Clear Harbor Asset Management LLC Sells 917 Shares of Veeva Systems Inc. $VEEV

Clear Harbor Asset Management LLC decreased its holdings in Veeva Systems Inc. (NYSE:VEEV) by 10.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,000 shares of the technology company’s stock after selling 917 shares during the period. Clear Harbor Asset Management LLC’s holdings in Veeva Systems were worth $2,304,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. TFB Advisors LLC lifted its holdings in Veeva Systems by 1.2% during the 1st quarter. TFB Advisors LLC now owns 3,586 shares of the technology company’s stock valued at $831,000 after buying an additional 44 shares in the last quarter. Triangle Securities Wealth Management increased its position in shares of Veeva Systems by 0.8% during the second quarter. Triangle Securities Wealth Management now owns 5,782 shares of the technology company’s stock worth $1,665,000 after acquiring an additional 45 shares during the period. Marks Group Wealth Management Inc raised its stake in shares of Veeva Systems by 3.3% during the first quarter. Marks Group Wealth Management Inc now owns 1,427 shares of the technology company’s stock valued at $331,000 after acquiring an additional 46 shares in the last quarter. Harbour Investments Inc. grew its stake in Veeva Systems by 7.6% in the first quarter. Harbour Investments Inc. now owns 789 shares of the technology company’s stock worth $183,000 after purchasing an additional 56 shares in the last quarter. Finally, Parallel Advisors LLC grew its stake in Veeva Systems by 4.7% in the second quarter. Parallel Advisors LLC now owns 1,236 shares of the technology company’s stock worth $356,000 after purchasing an additional 56 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors.

Insider Transactions at Veeva Systems

In other Veeva Systems news, Director Priscilla Hung sold 171 shares of the stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $284.40, for a total transaction of $48,632.40. Following the transaction, the director owned 3,966 shares in the company, valued at approximately $1,127,930.40. This represents a 4.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Jonathan Faddis sold 720 shares of the business’s stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $285.62, for a total value of $205,646.40. Following the completion of the sale, the senior vice president owned 7,902 shares of the company’s stock, valued at $2,256,969.24. This trade represents a 8.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,063 shares of company stock worth $302,955 over the last 90 days. Insiders own 10.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on VEEV. KeyCorp lifted their target price on Veeva Systems from $285.00 to $325.00 and gave the company an “overweight” rating in a research report on Monday, July 14th. Wall Street Zen upgraded Veeva Systems from a “hold” rating to a “buy” rating in a report on Friday, May 30th. Barclays upped their price objective on shares of Veeva Systems from $300.00 to $325.00 and gave the stock an “overweight” rating in a research note on Thursday, August 28th. Raymond James Financial reiterated an “outperform” rating and set a $340.00 target price (up from $310.00) on shares of Veeva Systems in a report on Thursday, August 28th. Finally, Mizuho boosted their price target on shares of Veeva Systems from $295.00 to $325.00 and gave the company an “outperform” rating in a report on Friday, August 29th. Seventeen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $301.48.

Veeva Systems Stock Performance

Shares of NYSE VEEV opened at $276.98 on Monday. The company has a market capitalization of $45.40 billion, a PE ratio of 56.87, a price-to-earnings-growth ratio of 2.15 and a beta of 0.95. The company’s fifty day moving average price is $280.65 and its 200 day moving average price is $259.41. Veeva Systems Inc. has a 1 year low of $200.30 and a 1 year high of $296.72.

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.