TimesSquare Capital Management LLC Sells 5,795 Shares of Veeva Systems Inc. (NYSE:VEEV)

TimesSquare Capital Management LLC decreased its position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 1.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 466,134 shares of the technology company's stock after selling 5,795 shares during the quarter. Veeva Systems accounts for approximately 1.5% of TimesSquare Capital Management LLC's investment portfolio, making the stock its 17th largest position. TimesSquare Capital Management LLC owned 0.29% of Veeva Systems worth $97,828,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Advisors Asset Management Inc. acquired a new position in Veeva Systems during the first quarter worth about $28,000. Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of Veeva Systems in the third quarter worth about $26,000. Blue Trust Inc. lifted its holdings in shares of Veeva Systems by 3,460.0% in the second quarter. Blue Trust Inc. now owns 178 shares of the technology company's stock worth $33,000 after acquiring an additional 173 shares during the last quarter. DT Investment Partners LLC bought a new position in shares of Veeva Systems in the second quarter worth about $35,000. Finally, Fairscale Capital LLC bought a new position in shares of Veeva Systems in the second quarter worth about $46,000. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. StockNews.com upgraded shares of Veeva Systems from a "hold" rating to a "buy" rating in a report on Saturday. Robert W. Baird dropped their price objective on shares of Veeva Systems from $251.00 to $245.00 and set an "outperform" rating for the company in a report on Monday, October 28th. Citigroup raised their price objective on shares of Veeva Systems from $256.00 to $273.00 and gave the company a "buy" rating in a report on Tuesday, August 27th. Raymond James raised their price objective on shares of Veeva Systems from $230.00 to $235.00 and gave the company an "outperform" rating in a report on Thursday, August 29th. Finally, Royal Bank of Canada raised their price target on shares of Veeva Systems from $250.00 to $275.00 and gave the stock an "outperform" rating in a report on Friday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have given a buy rating to the company's stock. Based on data from MarketBeat, Veeva Systems presently has an average rating of "Moderate Buy" and an average price target of $237.00.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 2,353 shares of the firm's stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $200.00, for a total transaction of $470,600.00. Following the transaction, the senior vice president now directly owns 9,035 shares in the company, valued at approximately $1,807,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 10.50% of the company's stock.

Veeva Systems Trading Up 5.2 %

NYSE VEEV traded up $11.61 during mid-day trading on Friday, hitting $235.00. The company's stock had a trading volume of 2,472,493 shares, compared to its average volume of 752,313. The company's 50 day simple moving average is $213.98 and its 200 day simple moving average is $199.75. Veeva Systems Inc. has a twelve month low of $162.72 and a twelve month high of $240.68. The firm has a market capitalization of $38.05 billion, a price-to-earnings ratio of 62.67, a PEG ratio of 2.29 and a beta of 0.81.

Veeva Systems (NYSE:VEEV - Get Free Report) last posted its quarterly earnings results on Wednesday, August 28th. The technology company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.03. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. The business had revenue of $676.18 million during the quarter, compared to the consensus estimate of $667.21 million. As a group, research analysts forecast that Veeva Systems Inc. will post 4.21 EPS for the current 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.