Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Susquehanna Fundamental Investments LLC

Susquehanna Fundamental Investments LLC cut its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 50.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,950 shares of the technology company’s stock after selling 42,832 shares during the period. Susquehanna Fundamental Investments LLC’s holdings in Veeva Systems were worth $7,677,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Advisors Asset Management Inc. purchased a new position in Veeva Systems in the first quarter valued at about $28,000. First Financial Corp IN acquired a new position in shares of Veeva Systems in the 1st quarter valued at approximately $35,000. Larson Financial Group LLC boosted its stake in shares of Veeva Systems by 1,153.8% during the 1st quarter. Larson Financial Group LLC now owns 163 shares of the technology company’s stock valued at $38,000 after buying an additional 150 shares during the last quarter. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Veeva Systems during the fourth quarter worth approximately $32,000. Finally, Blue Trust Inc. increased its stake 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 buying an additional 173 shares during the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Veeva Systems

In other 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 directly owns 9,035 shares of the company’s stock, valued at $1,807,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 10.50% of the company’s stock.

Veeva Systems Trading Up 0.7 %

Shares of NYSE VEEV opened at $210.85 on Friday. Veeva Systems Inc. has a twelve month low of $162.72 and a twelve month high of $236.90. The firm has a 50-day moving average of $201.77 and a two-hundred day moving average of $200.91. The company has a market capitalization of $34.14 billion, a price-to-earnings ratio of 62.20, a PEG ratio of 2.02 and a beta of 0.81.

Veeva Systems (NYSE:VEEV) last released its earnings results on Wednesday, August 28th. The technology company reported $1.07 EPS for the quarter, beating the consensus estimate of $1.04 by $0.03. The business had revenue of $676.18 million during 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%. As a group, research analysts predict that Veeva Systems Inc. will post 4.21 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have weighed in on VEEV. TD Cowen raised their price objective on shares of Veeva Systems from $180.00 to $192.00 and gave the stock a “hold” rating in a report on Thursday, August 29th. Robert W. Baird lifted their price target on Veeva Systems from $245.00 to $251.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Raymond James upped their price objective on Veeva Systems from $230.00 to $235.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. BTIG Research began coverage on Veeva Systems in a research report on Tuesday, July 9th. They issued a “buy” rating and a $240.00 target price for the company. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $260.00 price target on shares of Veeva Systems in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $229.96.

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.