FinTrust Capital Advisors LLC Reduces Position in Veeva Systems Inc. (NYSE:VEEV)

FinTrust Capital Advisors LLC lessened its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 45.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 182 shares of the technology company’s stock after selling 152 shares during the quarter. FinTrust Capital Advisors LLC’s holdings in Veeva Systems were worth $51,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Jacobi Capital Management LLC purchased a new stake in Veeva Systems in the second quarter worth $35,000. Newfound Research LLC purchased a new stake in Veeva Systems in the third quarter worth $41,000. Freestone Capital Holdings LLC purchased a new stake in Veeva Systems in the third quarter worth $44,000. Creative Financial Designs Inc. ADV purchased a new stake in Veeva Systems in the second quarter worth $47,000. Finally, Duncker Streett & Co. Inc. purchased a new stake in Veeva Systems in the second quarter worth $47,000. 79.56% of the stock is owned by hedge funds and other institutional investors.

In other news, SVP Frederic Lequient sold 218 shares of Veeva Systems stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $295.00, for a total transaction of $64,310.00. Following the transaction, the senior vice president now directly owns 820 shares of the company’s stock, valued at approximately $241,900. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Jonathan Faddis sold 5,000 shares of Veeva Systems stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $276.53, for a total value of $1,382,650.00. Following the transaction, the senior vice president now directly owns 5,576 shares in the company, valued at $1,541,931.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,128 shares of company stock worth $6,748,344. Insiders own 14.38% of the company’s stock.

Shares of NYSE:VEEV opened at $274.25 on Friday. The stock has a market capitalization of $41.36 billion, a price-to-earnings ratio of 133.13, a PEG ratio of 10.89 and a beta of 0.91. The stock’s 50-day simple moving average is $285.94 and its two-hundred day simple moving average is $253.70. Veeva Systems Inc. has a 52-week low of $118.11 and a 52-week high of $313.99.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings data on Thursday, August 27th. The technology company reported $0.72 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.08. Veeva Systems had a return on equity of 15.77% and a net margin of 25.60%. The firm had revenue of $353.68 million for the quarter, compared to analysts’ expectations of $340.00 million. During the same period in the previous year, the firm earned $0.55 EPS. The business’s quarterly revenue was up 32.5% on a year-over-year basis. As a group, equities analysts forecast that Veeva Systems Inc. will post 1.82 earnings per share for the current year.

A number of analysts recently commented on VEEV shares. Truist raised their price target on Veeva Systems from $222.00 to $320.00 in a research note on Friday, August 28th. Needham & Company LLC increased their price objective on Veeva Systems from $235.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, August 28th. DA Davidson increased their price objective on Veeva Systems from $235.00 to $325.00 and gave the stock a “buy” rating in a report on Friday, August 28th. SVB Leerink increased their price objective on Veeva Systems from $167.00 to $282.00 and gave the stock a “market perform” rating in a report on Friday, August 28th. Finally, Piper Sandler increased their price objective on Veeva Systems from $220.00 to $310.00 and gave the stock an “overweight” rating in a report on Friday, August 28th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and fourteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $275.28.

About Veeva Systems

Veeva Systems Inc provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, the Middle East, Africa, and Latin America. The company offers Veeva Commercial Cloud, a suite of multichannel customer relationship management applications, commercial data warehouse, allocation and alignment applications, master data management application, and data and services; and Veeva Vault, a cloud-based enterprise content and data management applications for managing commercial functions, including medical, sales, and marketing, as well as research and development functions, such as clinical, regulatory, quality, and safety.

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

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