Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC decreased its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 10.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,269 shares of the technology company’s stock after selling 251 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Veeva Systems were worth $437,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sequoia Financial Advisors LLC lifted its holdings in Veeva Systems by 703.8% in the fourth quarter. Sequoia Financial Advisors LLC now owns 15,594 shares of the technology company’s stock valued at $3,002,000 after acquiring an additional 13,654 shares during the period. Nordea Investment Management AB lifted its holdings in Veeva Systems by 5.2% in the fourth quarter. Nordea Investment Management AB now owns 163,247 shares of the technology company’s stock valued at $31,730,000 after acquiring an additional 8,007 shares during the period. ICICI Prudential Asset Management Co Ltd increased its position in shares of Veeva Systems by 13.1% in the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 49,140 shares of the technology company’s stock valued at $9,460,000 after buying an additional 5,674 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of Veeva Systems by 26.3% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 98,377 shares of the technology company’s stock valued at $18,953,000 after buying an additional 20,488 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its position in shares of Veeva Systems by 43.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 31,517 shares of the technology company’s stock valued at $6,068,000 after buying an additional 9,490 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Insiders Place Their Bets

In other Veeva Systems news, SVP Jonathan Faddis sold 3,598 shares of the business’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $207.42, for a total transaction of $746,297.16. Following the transaction, the senior vice president now owns 10,668 shares of the company’s stock, valued at $2,212,756.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Jonathan Faddis sold 3,598 shares of the company’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $207.42, for a total value of $746,297.16. Following the transaction, the senior vice president now owns 10,668 shares of the company’s stock, valued at approximately $2,212,756.56. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Alan Mateo sold 3,391 shares of the company’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $200.86, for a total value of $681,116.26. Following the completion of the transaction, the executive vice president now directly owns 21,983 shares in the company, valued at approximately $4,415,505.38. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,989 shares of company stock valued at $4,818,013. Insiders own 10.98% of the company’s stock.

Veeva Systems Stock Performance

NYSE VEEV opened at $200.95 on Wednesday. The stock’s fifty day moving average is $220.53 and its two-hundred day moving average is $202.75. The firm has a market capitalization of $32.42 billion, a P/E ratio of 62.41, a price-to-earnings-growth ratio of 2.00 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:VEEV) last released its quarterly earnings data on Thursday, February 29th. The technology company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.11. The company had revenue of $630.62 million for the quarter, compared to analyst estimates of $620.75 million. Veeva Systems had a return on equity of 11.26% and a net margin of 22.24%. As a group, sell-side analysts forecast that Veeva Systems Inc. will post 4.11 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on VEEV. The Goldman Sachs Group boosted their price objective on Veeva Systems from $219.00 to $248.00 and gave the company a “buy” rating in a research report on Friday, March 1st. JPMorgan Chase & Co. boosted their price objective on Veeva Systems from $183.00 to $222.00 and gave the company a “neutral” rating in a research report on Wednesday, March 13th. Citigroup boosted their price objective on Veeva Systems from $240.00 to $264.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Oppenheimer restated an “outperform” rating and issued a $225.00 price objective on shares of Veeva Systems in a research report on Thursday, February 22nd. Finally, Truist Financial boosted their price objective on Veeva Systems from $187.00 to $203.00 and gave the company a “hold” rating in a research report on Friday, March 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $234.90.

Veeva Systems Company 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.