American Trust Cuts Stock Position in Veeva Systems Inc. (NYSE:VEEV)

American Trust cut its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 58.2% during the second quarter, Holdings Channel.com reports. The fund owned 1,587 shares of the technology company’s stock after selling 2,214 shares during the period. American Trust’s holdings in Veeva Systems were worth $290,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in VEEV. Advisors Asset Management Inc. bought a new stake in Veeva Systems during the 1st quarter valued at approximately $28,000. Vermillion & White Wealth Management Group LLC bought a new position in Veeva Systems in the 4th quarter worth approximately $32,000. Blue Trust Inc. grew its holdings in Veeva Systems by 3,460.0% during the 2nd quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock valued at $33,000 after buying an additional 173 shares in the last quarter. First Financial Corp IN purchased a new stake in Veeva Systems during the 1st quarter valued at approximately $35,000. Finally, DT Investment Partners LLC bought a new stake in shares of Veeva Systems during the second quarter valued at approximately $35,000. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Veeva Systems Stock Down 0.0 %

Shares of Veeva Systems stock opened at $207.53 on Thursday. The stock’s fifty day moving average is $203.11 and its two-hundred day moving average is $200.42. Veeva Systems Inc. has a 52 week low of $162.72 and a 52 week high of $236.90. The company has a market capitalization of $33.61 billion, a PE ratio of 61.22, a price-to-earnings-growth ratio of 2.05 and a beta of 0.81.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings results on Wednesday, August 28th. The technology company reported $1.07 EPS for the quarter, topping the consensus estimate of $1.04 by $0.03. The company had revenue of $676.18 million for the quarter, compared to the consensus estimate of $667.21 million. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. As a group, research analysts anticipate that Veeva Systems Inc. will post 4.21 earnings per share for the current year.

Insider Activity

In related news, SVP Jonathan Faddis sold 2,353 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $200.00, for a total value of $470,600.00. Following the transaction, the senior vice president now owns 9,035 shares of the company’s stock, valued at $1,807,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 10.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on VEEV. Bank of America lifted their price target on shares of Veeva Systems from $204.00 to $240.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Guggenheim boosted their target price on Veeva Systems from $233.00 to $249.00 and gave the stock a “buy” rating in a research report on Tuesday. Robert W. Baird raised their price target on Veeva Systems from $245.00 to $251.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Raymond James upped their price objective on Veeva Systems from $230.00 to $235.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $260.00 target price on shares of Veeva Systems in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, Veeva Systems has a consensus rating of “Moderate Buy” and an average target price of $230.65.

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.