Versor Investments LP Trims Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Versor Investments LP decreased its stake in Veeva Systems Inc. (NYSE:VEEV) by 41.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,601 shares of the technology company’s stock after selling 1,848 shares during the quarter. Versor Investments LP’s holdings in Veeva Systems were worth $546,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in Veeva Systems in the 3rd quarter worth approximately $26,000. Advisors Asset Management Inc. acquired a new stake in Veeva Systems during the first quarter valued at $28,000. Blue Trust Inc. grew its position in Veeva Systems by 3,460.0% during the second quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock valued at $33,000 after buying an additional 173 shares during the period. DT Investment Partners LLC purchased a new position in Veeva Systems in the second quarter valued at $35,000. Finally, Mather Group LLC. raised its position in shares of Veeva Systems by 166.3% in the second quarter. Mather Group LLC. now owns 253 shares of the technology company’s stock worth $46,000 after acquiring an additional 158 shares during the period. 88.20% of the stock is owned by institutional investors and hedge funds.

Veeva Systems Stock Performance

Shares of Veeva Systems stock opened at $233.37 on Thursday. The business’s 50 day moving average price is $214.81 and its 200 day moving average price is $200.26. The company has a market cap of $37.79 billion, a price-to-earnings ratio of 62.23, a PEG ratio of 2.28 and a beta of 0.81. Veeva Systems Inc. has a one year low of $165.12 and a one year high of $240.68.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings results on Wednesday, August 28th. The technology company reported $1.07 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $667.21 million. On average, analysts predict that Veeva Systems Inc. will post 4.21 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Barclays raised their target price on Veeva Systems from $240.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Bank of America raised their price objective on Veeva Systems from $204.00 to $240.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Royal Bank of Canada upped their target price on Veeva Systems from $250.00 to $275.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Guggenheim lifted their price target on shares of Veeva Systems from $233.00 to $249.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Finally, Robert W. Baird reduced their price objective on shares of Veeva Systems from $251.00 to $245.00 and set an “outperform” rating for the company in a research report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $237.00.

Insider Activity

In other news, insider Thomas D. Schwenger sold 1,126 shares of Veeva Systems stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $240.01, for a total transaction of $270,251.26. Following the sale, the insider now owns 27,013 shares of the company’s stock, valued at approximately $6,483,390.13. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Veeva Systems 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 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Thomas D. Schwenger sold 1,126 shares of Veeva Systems stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $240.01, for a total transaction of $270,251.26. Following the sale, the insider now owns 27,013 shares of the company’s stock, valued at approximately $6,483,390.13. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 10.50% of the company’s stock.

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.