Veeva Systems Inc. (NYSE:VEEV) Shares Sold by HB Wealth Management LLC

HB Wealth Management LLC lessened its stake in Veeva Systems Inc. (NYSE:VEEVFree Report) by 15.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 2,008 shares of the technology company’s stock after selling 362 shares during the period. HB Wealth Management LLC’s holdings in Veeva Systems were worth $387,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in VEEV. OFI Invest Asset Management purchased a new stake in Veeva Systems in the 3rd quarter valued at approximately $25,000. Rise Advisors LLC boosted its holdings in Veeva Systems by 424.0% in the 3rd quarter. Rise Advisors LLC now owns 131 shares of the technology company’s stock valued at $27,000 after purchasing an additional 106 shares in the last quarter. Operose Advisors LLC purchased a new stake in Veeva Systems in the 3rd quarter valued at approximately $29,000. Resurgent Financial Advisors LLC purchased a new stake in Veeva Systems in the 4th quarter valued at approximately $33,000. Finally, Parkside Financial Bank & Trust boosted its holdings in Veeva Systems by 81.9% in the 3rd quarter. Parkside Financial Bank & Trust now owns 171 shares of the technology company’s stock valued at $35,000 after purchasing an additional 77 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on VEEV shares. Citigroup lifted their price objective on Veeva Systems from $240.00 to $264.00 and gave the company a “buy” rating in a report on Friday, March 1st. Robert W. Baird lifted their price objective on Veeva Systems from $245.00 to $251.00 and gave the company an “outperform” rating in a report on Friday, March 1st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 price objective on shares of Veeva Systems in a report on Wednesday. Jefferies Financial Group boosted their price target on Veeva Systems from $225.00 to $270.00 and gave the stock a “buy” rating in a research note on Monday, March 4th. Finally, The Goldman Sachs Group boosted their price target on Veeva Systems from $219.00 to $248.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Veeva Systems presently has a consensus rating of “Moderate Buy” and an average target price of $234.90.

Get Our Latest Stock Report on Veeva Systems

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, EVP Alan Mateo sold 910 shares of the company’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $204.72, for a total value of $186,295.20. Following the completion of the transaction, the executive vice president now directly owns 21,983 shares of the company’s stock, valued at approximately $4,500,359.76. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP Alan Mateo sold 910 shares of the stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $204.72, for a total transaction of $186,295.20. Following the sale, the executive vice president now owns 21,983 shares in the company, valued at $4,500,359.76. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Matthew J. Wallach sold 5,000 shares of the stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $186.05, for a total transaction of $930,250.00. Following the sale, the director now owns 109,025 shares in the company, valued at approximately $20,284,101.25. The disclosure for this sale can be found here. Insiders sold a total of 29,498 shares of company stock valued at $6,219,253 in the last ninety days. Insiders own 10.98% of the company’s stock.

Veeva Systems Stock Performance

Shares of VEEV opened at $233.53 on Thursday. The stock has a fifty day moving average of $219.45 and a two-hundred day moving average of $201.94. The company has a market capitalization of $37.60 billion, a PE ratio of 72.52, a price-to-earnings-growth ratio of 2.32 and a beta of 0.74. Veeva Systems Inc. has a fifty-two week low of $160.21 and a fifty-two week high of $236.90.

Veeva Systems (NYSE:VEEVGet Free Report) last announced its quarterly earnings results on Thursday, February 29th. The technology company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.11. Veeva Systems had a return on equity of 11.59% and a net margin of 22.24%. The firm had revenue of $630.62 million during the quarter, compared to the consensus estimate of $620.75 million. As a group, equities research analysts forecast that Veeva Systems Inc. will post 4.11 earnings per share for the current fiscal year.

Veeva Systems Profile

(Free Report)

Veeva Systems Inc provides cloud-based software for the life sciences industry. It offers Veeva Commercial Cloud, a suite of software and data 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.

See Also

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Institutional Ownership by Quarter for Veeva Systems (NYSE:VEEV)

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