Veeva Systems Inc. (NYSE:VEEV) Stake Boosted by SageView Advisory Group LLC

SageView Advisory Group LLC increased its position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 11,010.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 168,545 shares of the technology company's stock after purchasing an additional 167,028 shares during the quarter. Veeva Systems accounts for about 1.9% of SageView Advisory Group LLC's investment portfolio, making the stock its 14th largest holding. SageView Advisory Group LLC owned about 0.10% of Veeva Systems worth $39,050,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. DSM Capital Partners LLC bought a new position in Veeva Systems during the fourth quarter worth $29,000. First Financial Corp IN acquired a new stake in Veeva Systems in the first quarter worth $35,000. Larson Financial Group LLC increased its position in Veeva Systems by 1,153.8% in the first quarter. Larson Financial Group LLC now owns 163 shares of the technology company's stock worth $38,000 after buying an additional 150 shares during the period. Vermillion & White Wealth Management Group LLC acquired a new stake in Veeva Systems in the fourth quarter worth $32,000. Finally, American National Bank acquired a new stake in Veeva Systems in the fourth quarter worth $36,000. 88.20% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Alan Mateo sold 3,391 shares of the firm's stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $200.86, for a total value of $681,116.26. Following the transaction, the executive vice president now directly owns 21,983 shares of the company's stock, valued at approximately $4,415,505.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Veeva Systems news, CFO Timothy S. Cabral sold 15,000 shares of Veeva Systems stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $184.33, for a total value of $2,764,950.00. Following the transaction, the chief financial officer now directly owns 8,391 shares of the company's stock, valued at approximately $1,546,713.03. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Alan Mateo sold 3,391 shares of Veeva Systems stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $200.86, for a total value of $681,116.26. Following the completion of the transaction, the executive vice president now directly owns 21,983 shares in the company, valued at $4,415,505.38. The disclosure for this sale can be found here. 10.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on VEEV shares. Bank of America dropped their target price on Veeva Systems from $240.00 to $204.00 and set a "neutral" rating on the stock in a research report on Friday, May 31st. Royal Bank of Canada reissued an "outperform" rating and set a $250.00 price target on shares of Veeva Systems in a report on Friday, June 21st. BTIG Research initiated coverage on Veeva Systems in a report on Tuesday, July 9th. They set a "buy" rating and a $240.00 price target on the stock. Evercore ISI lowered their price target on Veeva Systems from $230.00 to $200.00 and set an "in-line" rating on the stock in a report on Friday, May 31st. Finally, Truist Financial lowered their price target on Veeva Systems from $203.00 to $197.00 and set a "hold" rating on the stock in a report on Friday, June 14th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $228.27.

Veeva Systems Trading Down 0.9 %

NYSE VEEV traded down $1.61 during trading on Thursday, reaching $180.32. 738,685 shares of the company's stock were exchanged, compared to its average volume of 988,258. Veeva Systems Inc. has a fifty-two week low of $162.72 and a fifty-two week high of $236.90. The firm has a market capitalization of $29.15 billion, a PE ratio of 54.02, a P/E/G ratio of 1.83 and a beta of 0.80. The company's fifty day simple moving average is $190.12 and its 200-day simple moving average is $204.81.

Veeva Systems (NYSE:VEEV - Get Free Report) last announced its quarterly earnings results on Thursday, May 30th. The technology company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.10. The business had revenue of $650.35 million during the quarter, compared to analyst estimates of $641.73 million. Veeva Systems had a return on equity of 12.74% and a net margin of 22.34%. Equities analysts forecast that Veeva Systems Inc. will post 4.19 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.

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