Sequoia Financial Advisors LLC Trims Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Sequoia Financial Advisors LLC lessened its holdings in Veeva Systems Inc. (NYSE:VEEVFree Report) by 4.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,864 shares of the technology company’s stock after selling 730 shares during the period. Sequoia Financial Advisors LLC’s holdings in Veeva Systems were worth $3,444,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of VEEV. DSM Capital Partners LLC acquired a new position in shares of Veeva Systems in the fourth quarter valued at approximately $29,000. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Veeva Systems in the fourth quarter valued at approximately $32,000. First Financial Corp IN acquired a new position in shares of Veeva Systems in the first quarter valued at approximately $35,000. American National Bank acquired a new position in shares of Veeva Systems in the fourth quarter valued at approximately $36,000. Finally, Atticus Wealth Management LLC raised its position in shares of Veeva Systems by 500.0% in the third quarter. Atticus Wealth Management LLC now owns 180 shares of the technology company’s stock valued at $37,000 after buying an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on VEEV shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 price target on shares of Veeva Systems in a research report on Friday, June 21st. Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 price target on shares of Veeva Systems in a research report on Friday, May 31st. Citigroup dropped their price target on shares of Veeva Systems from $274.00 to $256.00 and set a “buy” rating for the company in a research report on Monday, June 3rd. Evercore ISI dropped their price target on shares of Veeva Systems from $230.00 to $200.00 and set an “in-line” rating for the company in a research report on Friday, May 31st. Finally, StockNews.com raised shares of Veeva Systems from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $227.95.

Get Our Latest Report on VEEV

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 3,598 shares of the stock in a transaction on Monday, April 15th. The shares were sold at an average price of $207.42, for a total transaction of $746,297.16. Following the transaction, the senior vice president now directly owns 10,668 shares in the company, valued at approximately $2,212,756.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Veeva Systems news, EVP Alan Mateo sold 3,391 shares of the 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 transaction, the executive vice president now directly owns 21,983 shares in the company, valued at approximately $4,415,505.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jonathan Faddis sold 3,598 shares of the stock in a transaction on Monday, April 15th. The shares were 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 in the company, valued at $2,212,756.56. The disclosure for this sale can be found here. Insiders have sold 21,989 shares of company stock worth $4,192,363 in the last ninety days. 10.50% of the stock is owned by insiders.

Veeva Systems Trading Up 1.2 %

Shares of VEEV stock opened at $183.46 on Friday. The company has a market capitalization of $29.66 billion, a PE ratio of 54.12, a price-to-earnings-growth ratio of 1.80 and a beta of 0.80. The firm has a fifty day simple moving average of $192.88 and a 200-day simple moving average of $205.11. Veeva Systems Inc. has a twelve month low of $162.72 and a twelve month high of $236.90.

Veeva Systems (NYSE:VEEVGet Free Report) last announced its earnings results on Thursday, May 30th. The technology company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.10. The business had revenue of $650.35 million during the quarter, compared to the consensus estimate of $641.73 million. Veeva Systems had a net margin of 22.34% and a return on equity of 12.74%. Equities research analysts predict that Veeva Systems Inc. will post 4.19 EPS for the current 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 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.

See Also

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

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