Avanza Fonder AB Has $1.85 Million Holdings in Veeva Systems Inc. (NYSE:VEEV)

Avanza Fonder AB lessened its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 25.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,156 shares of the technology company’s stock after selling 2,779 shares during the quarter. Avanza Fonder AB’s holdings in Veeva Systems were worth $1,848,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Centricity Wealth Management LLC purchased a new stake in shares of Veeva Systems during the fourth quarter worth $25,000. Smithfield Trust Co grew its stake in Veeva Systems by 145.5% in the fourth quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock valued at $27,000 after purchasing an additional 80 shares in the last quarter. Avion Wealth increased its position in Veeva Systems by 635.0% in the 4th quarter. Avion Wealth now owns 147 shares of the technology company’s stock worth $30,000 after purchasing an additional 127 shares during the last quarter. Venturi Wealth Management LLC increased its position 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 worth $36,000 after purchasing an additional 163 shares during the last quarter. Finally, Promus Capital LLC purchased a new stake in shares of Veeva Systems during the 4th quarter worth about $36,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on VEEV shares. Stifel Nicolaus lifted their price target on Veeva Systems from $272.00 to $295.00 and gave the company a “buy” rating in a report on Thursday, May 29th. Mizuho lifted their target price on shares of Veeva Systems from $280.00 to $295.00 and gave the company an “outperform” rating in a research note on Monday, June 2nd. Raymond James boosted their target price on shares of Veeva Systems from $285.00 to $310.00 and gave the stock an “outperform” rating in a research report on Thursday, May 29th. KeyCorp cut their price target on shares of Veeva Systems from $260.00 to $250.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Finally, Piper Sandler lifted their price objective on shares of Veeva Systems from $255.00 to $325.00 and gave the company an “overweight” rating in a research note on Thursday, May 29th. Two research 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $269.80.

Veeva Systems Stock Up 1.6%

Shares of NYSE:VEEV opened at $288.76 on Thursday. The company has a market cap of $46.98 billion, a price-to-earnings ratio of 71.30, a PEG ratio of 1.89 and a beta of 0.99. The business has a 50 day moving average price of $239.45 and a 200 day moving average price of $231.56. Veeva Systems Inc. has a twelve month low of $176.41 and a twelve month high of $291.68.

Veeva Systems (NYSE:VEEV) last issued its quarterly 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. The company had revenue of $759.04 million during the quarter, compared to analyst estimates of $728.38 million. Veeva Systems had a return on equity of 13.56% and a net margin of 25.07%. The company’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.50 earnings per share. Analysts anticipate that Veeva Systems Inc. will post 4.35 EPS for the current year.

Insider Activity at Veeva Systems

In other Veeva Systems news, Director Timothy S. Cabral sold 315 shares of the firm’s stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $289.72, for a total value of $91,261.80. Following the completion of the sale, the director now owns 5,500 shares in the company, valued at approximately $1,593,460. This trade represents a 5.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas D. Schwenger sold 1,200 shares of Veeva Systems 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 sale, the insider now directly owns 25,889 shares in the company, valued at $5,720,692.33. The trade was a 4.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,184 shares of company stock worth $1,376,179 in the last ninety days. 10.30% of the stock is currently owned by insiders.

About Veeva Systems

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.