New York Life Investment Management LLC Cuts Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

New York Life Investment Management LLC trimmed its stake in shares of Veeva Systems Inc. (NYSE:VEEVFree Report) by 10.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,354 shares of the technology company’s stock after selling 282 shares during the quarter. New York Life Investment Management LLC’s holdings in Veeva Systems were worth $479,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. OFI Invest Asset Management bought a new stake in shares of Veeva Systems during the third quarter valued at about $25,000. Rise Advisors LLC increased its holdings in Veeva Systems by 424.0% during the 3rd quarter. Rise Advisors LLC now owns 131 shares of the technology company’s stock worth $27,000 after acquiring an additional 106 shares during the period. Nkcfo LLC purchased a new stake in Veeva Systems in the 2nd quarter worth approximately $30,000. Resurgent Financial Advisors LLC purchased a new stake in Veeva Systems in the 4th quarter worth approximately $33,000. Finally, First Pacific Advisors LP bought a new position in Veeva Systems in the 2nd quarter valued at $35,000. Hedge funds and other institutional investors own 80.07% of the company’s stock.

Insiders Place Their Bets

In other news, Director Timothy S. Cabral sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $168.74, for a total transaction of $1,687,400.00. Following the transaction, the director now directly owns 43,391 shares of the company’s stock, valued at $7,321,797.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Veeva Systems news, Director Timothy S. Cabral sold 10,000 shares of the business’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $168.74, for a total transaction of $1,687,400.00. Following the transaction, the director now directly owns 43,391 shares of the company’s stock, valued at approximately $7,321,797.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CMO Eleni Nitsa Zuppas sold 4,350 shares of the company’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $192.61, for a total transaction of $837,853.50. Following the completion of the transaction, the chief marketing officer now owns 19,057 shares of the company’s stock, valued at $3,670,568.77. The disclosure for this sale can be found here. In the last 90 days, insiders sold 40,819 shares of company stock worth $7,520,033. 10.98% of the stock is currently owned by company insiders.

Veeva Systems Stock Up 0.6 %

Shares of NYSE VEEV opened at $216.76 on Friday. The firm’s fifty day moving average is $195.29 and its 200 day moving average is $196.00. Veeva Systems Inc. has a 52 week low of $160.21 and a 52 week high of $225.49. The company has a market cap of $34.90 billion, a price-to-earnings ratio of 62.29, a PEG ratio of 2.54 and a beta of 0.74.

Veeva Systems (NYSE:VEEVGet Free Report) last released its quarterly earnings data on Wednesday, December 6th. The technology company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.05. The firm had revenue of $616.51 million for the quarter, compared to analysts’ expectations of $615.98 million. Veeva Systems had a net margin of 24.68% and a return on equity of 10.91%. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.69 earnings per share. Equities research analysts anticipate that Veeva Systems Inc. will post 2.84 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on VEEV. Jefferies Financial Group assumed coverage on shares of Veeva Systems in a report on Friday, October 13th. They issued a “buy” rating and a $265.00 price target on the stock. Truist Financial reiterated a “hold” rating and set a $227.00 price target on shares of Veeva Systems in a research report on Monday, November 13th. Royal Bank of Canada upped their price objective on shares of Veeva Systems from $225.00 to $250.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 16th. Wells Fargo & Company raised shares of Veeva Systems from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $211.00 to $229.00 in a research note on Wednesday, October 25th. Finally, StockNews.com cut shares of Veeva Systems from a “buy” rating to a “hold” rating in a research note on Thursday, November 23rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $217.18.

Get Our Latest Stock Analysis on VEEV

Veeva Systems Profile

(Free Report)

Veeva Systems Inc provides cloud-based software for the life sciences industry. It offers Veeva Commercial Cloud, a suite of software and data 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.

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

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