UBS Group AG Sells 16,422 Shares of Veeva Systems Inc. (NYSE:VEEV)

UBS Group AG lessened its holdings in shares of Veeva Systems Inc. (NYSE:VEEV – Get Rating) by 13.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 106,122 shares of the technology company’s stock after selling 16,422 shares during the quarter. UBS Group AG owned about 0.07% of Veeva Systems worth $17,126,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of VEEV. AdvisorNet Financial Inc boosted its position in shares of Veeva Systems by 15.0% during the fourth quarter. AdvisorNet Financial Inc now owns 468 shares of the technology company’s stock valued at $76,000 after purchasing an additional 61 shares in the last quarter. Toroso Investments LLC lifted its holdings in shares of Veeva Systems by 4.9% during the third quarter. Toroso Investments LLC now owns 1,318 shares of the technology company’s stock valued at $217,000 after purchasing an additional 62 shares in the last quarter. Forum Financial Management LP lifted its holdings in shares of Veeva Systems by 6.6% during the first quarter. Forum Financial Management LP now owns 1,038 shares of the technology company’s stock valued at $220,000 after purchasing an additional 64 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in shares of Veeva Systems by 4.2% during the third quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,732 shares of the technology company’s stock valued at $286,000 after purchasing an additional 70 shares in the last quarter. Finally, Banque Pictet & Cie SA lifted its holdings in shares of Veeva Systems by 2.6% during the fourth quarter. Banque Pictet & Cie SA now owns 2,776 shares of the technology company’s stock valued at $448,000 after purchasing an additional 71 shares in the last quarter. Institutional investors own 78.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on VEEV shares. Barclays reduced their price objective on Veeva Systems from $205.00 to $197.00 and set an “overweight” rating for the company in a research report on Thursday, March 2nd. TD Cowen upped their price objective on Veeva Systems from $184.00 to $189.00 and gave the company a “market perform” rating in a research report on Monday, March 6th. Robert W. Baird reduced their price objective on Veeva Systems from $233.00 to $223.00 and set an “outperform” rating for the company in a research report on Monday, February 27th. KeyCorp reduced their price objective on Veeva Systems from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Friday, March 3rd. Finally, Citigroup reduced their price target on Veeva Systems from $213.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday, March 1st. Twelve research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Veeva Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $204.39.

Insider Transactions at Veeva Systems

In other Veeva Systems news, Director Matthew J. Wallach sold 10,000 shares of Veeva Systems stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $178.56, for a total transaction of $1,785,600.00. Following the completion of the sale, the director now owns 3,145 shares of the company’s stock, valued at approximately $561,571.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Paul J. Sekhri sold 2,658 shares of the company’s stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $181.93, for a total value of $483,569.94. Following the completion of the transaction, the director now owns 16,381 shares of the company’s stock, valued at approximately $2,980,195.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Matthew J. Wallach sold 10,000 shares of the stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $178.56, for a total value of $1,785,600.00. Following the transaction, the director now directly owns 3,145 shares of the company’s stock, valued at approximately $561,571.20. The disclosure for this sale can be found here. Insiders sold 12,818 shares of company stock valued at $2,296,277 in the last quarter. 10.98% of the stock is currently owned by corporate insiders.

Veeva Systems Trading Down 1.0 %

Shares of Veeva Systems stock opened at $165.35 on Friday. The firm has a market cap of $26.42 billion, a PE ratio of 54.93, a PEG ratio of 2.85 and a beta of 0.92. Veeva Systems Inc. has a 12 month low of $151.02 and a 12 month high of $232.26. The stock has a 50 day moving average of $176.97 and a 200 day moving average of $173.42.

Veeva Systems (NYSE:VEEV – Get Rating) last issued its quarterly earnings results on Wednesday, March 1st. The technology company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.06. The firm had revenue of $563.39 million for the quarter, compared to the consensus estimate of $552.18 million. Veeva Systems had a return on equity of 12.42% and a net margin of 22.63%. As a group, equities research analysts forecast that Veeva Systems Inc. will post 2.55 earnings per share for the current fiscal year.

Veeva Systems Company Profile

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Veeva Systems, Inc engages in the provision of industry cloud solutions for the global life sciences industry. Its solutions enable pharmaceutical and other life sciences companies to realize the benefits of modern cloud-based architectures and mobile applications for their most critical business functions, without compromising industry-specific functionality or regulatory compliance.