Signaturefd LLC Lowers Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Signaturefd LLC cut its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 19.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,047 shares of the technology company’s stock after selling 255 shares during the period. Signaturefd LLC’s holdings in Veeva Systems were worth $202,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Invesco Ltd. increased its stake in Veeva Systems by 239.7% during the 3rd quarter. Invesco Ltd. now owns 956,355 shares of the technology company’s stock worth $194,570,000 after buying an additional 674,785 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Veeva Systems by 34.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,045,414 shares of the technology company’s stock worth $416,139,000 after acquiring an additional 522,257 shares during the period. Wellington Management Group LLP raised its stake in shares of Veeva Systems by 9.6% in the third quarter. Wellington Management Group LLP now owns 3,315,304 shares of the technology company’s stock valued at $674,499,000 after acquiring an additional 289,133 shares in the last quarter. FMR LLC boosted its holdings in Veeva Systems by 15.4% in the third quarter. FMR LLC now owns 1,833,135 shares of the technology company’s stock valued at $372,951,000 after purchasing an additional 244,599 shares during the period. Finally, International Assets Investment Management LLC grew its stake in Veeva Systems by 16,580.5% during the 4th quarter. International Assets Investment Management LLC now owns 187,322 shares of the technology company’s stock worth $36,063,000 after purchasing an additional 186,199 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Stock Performance

Shares of NYSE:VEEV opened at $200.91 on Friday. Veeva Systems Inc. has a one year low of $160.21 and a one year high of $236.90. The stock has a market capitalization of $32.41 billion, a price-to-earnings ratio of 62.39, a PEG ratio of 2.03 and a beta of 0.74. The company has a 50-day simple moving average of $219.27 and a 200-day simple moving average of $202.55.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings data on Thursday, February 29th. The technology company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.81 by $0.11. Veeva Systems had a return on equity of 11.26% 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, research analysts forecast that Veeva Systems Inc. will post 4.11 EPS for the current fiscal year.

Insider Buying and Selling

In other Veeva Systems news, 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 transaction of $681,116.26. Following the completion of the transaction, the executive vice president now owns 21,983 shares in the company, valued at approximately $4,415,505.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Alan Mateo sold 3,391 shares of the firm’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 sale, the executive vice president now directly owns 21,983 shares of the company’s stock, valued at approximately $4,415,505.38. The disclosure for this sale can be found here. Insiders sold a total of 21,989 shares of company stock valued at $4,818,013 over the last three months. 10.98% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. 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 research note on Friday, March 1st. Oppenheimer reiterated an “outperform” rating and set a $225.00 price target on shares of Veeva Systems in a report on Thursday, February 22nd. StockNews.com upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a report on Friday, April 12th. Raymond James reiterated an “outperform” rating and set a $260.00 target price on shares of Veeva Systems in a research note on Tuesday, March 26th. Finally, Barclays lifted their price target on Veeva Systems from $240.00 to $245.00 and gave the stock an “overweight” rating in a report on Friday, March 1st. One equities research 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 data from MarketBeat, the stock has a consensus 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.