AE Wealth Management LLC Has $2.23 Million Position in Veeva Systems Inc. (NYSE:VEEV)

AE Wealth Management LLC cut its position in Veeva Systems Inc. (NYSE:VEEV) by 5.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,209 shares of the technology company’s stock after selling 739 shares during the period. AE Wealth Management LLC’s holdings in Veeva Systems were worth $2,234,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Advisors Asset Management Inc. bought a new stake in shares of Veeva Systems in the first quarter worth about $28,000. DSM Capital Partners LLC acquired a new stake in Veeva Systems during the 4th quarter worth approximately $29,000. Vermillion & White Wealth Management Group LLC bought a new position in Veeva Systems in the fourth quarter valued at approximately $32,000. Blue Trust Inc. boosted 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 valued at $33,000 after buying an additional 173 shares during the period. Finally, First Financial Corp IN bought a new stake in shares of Veeva Systems during the first quarter worth $35,000. 88.20% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on VEEV. Morgan Stanley reduced their price objective on Veeva Systems from $210.00 to $173.00 and set an “underweight” rating for the company in a research report on Friday, May 31st. BTIG Research started coverage on shares of Veeva Systems in a research note on Tuesday, July 9th. They set a “buy” rating and a $240.00 price target for the company. Needham & Company LLC reissued a “buy” rating and issued a $260.00 price objective on shares of Veeva Systems in a research report on Thursday, August 29th. Canaccord Genuity Group decreased their target price on shares of Veeva Systems from $220.00 to $210.00 and set a “hold” rating for the company in a research report on Friday, May 31st. Finally, Evercore ISI cut their price target on shares of Veeva Systems from $230.00 to $200.00 and set an “in-line” rating on the stock in a research report on Friday, May 31st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $229.96.

Veeva Systems Trading Down 1.8 %

Shares of NYSE VEEV opened at $211.04 on Tuesday. The company has a market cap of $34.12 billion, a price-to-earnings ratio of 62.25, a PEG ratio of 2.12 and a beta of 0.81. Veeva Systems Inc. has a 12 month low of $162.72 and a 12 month high of $236.90. The stock has a 50-day moving average price of $199.76 and a two-hundred day moving average price of $201.29.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Wednesday, August 28th. The technology company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $667.21 million. On average, sell-side analysts predict that Veeva Systems Inc. will post 4.2 earnings per share for the current year.

Insider Activity

In related news, SVP Jonathan Faddis sold 2,353 shares of the business’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 sale, the senior vice president now owns 9,035 shares in the company, valued at approximately $1,807,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 10.50% of the stock is owned by corporate insiders.

About Veeva Systems

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.