report on Friday, May 31st. Robert W. Baird increased their target price on shares of Veeva Systems from $251.00 to $255.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 29th. Evercore ISI lowered their price target on shares of Veeva Systems from $230.00 to $200.00 and set an “in-line” rating on the stock in a report on Friday, May 31st. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 price target on shares of Veeva Systems in a research note on Friday, May 31st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $227.95.

Veeva Systems Price Performance

Veeva Systems stock opened at $186.65 on Tuesday. Veeva Systems Inc. has a fifty-two week low of $162.72 and a fifty-two week high of $236.90. The firm has a fifty day moving average price of $195.86 and a two-hundred day moving average price of $205.00. The firm has a market cap of $30.17 billion, a price-to-earnings ratio of 55.06, a P/E/G ratio of 1.81 and a beta of 0.80.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings data on Thursday, May 30th. The technology company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.10. The business had revenue of $650.35 million during the quarter, compared to analysts’ expectations of $641.73 million. Veeva Systems had a return on equity of 12.74% and a net margin of 22.34%. As a group, sell-side analysts expect that Veeva Systems Inc. will post 4.17 earnings per share for the current year.

Insider Activity

In related news, CFO Timothy S. Cabral sold 15,000 shares of the company’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $184.33, for a total transaction of $2,764,950.00. Following the completion of the transaction, the chief financial officer now directly owns 8,391 shares in the company, valued at approximately $1,546,713.03. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Timothy S. Cabral sold 15,000 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $184.33, for a total transaction of $2,764,950.00. Following the transaction, the chief financial officer now directly owns 8,391 shares in the company, valued at $1,546,713.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Alan Mateo sold 3,391 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $200.86, for a total value of $681,116.26. Following the completion of the sale, the executive vice president now owns 21,983 shares of the company’s stock, valued at approximately $4,415,505.38. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,989 shares of company stock valued at $4,192,363. 10.50% 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.