Mirador Capital Partners LP Sells 145 Shares of Veeva Systems Inc. (NYSE:VEEV)

Mirador Capital Partners LP reduced its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 1.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,016 shares of the technology company’s stock after selling 145 shares during the quarter. Mirador Capital Partners LP’s holdings in Veeva Systems were worth $2,321,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Facet Wealth Inc. raised its stake in shares of 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 period. Yousif Capital Management LLC lifted its stake 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 buying an additional 60 shares in the last quarter. Quadrant Capital Group LLC boosted its holdings in Veeva Systems by 14.7% in the 4th quarter. Quadrant Capital Group LLC now owns 530 shares of the technology company’s stock worth $102,000 after buying an additional 68 shares during the period. Wedmont Private Capital boosted its holdings in Veeva Systems by 3.8% in the 1st 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 period. Finally, Foundations Investment Advisors LLC boosted its stake in shares of Veeva Systems by 3.7% in the fourth quarter. Foundations Investment Advisors LLC now owns 2,250 shares of the technology company’s stock worth $459,000 after acquiring an additional 80 shares during the period. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Insider Transactions at Veeva Systems

In other news, EVP Alan Mateo sold 3,391 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through 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 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 of the company’s stock, valued at $4,415,505.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jonathan Faddis sold 3,598 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $207.42, for a total transaction of $746,297.16. Following 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 quarter, insiders sold 21,989 shares of company stock valued at $4,192,363. Company insiders own 10.50% of the company’s stock.

Veeva Systems Trading Up 0.1 %

Shares of VEEV traded up $0.14 during mid-day trading on Monday, hitting $183.15. The company’s stock had a trading volume of 125,359 shares, compared to its average volume of 999,335. The company’s 50-day moving average is $194.68 and its 200-day moving average is $205.28. Veeva Systems Inc. has a 52-week low of $162.72 and a 52-week high of $236.90. The firm has a market capitalization of $29.61 billion, a price-to-earnings ratio of 53.99, a PEG ratio of 1.79 and a beta of 0.80.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings results 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. Veeva Systems had a net margin of 22.34% and a return on equity of 12.74%. The firm had revenue of $650.35 million during the quarter, compared to analysts’ expectations of $641.73 million. As a group, sell-side analysts predict that Veeva Systems Inc. will post 4.19 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on VEEV shares. StockNews.com raised Veeva Systems from a “hold” rating to a “buy” rating in a report on Friday, April 12th. Raymond James reiterated an “outperform” rating and issued a $260.00 price target on shares of Veeva Systems in a report on Tuesday, March 26th. Stifel Nicolaus reduced their target price on Veeva Systems from $250.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, May 31st. UBS Group reduced their price objective on Veeva Systems from $235.00 to $185.00 and set a “neutral” rating on the stock in a research note on Friday, May 31st. Finally, Bank of America lowered their target price on Veeva Systems from $240.00 to $204.00 and set a “neutral” rating for the company in a research report on Friday, May 31st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Veeva Systems has an average rating of “Moderate Buy” and a consensus target price of $227.95.

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.