Bleakley Financial Group LLC Cuts Stake in Veeva Systems Inc. (NYSE:VEEV)

Bleakley Financial Group LLC lowered its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 1.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,076 shares of the technology company’s stock after selling 59 shares during the quarter. Bleakley Financial Group LLC’s holdings in Veeva Systems were worth $977,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. OFI Invest Asset Management bought a new position in shares of Veeva Systems during the 3rd quarter valued at approximately $25,000. Rise Advisors LLC lifted its stake in Veeva Systems by 424.0% in the third quarter. Rise Advisors LLC now owns 131 shares of the technology company’s stock valued at $27,000 after purchasing an additional 106 shares during the last quarter. Operose Advisors LLC bought a new position in Veeva Systems during the third quarter valued at $29,000. Resurgent Financial Advisors LLC purchased a new stake in Veeva Systems in the fourth quarter worth $33,000. Finally, Parkside Financial Bank & Trust raised its stake in shares of Veeva Systems by 81.9% in the third quarter. Parkside Financial Bank & Trust now owns 171 shares of the technology company’s stock valued at $35,000 after buying an additional 77 shares during the period. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Price Performance

Shares of Veeva Systems stock opened at $211.19 on Friday. The company has a 50 day simple moving average of $222.40 and a two-hundred day simple moving average of $202.85. The firm has a market cap of $34.07 billion, a PE ratio of 65.59, a PEG ratio of 2.13 and a beta of 0.74. Veeva Systems Inc. has a 1 year low of $160.21 and a 1 year high of $236.90.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings data on Thursday, February 29th. The technology company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.11. The company had revenue of $630.62 million during the quarter, compared to the consensus estimate of $620.75 million. Veeva Systems had a net margin of 22.24% and a return on equity of 11.26%. As a group, research analysts anticipate that Veeva Systems Inc. will post 4.11 earnings per share for the current year.

Insider Activity

In related news, COO Thomas D. Schwenger sold 1,238 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $210.02, for a total value of $260,004.76. Following the completion of the sale, the chief operating officer now owns 24,342 shares in the company, valued at approximately $5,112,306.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 transaction of $186,295.20. Following the completion of the sale, the executive vice president now directly 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 accessible through this link. Also, COO Thomas D. Schwenger sold 1,238 shares of the firm’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $210.02, for a total value of $260,004.76. Following the transaction, the chief operating officer now directly owns 24,342 shares in the company, valued at $5,112,306.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,148 shares of company stock worth $3,836,900. 10.98% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Stifel Nicolaus increased their price target on Veeva Systems from $205.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Raymond James reiterated an “outperform” rating and set a $260.00 target price on shares of Veeva Systems in a research report on Tuesday, March 26th. UBS Group boosted their price target on shares of Veeva Systems from $185.00 to $235.00 and gave the company a “neutral” rating in a research report on Monday, February 26th. Oppenheimer reaffirmed an “outperform” rating and issued a $225.00 price objective on shares of Veeva Systems in a report on Thursday, February 22nd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $260.00 price objective on shares of Veeva Systems in a research note on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $234.90.

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.