Veeva Systems Inc. (NYSE:VEEV) Shares Acquired by Valley National Advisers Inc.

Valley National Advisers Inc. raised its position in Veeva Systems Inc. (NYSE:VEEV) by 36.8% during the first quarter, Holdings Channel.com reports. The firm owned 1,674 shares of the technology company’s stock after buying an additional 450 shares during the period. Valley National Advisers Inc.’s holdings in Veeva Systems were worth $387,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of VEEV. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Veeva Systems by 1.3% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 402,575 shares of the technology company’s stock valued at $93,273,000 after buying an additional 5,352 shares during the period. Exchange Capital Management Inc. lifted its stake in shares of Veeva Systems by 14.4% during the 1st quarter. Exchange Capital Management Inc. now owns 29,209 shares of the technology company’s stock worth $6,767,000 after purchasing an additional 3,679 shares during the period. Diversified Trust Co boosted its holdings in shares of Veeva Systems by 43.2% during the first quarter. Diversified Trust Co now owns 13,210 shares of the technology company’s stock worth $3,061,000 after purchasing an additional 3,988 shares during the last quarter. Blue Zone Wealth Advisors LLC grew its position in shares of Veeva Systems by 8.9% in the first quarter. Blue Zone Wealth Advisors LLC now owns 13,530 shares of the technology company’s stock valued at $3,135,000 after purchasing an additional 1,103 shares during the period. Finally, Trilogy Capital Inc. purchased a new stake in shares of Veeva Systems in the first quarter valued at $410,000. 88.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Timothy S. Cabral sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was 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 in the company, valued at approximately $1,546,713.03. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, SVP Jonathan Faddis sold 3,598 shares of the firm’s 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 transaction, the senior vice president now owns 10,668 shares in the company, valued at $2,212,756.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Timothy S. Cabral sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $184.33, for a total value of $2,764,950.00. Following the completion of the sale, the chief financial officer now owns 8,391 shares of the company’s stock, valued at $1,546,713.03. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,989 shares of company stock valued at $4,192,363. Insiders own 10.50% of the company’s stock.

Veeva Systems Stock Down 0.8 %

Shares of VEEV stock opened at $181.33 on Thursday. The business has a 50 day moving average of $193.97 and a two-hundred day moving average of $205.28. The company has a market cap of $29.31 billion, a P/E ratio of 53.49, a PEG ratio of 1.79 and a beta of 0.80. Veeva Systems Inc. has a 52 week low of $162.72 and a 52 week high of $236.90.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings results on Thursday, May 30th. The technology company reported $1.03 earnings per share (EPS) for the quarter, beating 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 company had revenue of $650.35 million during the quarter, compared to the consensus estimate of $641.73 million. Analysts expect that Veeva Systems Inc. will post 4.19 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have issued reports on VEEV shares. Bank of America decreased their price target on Veeva Systems from $240.00 to $204.00 and set a “neutral” rating on the stock in a research note on Friday, May 31st. Canaccord Genuity Group dropped their price target on shares of Veeva Systems from $220.00 to $210.00 and set a “hold” rating for the company in a research report on Friday, May 31st. Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 price target on shares of Veeva Systems in a report on Friday, June 21st. Stifel Nicolaus lowered their price target on Veeva Systems from $250.00 to $210.00 and set a “buy” rating for the company in a research report on Friday, May 31st. Finally, UBS Group cut their price objective on Veeva Systems from $235.00 to $185.00 and set a “neutral” rating on the stock in a report on Friday, May 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $227.95.

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.