Veeva Systems Inc. (NYSE:VEEV) Holdings Trimmed by Benjamin F. Edwards & Company Inc.

Benjamin F. Edwards & Company Inc. lowered its holdings in Veeva Systems Inc. (NYSE:VEEV) by 5.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,204 shares of the technology company’s stock after selling 311 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Veeva Systems were worth $952,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in Veeva Systems by 7.5% during the 1st quarter. Vanguard Group Inc. now owns 14,150,070 shares of the technology company’s stock worth $3,278,430,000 after acquiring an additional 991,208 shares during the period. Van ECK Associates Corp grew its position in Veeva Systems by 9.0% during the first quarter. Van ECK Associates Corp now owns 1,934,150 shares of the technology company’s stock valued at $448,123,000 after purchasing an additional 159,085 shares in the last quarter. TD Asset Management Inc increased its stake in Veeva Systems by 17.5% in the 1st quarter. TD Asset Management Inc now owns 1,227,223 shares of the technology company’s stock valued at $284,335,000 after buying an additional 182,762 shares during the period. Swedbank AB lifted its position in Veeva Systems by 4.9% in the 2nd quarter. Swedbank AB now owns 1,031,064 shares of the technology company’s stock worth $188,695,000 after buying an additional 48,402 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Veeva Systems by 1,122.3% during the 2nd quarter. Principal Financial Group Inc. now owns 912,223 shares of the technology company’s stock valued at $166,946,000 after buying an additional 837,593 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Trading Down 1.8 %

Shares of NYSE:VEEV opened at $211.04 on Tuesday. The business’s 50 day moving average is $199.76 and its 200-day moving average is $201.29. The firm has a market capitalization of $34.12 billion, a PE ratio of 62.25, a PEG ratio of 2.12 and a beta of 0.81. Veeva Systems Inc. has a 1-year low of $162.72 and a 1-year high of $236.90.

Veeva Systems (NYSE:VEEV) last announced 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. The firm had revenue of $676.18 million for the quarter, compared to analyst estimates of $667.21 million. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. On average, sell-side analysts predict that Veeva Systems Inc. will post 4.2 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently issued reports on VEEV shares. BTIG Research assumed coverage on Veeva Systems in a research report on Tuesday, July 9th. They set a “buy” rating and a $240.00 price objective for the company. Evercore ISI lowered their price target on Veeva Systems from $230.00 to $200.00 and set an “in-line” rating for the company in a research note on Friday, May 31st. Guggenheim increased their price objective on Veeva Systems from $211.00 to $233.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Raymond James lifted their target price on shares of Veeva Systems from $230.00 to $235.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Finally, Citigroup increased their price target on shares of Veeva Systems from $256.00 to $273.00 and gave the stock a “buy” rating in a research note on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, Veeva Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $229.96.

Insider Transactions at Veeva Systems

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 value of $470,600.00. Following the sale, the senior vice president now owns 9,035 shares of the company’s stock, valued at approximately $1,807,000. The sale was disclosed in a legal filing with the SEC, which is available through this link. 10.50% of the stock is currently owned by insiders.

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.