AE Wealth Management LLC Has $2.23 Million Stake in Veeva Systems Inc. (NYSE:VEEV)

AE Wealth Management LLC lowered its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 5.7% during the second quarter, HoldingsChannel.com reports. The fund owned 12,209 shares of the technology company’s stock after selling 739 shares during the quarter. AE Wealth Management LLC’s holdings in Veeva Systems were worth $2,234,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Canada Pension Plan Investment Board boosted its holdings in shares of Veeva Systems by 293.5% during the 2nd quarter. Canada Pension Plan Investment Board now owns 90,227 shares of the technology company’s stock worth $16,512,000 after buying an additional 67,296 shares in the last quarter. Davidson Capital Management Inc. boosted its stake in Veeva Systems by 52.2% during the second quarter. Davidson Capital Management Inc. now owns 17,355 shares of the technology company’s stock worth $3,176,000 after acquiring an additional 5,949 shares in the last quarter. Oberndorf William E grew its holdings in Veeva Systems by 22.0% in the second quarter. Oberndorf William E now owns 50,780 shares of the technology company’s stock worth $9,293,000 after purchasing an additional 9,171 shares during the period. GM Advisory Group LLC increased its stake in Veeva Systems by 20.8% in the second quarter. GM Advisory Group LLC now owns 1,219 shares of the technology company’s stock valued at $223,000 after purchasing an additional 210 shares in the last quarter. Finally, Intech Investment Management LLC raised its holdings in shares of Veeva Systems by 1,186.6% during the second quarter. Intech Investment Management LLC now owns 91,659 shares of the technology company’s stock valued at $16,775,000 after purchasing an additional 84,535 shares during the period. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Veeva Systems Stock Performance

Shares of VEEV stock opened at $211.04 on Tuesday. The firm has a market cap of $34.12 billion, a price-to-earnings ratio of 62.25, a P/E/G ratio of 2.12 and a beta of 0.81. Veeva Systems Inc. has a 52 week low of $162.72 and a 52 week high of $236.90. The firm’s 50-day simple moving average is $199.76 and its two-hundred day simple moving average is $201.29.

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 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 company had revenue of $676.18 million for the quarter, compared to analysts’ expectations of $667.21 million. Analysts forecast that Veeva Systems Inc. will post 4.2 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Morgan Stanley decreased their target price on Veeva Systems from $210.00 to $173.00 and set an “underweight” rating for the company in a research report on Friday, May 31st. Piper Sandler upped their target price on Veeva Systems from $225.00 to $230.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Truist Financial lifted their price target on shares of Veeva Systems from $197.00 to $207.00 and gave the company a “hold” rating in a research report on Tuesday, September 3rd. Royal Bank of Canada restated an “outperform” rating and set a $250.00 price objective on shares of Veeva Systems in a report on Thursday, August 29th. Finally, Barclays raised their price objective on shares of Veeva Systems from $220.00 to $240.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $229.96.

Insider Activity

In related news, SVP Jonathan Faddis sold 2,353 shares of Veeva Systems stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $200.00, for a total value of $470,600.00. Following the completion of the sale, the senior vice president now owns 9,035 shares of the company’s stock, valued at approximately $1,807,000. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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.