Rehmann Capital Advisory Group Lowers Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Rehmann Capital Advisory Group reduced its stake in shares of Veeva Systems Inc. (NYSE:VEEVGet Rating) by 18.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 961 shares of the technology company’s stock after selling 219 shares during the period. Rehmann Capital Advisory Group’s holdings in Veeva Systems were worth $204,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in VEEV. Tyler Stone Wealth Management purchased a new position in shares of Veeva Systems during the 4th quarter valued at about $28,000. Jackson Grant Investment Advisers Inc. bought a new stake in Veeva Systems during the 1st quarter valued at approximately $28,000. Global Wealth Management Investment Advisory Inc. raised its stake in Veeva Systems by 1,230.0% during the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 133 shares of the technology company’s stock valued at $34,000 after purchasing an additional 123 shares during the period. TCI Wealth Advisors Inc. raised its stake in Veeva Systems by 71.4% during the 1st quarter. TCI Wealth Advisors Inc. now owns 180 shares of the technology company’s stock valued at $38,000 after purchasing an additional 75 shares during the period. Finally, Lansing Street Advisors bought a new stake in Veeva Systems during the 1st quarter valued at approximately $39,000. 80.14% of the stock is owned by hedge funds and other institutional investors.

Veeva Systems Stock Up 0.1 %

VEEV opened at $175.03 on Friday. The business has a fifty day moving average of $205.42 and a 200 day moving average of $193.98. Veeva Systems Inc. has a 52-week low of $152.04 and a 52-week high of $327.78. The stock has a market cap of $27.18 billion, a P/E ratio of 72.03, a PEG ratio of 4.12 and a beta of 0.76.

Veeva Systems (NYSE:VEEVGet Rating) last posted its quarterly earnings data on Wednesday, August 31st. The technology company reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.02. Veeva Systems had a return on equity of 13.40% and a net margin of 19.67%. The company had revenue of $534.20 million during the quarter, compared to analysts’ expectations of $530.70 million. During the same quarter in the previous year, the business earned $0.64 EPS. Veeva Systems’s revenue was up 17.3% compared to the same quarter last year. Equities analysts anticipate that Veeva Systems Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on VEEV shares. Canaccord Genuity Group decreased their target price on Veeva Systems from $200.00 to $185.00 and set a “hold” rating on the stock in a research note on Thursday, September 1st. Citigroup lifted their target price on Veeva Systems to $232.00 in a research note on Friday, June 3rd. Canaccord Genuity Group decreased their target price on Veeva Systems from $200.00 to $185.00 in a research note on Thursday, September 1st. Morgan Stanley lifted their target price on Veeva Systems from $175.00 to $190.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 16th. Finally, The Goldman Sachs Group reduced their price objective on Veeva Systems to $235.00 in a research note on Tuesday, September 6th. Seven equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $223.05.

Insider Activity at Veeva Systems

In other Veeva Systems news, Director Matthew J. Wallach sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $169.27, for a total value of $1,692,700.00. Following the completion of the sale, the director now directly owns 2,546 shares in the company, valued at approximately $430,961.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Veeva Systems news, Director Paul Edward Chamberlain sold 260 shares of the company’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $179.99, for a total value of $46,797.40. Following the completion of the sale, the director now directly owns 16,443 shares in the company, valued at approximately $2,959,575.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Matthew J. Wallach sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $169.27, for a total value of $1,692,700.00. Following the completion of the sale, the director now owns 2,546 shares of the company’s stock, valued at $430,961.42. The disclosure for this sale can be found here. Insiders sold a total of 15,260 shares of company stock worth $2,739,647 in the last quarter. 13.23% of the stock is owned by company insiders.

Veeva Systems Profile

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Veeva Systems Inc provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, the Middle East, Africa, and Latin America. The company offers Veeva Commercial Cloud, a suite of software, data, and analytics solutions, which include Veeva customer relationship management (CRM) and Veeva Medical CRM, Veeva CLM, Veeva CRM MyInsights, Veeva CLM, Veeva CRM Approved Email, Veeva CRM Engage, Veeva Align, Veeva CRM Events Management, Veeva Nitro, Veeva OpenData, Veeva Link, Veeva Network, Veeva Crossix, Veeva Data Cloud, and MyVeeva for Patients; and Veeva Vault, a cloud-based enterprise content and data management applications for managing commercial functions, including sales and marketing, and medical content and communications, as well as research and development functions, such as clinical, regulatory, quality, and safety.

See Also

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Institutional Ownership by Quarter for Veeva Systems (NYSE:VEEV)

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