Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. reduced its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 56.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,355 shares of the technology company’s stock after selling 5,631 shares during the period. Atria Wealth Solutions Inc.’s holdings in Veeva Systems were worth $1,009,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Sowell Financial Services LLC acquired a new position in shares of Veeva Systems in the 1st quarter valued at about $274,000. Crossmark Global Holdings Inc. bought a new stake in shares of Veeva Systems in the 1st quarter worth approximately $299,000. GAMMA Investing LLC lifted its holdings in shares of Veeva Systems by 13.8% in the 1st quarter. GAMMA Investing LLC now owns 1,823 shares of the technology company’s stock worth $422,000 after purchasing an additional 221 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of Veeva Systems in the 1st quarter worth approximately $5,876,000. Finally, Private Trust Co. NA lifted its holdings in shares of Veeva Systems by 35.0% in the 1st quarter. Private Trust Co. NA now owns 247 shares of the technology company’s stock worth $57,000 after purchasing an additional 64 shares during the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Raymond James Financial raised their price target on Veeva Systems from $285.00 to $310.00 and gave the stock an “outperform” rating in a report on Thursday, May 29th. Wells Fargo & Company raised their price target on Veeva Systems from $285.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday, May 29th. Mizuho raised their price target on Veeva Systems from $280.00 to $295.00 and gave the stock an “outperform” rating in a report on Monday, June 2nd. KeyCorp raised their price target on Veeva Systems from $285.00 to $325.00 and gave the stock an “overweight” rating in a report on Monday, July 14th. Finally, Stifel Nicolaus raised their price target on Veeva Systems from $272.00 to $295.00 and gave the stock a “buy” rating in a report on Thursday, May 29th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $274.17.

Insider Buying and Selling

In related news, Director Priscilla Hung sold 171 shares of the stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $284.40, for a total value of $48,632.40. Following the completion of the sale, the director directly owned 3,966 shares of the company’s stock, valued at approximately $1,127,930.40. This represents a 4.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Timothy S. Cabral sold 315 shares of Veeva Systems stock in a transaction on Friday, June 6th. The shares were sold at an average price of $289.72, for a total value of $91,261.80. Following the sale, the director directly owned 5,500 shares of the company’s stock, valued at approximately $1,593,460. The trade was a 5.42% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,378 shares of company stock valued at $394,217. Corporate insiders own 10.30% of the company’s stock.

Veeva Systems Price Performance

Shares of VEEV opened at $277.35 on Tuesday. The firm’s 50 day moving average is $282.91 and its 200-day moving average is $249.69. The stock has a market capitalization of $45.32 billion, a P/E ratio of 58.76, a P/E/G ratio of 2.23 and a beta of 0.95. Veeva Systems Inc. has a 12-month low of $184.39 and a 12-month high of $296.72.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Wednesday, May 28th. The technology company reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.23. The firm had revenue of $759.04 million during the quarter, compared to the consensus estimate of $728.38 million. Veeva Systems had a return on equity of 13.96% and a net margin of 27.34%. The business’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.50 EPS. As a group, equities research analysts forecast that Veeva Systems Inc. will post 4.35 EPS for the current fiscal year.

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.