Veeva Systems Inc. (NYSE:VEEV) Shares Sold by HF Advisory Group LLC

HF Advisory Group LLC cut its holdings in Veeva Systems Inc. (NYSE:VEEV) by 8.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 1,766 shares of the technology company’s stock after selling 167 shares during the period. HF Advisory Group LLC’s holdings in Veeva Systems were worth $409,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of VEEV. Centricity Wealth Management LLC acquired a new position in Veeva Systems in the 4th quarter valued at $25,000. Smithfield Trust Co raised its holdings in Veeva Systems by 145.5% in the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock valued at $27,000 after acquiring an additional 80 shares during the last quarter. Avion Wealth raised its holdings in Veeva Systems by 635.0% in the 4th quarter. Avion Wealth now owns 147 shares of the technology company’s stock valued at $30,000 after acquiring an additional 127 shares during the last quarter. Venturi Wealth Management LLC raised its holdings in Veeva Systems by 2,716.7% in the 4th quarter. Venturi Wealth Management LLC now owns 169 shares of the technology company’s stock valued at $36,000 after acquiring an additional 163 shares during the last quarter. Finally, Promus Capital LLC acquired a new position in Veeva Systems in the 4th quarter valued at $36,000. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on VEEV. Truist Financial upped their price objective on Veeva Systems from $217.00 to $230.00 and gave the stock a “hold” rating in a report on Thursday, May 29th. Morgan Stanley upped their price objective on Veeva Systems from $201.00 to $210.00 and gave the stock an “underweight” rating in a report on Thursday, May 29th. Barclays upped their price objective on Veeva Systems from $285.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday, May 29th. Robert W. Baird upped their price objective on Veeva Systems from $283.00 to $285.00 and gave the stock an “outperform” rating in a report on Thursday, March 6th. Finally, Piper Sandler upped their price objective on Veeva Systems from $255.00 to $325.00 and gave the stock an “overweight” rating in a report on Thursday, May 29th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $269.80.

Insiders Place Their Bets

In other Veeva Systems news, SVP Jonathan Faddis sold 787 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total transaction of $178,019.40. Following the transaction, the senior vice president now owns 8,668 shares of the company’s stock, valued at $1,960,701.60. This trade represents a 8.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Thomas D. Schwenger sold 1,200 shares of the firm’s stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $220.97, for a total value of $265,164.00. Following the completion of the sale, the insider now directly owns 25,889 shares in the company, valued at approximately $5,720,692.33. This trade represents a 4.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,869 shares of company stock valued at $1,284,917 in the last quarter. Insiders own 10.30% of the company’s stock.

Veeva Systems Stock Performance

NYSE:VEEV opened at $282.96 on Thursday. The company has a market capitalization of $46.04 billion, a price-to-earnings ratio of 69.87, a price-to-earnings-growth ratio of 1.89 and a beta of 0.96. Veeva Systems Inc. has a one year low of $176.41 and a one year high of $289.43. The stock has a 50-day simple moving average of $233.26 and a 200 day simple moving average of $229.03.

Veeva Systems (NYSE:VEEV) last released its earnings results on Wednesday, May 28th. The technology company reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.23. Veeva Systems had a return on equity of 13.56% and a net margin of 25.07%. The company had revenue of $759.04 million for the quarter, compared to the consensus estimate of $728.38 million. During the same quarter last year, the business posted $1.50 EPS. Veeva Systems’s quarterly revenue was up 16.7% compared to the same quarter last year. On average, 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.