State of Alaska Department of Revenue Sells 2,755 Shares of Veeva Systems Inc. (NYSE:VEEV)

State of Alaska Department of Revenue lessened its position in Veeva Systems Inc. (NYSE:VEEV) by 13.1% in the first quarter, HoldingsChannel.com reports. The fund owned 18,210 shares of the technology company’s stock after selling 2,755 shares during the period. State of Alaska Department of Revenue’s holdings in Veeva Systems were worth $4,219,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. DSM Capital Partners LLC bought a new position in shares of Veeva Systems in the 4th quarter valued at about $29,000. Vermillion & White Wealth Management Group LLC bought a new position in shares of Veeva Systems in the 4th quarter valued at about $32,000. First Financial Corp IN bought a new position in shares of Veeva Systems in the 1st quarter valued at about $35,000. American National Bank bought a new stake in shares of Veeva Systems during the 4th quarter worth about $36,000. Finally, Atticus Wealth Management LLC boosted its holdings in shares of Veeva Systems by 500.0% during the 3rd quarter. Atticus Wealth Management LLC now owns 180 shares of the technology company’s stock worth $37,000 after buying an additional 150 shares during the period. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Trading Down 0.8 %

Shares of NYSE:VEEV opened at $181.33 on Friday. The firm has a 50 day moving average of $193.58 and a 200-day moving average of $205.11. The stock has a market capitalization of $29.31 billion, a PE ratio of 53.49, a PEG ratio of 1.78 and a beta of 0.80. Veeva Systems Inc. has a 12 month low of $162.72 and a 12 month 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. The company had revenue of $650.35 million for the quarter, compared to analyst estimates of $641.73 million. Veeva Systems had a net margin of 22.34% and a return on equity of 12.74%. On average, research analysts predict that Veeva Systems Inc. will post 4.19 EPS for the current fiscal year.

Insider Activity at Veeva Systems

In related news, EVP Alan Mateo sold 3,391 shares of Veeva Systems 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 sale, the executive vice president now directly owns 21,983 shares of the company’s stock, valued at approximately $4,415,505.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Veeva Systems news, EVP Alan Mateo sold 3,391 shares of the business’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 transaction of $681,116.26. Following the sale, the executive vice president now directly owns 21,983 shares of the company’s stock, valued at approximately $4,415,505.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jonathan Faddis sold 3,598 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was 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 in the company, valued at $2,212,756.56. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,989 shares of company stock valued at $4,192,363. 10.50% of the stock is owned by insiders.

Analysts Set New Price Targets

VEEV has been the subject of several research analyst reports. Truist Financial reduced their target price on shares of Veeva Systems from $203.00 to $197.00 and set a “hold” rating for the company in a report on Friday, June 14th. JPMorgan Chase & Co. lifted their target price on shares of Veeva Systems from $183.00 to $222.00 and gave the stock a “neutral” rating in a report on Wednesday, March 13th. Evercore ISI reduced their target price on shares of Veeva Systems from $230.00 to $200.00 and set an “in-line” rating for the company in a report on Friday, May 31st. Raymond James reaffirmed an “outperform” rating and set a $260.00 target price on shares of Veeva Systems in a report on Tuesday, March 26th. Finally, Bank of America reduced their target price on shares of Veeva Systems from $240.00 to $204.00 and set a “neutral” rating for the company in a report on Friday, May 31st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $227.95.

Veeva Systems 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.