Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Park Place Capital Corp

Park Place Capital Corp lessened its stake in Veeva Systems Inc. (NYSE:VEEV) by 26.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,087 shares of the technology company’s stock after selling 398 shares during the quarter. Park Place Capital Corp’s holdings in Veeva Systems were worth $252,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Facet Wealth Inc. increased its holdings in shares of 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 last quarter. Yousif Capital Management LLC increased its holdings in shares of Veeva Systems by 3.5% in the fourth 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. Quadrant Capital Group LLC increased its holdings in shares of Veeva Systems by 14.7% in the fourth quarter. Quadrant Capital Group LLC now owns 530 shares of the technology company’s stock valued at $102,000 after purchasing an additional 68 shares during the last quarter. Wedmont Private Capital increased its holdings in shares of Veeva Systems by 3.8% in the first quarter. Wedmont Private Capital now owns 1,981 shares of the technology company’s stock valued at $429,000 after purchasing an additional 72 shares during the last quarter. Finally, Foundations Investment Advisors LLC increased its holdings in shares of Veeva Systems by 3.7% in the fourth quarter. Foundations Investment Advisors LLC now owns 2,250 shares of the technology company’s stock valued at $459,000 after purchasing an additional 80 shares during the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Trading Down 0.8 %

Shares of NYSE VEEV opened at $181.53 on Tuesday. The stock has a market cap of $29.34 billion, a P/E ratio of 53.55, a PEG ratio of 1.79 and a beta of 0.80. Veeva Systems Inc. has a 12-month low of $162.72 and a 12-month high of $236.90. The business’s fifty day simple moving average is $194.68 and its 200-day simple moving average is $205.28.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $641.73 million. Veeva Systems had a return on equity of 12.74% and a net margin of 22.34%. On average, equities analysts forecast that Veeva Systems Inc. will post 4.19 EPS for the current fiscal year.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, CFO Timothy S. Cabral sold 15,000 shares of the firm’s stock in a transaction 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 sale, the chief financial officer now directly owns 8,391 shares in the company, valued at $1,546,713.03. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Veeva Systems news, SVP Jonathan Faddis sold 3,598 shares of the firm’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $207.42, for a total value of $746,297.16. Following the sale, the senior vice president now directly owns 10,668 shares in the company, valued at $2,212,756.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Timothy S. Cabral sold 15,000 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief financial officer now owns 8,391 shares in the company, valued at $1,546,713.03. The disclosure for this sale can be found here. Insiders have sold a total of 21,989 shares of company stock worth $4,192,363 over the last ninety days. Corporate insiders own 10.50% of the company’s stock.

Wall Street Analysts Forecast Growth

VEEV has been the subject of several analyst reports. Bank of America lowered their price objective on Veeva Systems from $240.00 to $204.00 and set a “neutral” rating for the company in a research report on Friday, May 31st. Piper Sandler lowered their price objective on Veeva Systems from $245.00 to $235.00 and set an “overweight” rating for the company in a research report on Friday, May 31st. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 price objective on shares of Veeva Systems in a research report on Friday, May 31st. UBS Group lowered their price objective on Veeva Systems from $235.00 to $185.00 and set a “neutral” rating for the company in a research report on Friday, May 31st. Finally, JPMorgan Chase & Co. increased their price objective on Veeva Systems from $183.00 to $222.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 13th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $227.95.

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.