Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC decreased its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 30.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 145,359 shares of the technology company’s stock after selling 63,800 shares during the quarter. Los Angeles Capital Management LLC owned about 0.09% of Veeva Systems worth $33,678,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Facet Wealth Inc. grew its holdings in Veeva Systems by 3.2% in the fourth quarter. Facet Wealth Inc. now owns 1,542 shares of the technology company’s stock valued at $323,000 after purchasing an additional 48 shares during the period. Yousif Capital Management LLC boosted its holdings in shares of Veeva Systems by 3.5% in the 4th quarter. Yousif Capital Management LLC now owns 1,777 shares of the technology company’s stock valued at $342,000 after purchasing an additional 60 shares during the last quarter. Personal CFO Solutions LLC grew its stake in shares of Veeva Systems by 5.9% during the 3rd quarter. Personal CFO Solutions LLC now owns 1,091 shares of the technology company’s stock valued at $222,000 after buying an additional 61 shares during the period. Quadrant Capital Group LLC increased its holdings in shares of Veeva Systems by 14.7% during the 4th quarter. Quadrant Capital Group LLC now owns 530 shares of the technology company’s stock worth $102,000 after buying an additional 68 shares during the last quarter. Finally, Parkside Financial Bank & Trust raised its position in shares of Veeva Systems by 81.9% in the 3rd quarter. Parkside Financial Bank & Trust now owns 171 shares of the technology company’s stock worth $35,000 after buying an additional 77 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.

Insider Buying and Selling at Veeva Systems

In related news, CFO Timothy S. Cabral sold 15,000 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $184.33, for a total value of $2,764,950.00. Following the sale, the chief financial officer now owns 8,391 shares of the company’s stock, valued at approximately $1,546,713.03. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Timothy S. Cabral sold 15,000 shares of the 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 completion of 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 filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Alan Mateo sold 3,391 shares of Veeva Systems stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $200.86, for a total value of $681,116.26. Following the sale, the executive vice president now directly owns 21,983 shares in the company, valued at approximately $4,415,505.38. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,989 shares of company stock worth $4,192,363. 10.50% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms recently commented on VEEV. StockNews.com raised Veeva Systems from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. Robert W. Baird lifted their price objective on Veeva Systems from $251.00 to $255.00 and gave the stock an “outperform” rating in a report on Wednesday, May 29th. JPMorgan Chase & Co. increased their target price on Veeva Systems from $183.00 to $222.00 and gave the company a “neutral” rating in a research note on Wednesday, March 13th. Raymond James restated an “outperform” rating and issued a $260.00 price target on shares of Veeva Systems in a research note on Tuesday, March 26th. Finally, Piper Sandler cut their price target on shares of Veeva Systems from $245.00 to $235.00 and set an “overweight” rating on the stock in a report on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Veeva Systems has a consensus rating of “Moderate Buy” and an average target price of $227.95.

Veeva Systems Price Performance

NYSE:VEEV opened at $178.74 on Thursday. The firm has a market capitalization of $28.89 billion, a P/E ratio of 52.73, a P/E/G ratio of 1.76 and a beta of 0.80. The business has a 50 day simple moving average of $197.15 and a 200 day simple moving average of $204.64. Veeva Systems Inc. has a 12-month low of $162.72 and a 12-month high of $236.90.

Veeva Systems Company 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.