Atria Wealth Solutions Inc. Sells 1,597 Shares of Veeva Systems Inc. (NYSE:VEEV)

Atria Wealth Solutions Inc. lessened its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 8.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 16,839 shares of the technology company’s stock after selling 1,597 shares during the period. Atria Wealth Solutions Inc.’s holdings in Veeva Systems were worth $3,242,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. OFI Invest Asset Management bought a new stake in Veeva Systems in the third quarter valued at $25,000. Operose Advisors LLC bought a new stake in shares of Veeva Systems during the third quarter worth about $29,000. Parkside Financial Bank & Trust increased its position in shares of Veeva Systems by 81.9% during the third quarter. Parkside Financial Bank & Trust now owns 171 shares of the technology company’s stock worth $35,000 after acquiring an additional 77 shares in the last quarter. Atticus Wealth Management LLC raised its holdings in shares of Veeva Systems by 500.0% in the 3rd quarter. Atticus Wealth Management LLC now owns 180 shares of the technology company’s stock worth $37,000 after acquiring an additional 150 shares during the last quarter. Finally, Nkcfo LLC lifted its position in Veeva Systems by 54.7% in the 3rd quarter. Nkcfo LLC now owns 232 shares of the technology company’s stock valued at $47,000 after acquiring an additional 82 shares in the last quarter. 88.20% of the stock is owned by institutional investors.

Veeva Systems Trading Up 0.9 %

Shares of NYSE VEEV opened at $200.91 on Monday. Veeva Systems Inc. has a 12 month low of $160.21 and a 12 month high of $236.90. The firm has a market capitalization of $32.41 billion, a PE ratio of 62.39, a price-to-earnings-growth ratio of 2.03 and a beta of 0.74. The firm has a fifty day simple moving average of $219.27 and a two-hundred day simple moving average of $202.45.

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. Veeva Systems had a return on equity of 11.26% and a net margin of 22.24%. The business had revenue of $630.62 million during the quarter, compared to the consensus estimate of $620.75 million. On average, sell-side analysts predict that Veeva Systems Inc. will post 4.11 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Citigroup lifted their target price on Veeva Systems from $240.00 to $264.00 and gave the company a “buy” rating in a research report on Friday, March 1st. 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 note on Friday, March 1st. Oppenheimer reaffirmed an “outperform” rating and set a $225.00 target price on shares of Veeva Systems in a report on Thursday, February 22nd. Jefferies Financial Group increased their price objective on Veeva Systems from $225.00 to $270.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. Finally, Robert W. Baird lifted their price objective on shares of Veeva Systems from $245.00 to $251.00 and gave the stock an “outperform” rating in a report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $234.90.

Insider Buying and Selling at Veeva Systems

In related news, Director Timothy S. Cabral sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $226.04, for a total value of $3,390,600.00. Following the transaction, the director now directly owns 23,391 shares of the company’s stock, valued at approximately $5,287,301.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Veeva Systems news, EVP Alan Mateo sold 3,391 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $200.86, for a total value of $681,116.26. Following the transaction, the executive vice president now directly owns 21,983 shares of the company’s stock, valued at $4,415,505.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Timothy S. Cabral sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $226.04, for a total transaction of $3,390,600.00. Following the completion of the transaction, the director now directly owns 23,391 shares in the company, valued at approximately $5,287,301.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,989 shares of company stock worth $4,818,013. 10.98% of the stock is owned by insiders.

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.