Veeva Systems Inc. (NYSE:VEEV) Shares Purchased by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC increased its stake in shares of Veeva Systems Inc. (NYSE:VEEVFree Report) by 3.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,940 shares of the technology company’s stock after buying an additional 63 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Veeva Systems were worth $395,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. UMB Bank n.a. lifted its position in Veeva Systems by 2.5% during the third quarter. UMB Bank n.a. now owns 2,103 shares of the technology company’s stock worth $428,000 after buying an additional 51 shares in the last quarter. NewEdge Wealth LLC increased its stake in Veeva Systems by 0.6% during the third quarter. NewEdge Wealth LLC now owns 10,059 shares of the technology company’s stock worth $2,047,000 after acquiring an additional 60 shares during the last quarter. Penserra Capital Management LLC increased its stake in Veeva Systems by 9.3% during the fourth quarter. Penserra Capital Management LLC now owns 729 shares of the technology company’s stock worth $117,000 after acquiring an additional 62 shares during the last quarter. Toroso Investments LLC increased its stake in Veeva Systems by 4.9% during the third quarter. Toroso Investments LLC now owns 1,318 shares of the technology company’s stock worth $217,000 after acquiring an additional 62 shares during the last quarter. Finally, Cape Investment Advisory Inc. increased its stake in Veeva Systems by 3.0% during the third quarter. Cape Investment Advisory Inc. now owns 2,180 shares of the technology company’s stock worth $444,000 after acquiring an additional 64 shares during the last quarter. Hedge funds and other institutional investors own 80.07% of the company’s stock.

Veeva Systems Price Performance

VEEV opened at $216.76 on Friday. Veeva Systems Inc. has a 12 month low of $160.21 and a 12 month high of $225.49. The stock has a market capitalization of $34.90 billion, a price-to-earnings ratio of 62.29, a PEG ratio of 2.54 and a beta of 0.74. The business has a fifty day moving average price of $195.29 and a 200 day moving average price of $196.00.

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

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Barclays cut their target price on Veeva Systems from $220.00 to $213.00 and set an “overweight” rating for the company in a research note on Thursday, December 7th. Truist Financial reissued a “hold” rating and set a $227.00 target price on shares of Veeva Systems in a research note on Monday, November 13th. Raymond James cut their target price on Veeva Systems from $240.00 to $200.00 and set an “outperform” rating for the company in a research note on Friday, November 10th. Jefferies Financial Group started coverage on Veeva Systems in a research note on Friday, October 13th. They set a “buy” rating and a $265.00 target price for the company. Finally, JPMorgan Chase & Co. dropped their price objective on Veeva Systems from $188.00 to $183.00 and set a “neutral” rating for the company in a research note on Wednesday, November 29th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, Veeva Systems currently has a consensus rating of “Moderate Buy” and an average target price of $217.18.

Get Our Latest Report on Veeva Systems

Insiders Place Their Bets

In other Veeva Systems news, EVP Alan Mateo sold 6,280 shares of Veeva Systems stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $190.00, for a total transaction of $1,193,200.00. Following the completion of the sale, the executive vice president now directly owns 21,983 shares of the company’s stock, valued at approximately $4,176,770. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO Thomas D. Schwenger sold 1,238 shares of the business’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $210.02, for a total value of $260,004.76. Following the completion of the sale, the chief operating officer now directly owns 24,342 shares of the company’s stock, valued at approximately $5,112,306.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Alan Mateo sold 6,280 shares of the business’s stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $190.00, for a total value of $1,193,200.00. Following the completion of the sale, the executive vice president now directly owns 21,983 shares of the company’s stock, valued at $4,176,770. The disclosure for this sale can be found here. Insiders sold 40,819 shares of company stock valued at $7,520,033 in the last ninety days. Insiders own 10.98% of the company’s stock.

Veeva Systems Company 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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