Global Retirement Partners LLC Sells 419 Shares of Veeva Systems Inc. (NYSE:VEEV)

Global Retirement Partners LLC reduced its stake in Veeva Systems Inc. (NYSE:VEEV) by 5.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 6,796 shares of the technology company’s stock after selling 419 shares during the quarter. Global Retirement Partners LLC’s holdings in Veeva Systems were worth $1,426,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Veeva Systems by 7.5% in the first quarter. Vanguard Group Inc. now owns 14,150,070 shares of the technology company’s stock valued at $3,278,430,000 after purchasing an additional 991,208 shares in the last quarter. Van ECK Associates Corp lifted its stake in Veeva Systems by 9.0% in the 1st quarter. Van ECK Associates Corp now owns 1,934,150 shares of the technology company’s stock valued at $448,123,000 after acquiring an additional 159,085 shares in the last quarter. TD Asset Management Inc boosted its position in Veeva Systems by 17.5% during the 1st quarter. TD Asset Management Inc now owns 1,227,223 shares of the technology company’s stock worth $284,335,000 after acquiring an additional 182,762 shares during the last quarter. Swedbank AB boosted its position in Veeva Systems by 4.9% during the 2nd quarter. Swedbank AB now owns 1,031,064 shares of the technology company’s stock worth $188,695,000 after acquiring an additional 48,402 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Veeva Systems by 1,122.3% during the 2nd quarter. Principal Financial Group Inc. now owns 912,223 shares of the technology company’s stock worth $166,946,000 after acquiring an additional 837,593 shares in the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Veeva Systems

In other news, SVP Jonathan Faddis sold 2,353 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $200.00, for a total transaction of $470,600.00. Following the transaction, the senior vice president now owns 9,035 shares in the company, valued at approximately $1,807,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 10.50% of the company’s stock.

Analyst Upgrades and Downgrades

VEEV has been the topic of a number of research reports. BTIG Research started coverage on shares of Veeva Systems in a research report on Tuesday, July 9th. They issued a “buy” rating and a $240.00 price objective on the stock. Royal Bank of Canada restated an “outperform” rating and set a $250.00 price objective on shares of Veeva Systems in a research note on Thursday, August 29th. Robert W. Baird lifted their target price on Veeva Systems from $245.00 to $251.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. JPMorgan Chase & Co. upped their target price on Veeva Systems from $203.00 to $208.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. Finally, Needham & Company LLC restated a “buy” rating and issued a $260.00 price target on shares of Veeva Systems in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Veeva Systems presently has an average rating of “Moderate Buy” and an average target price of $232.96.

Veeva Systems Stock Performance

NYSE:VEEV opened at $221.44 on Friday. The stock has a fifty day moving average price of $208.39 and a 200-day moving average price of $198.89. The company has a market cap of $35.86 billion, a price-to-earnings ratio of 59.05, a PEG ratio of 2.05 and a beta of 0.81. Veeva Systems Inc. has a fifty-two week low of $162.72 and a fifty-two week high of $236.90.

Veeva Systems (NYSE:VEEV) last issued its earnings results on Wednesday, August 28th. The technology company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.03. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. The firm had revenue of $676.18 million for the quarter, compared to analyst estimates of $667.21 million. Research analysts predict that Veeva Systems Inc. will post 4.21 EPS for the current fiscal year.

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.