Private Advisor Group LLC Sells 62 Shares of Veeva Systems Inc. (NYSE:VEEV)

Private Advisor Group LLC decreased its position in Veeva Systems Inc. (NYSE:VEEVFree Report) by 0.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,486 shares of the technology company’s stock after selling 62 shares during the quarter. Private Advisor Group LLC’s holdings in Veeva Systems were worth $1,966,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Linscomb & Williams Inc. bought a new position in Veeva Systems in the 4th quarter worth $1,479,000. Robeco Institutional Asset Management B.V. raised its stake in shares of Veeva Systems by 32.7% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 206,220 shares of the technology company’s stock worth $365,000 after buying an additional 50,868 shares during the period. Sequoia Financial Advisors LLC lifted its position in shares of Veeva Systems by 703.8% during the 4th quarter. Sequoia Financial Advisors LLC now owns 15,594 shares of the technology company’s stock valued at $3,002,000 after buying an additional 13,654 shares in the last quarter. Nordea Investment Management AB increased its holdings in Veeva Systems by 5.2% in the 4th quarter. Nordea Investment Management AB now owns 163,247 shares of the technology company’s stock worth $31,730,000 after acquiring an additional 8,007 shares in the last quarter. Finally, APG Asset Management US Inc. bought a new stake in Veeva Systems during the 4th quarter worth approximately $5,756,000. 88.20% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Veeva Systems

In related news, CFO Timothy S. Cabral sold 15,000 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $184.33, for a total value of $2,764,950.00. Following the transaction, the chief financial officer now owns 8,391 shares of the company’s stock, valued at approximately $1,546,713.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Veeva Systems news, CFO Timothy S. Cabral sold 15,000 shares of Veeva Systems stock in a transaction on Friday, June 7th. The stock was sold at an average price of $184.33, for a total transaction of $2,764,950.00. Following the completion of the sale, the chief financial officer now directly owns 8,391 shares of the company’s stock, valued at approximately $1,546,713.03. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Alan Mateo sold 3,391 shares of the company’s stock in a transaction on Tuesday, April 23rd. The stock was 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 owns 21,983 shares of the company’s stock, valued at $4,415,505.38. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,989 shares of company stock worth $4,192,363. 10.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on VEEV shares. StockNews.com upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 price target on shares of Veeva Systems in a report on Friday, June 21st. Barclays cut their target price on Veeva Systems from $245.00 to $220.00 and set an “overweight” rating for the company in a research report on Friday, May 31st. Robert W. Baird boosted their price target on Veeva Systems from $251.00 to $255.00 and gave the stock an “outperform” rating in a report on Wednesday, May 29th. Finally, Morgan Stanley reduced their price objective on shares of Veeva Systems from $210.00 to $173.00 and set an “underweight” rating on the stock in a research report on Friday, May 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $227.95.

View Our Latest Stock Report on VEEV

Veeva Systems Trading Down 0.3 %

Veeva Systems stock opened at $182.91 on Tuesday. The firm has a market capitalization of $29.57 billion, a PE ratio of 53.96, a price-to-earnings-growth ratio of 1.80 and a beta of 0.80. Veeva Systems Inc. has a 12-month low of $162.72 and a 12-month high of $236.90. The firm has a 50-day moving average price of $192.51 and a 200-day moving average price of $205.24.

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

Veeva Systems Company 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.

Further Reading

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

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