Mutual of America Capital Management LLC Sells 251 Shares of Veeva Systems Inc. (NYSE:VEEV)

Mutual of America Capital Management LLC decreased its position in Veeva Systems Inc. (NYSE:VEEV) by 10.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,269 shares of the technology company’s stock after selling 251 shares during the period. Mutual of America Capital Management LLC’s holdings in Veeva Systems were worth $437,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. OFI Invest Asset Management purchased a new stake in Veeva Systems in the third quarter worth $25,000. Operose Advisors LLC purchased a new stake in Veeva Systems in the third quarter worth $29,000. Parkside Financial Bank & Trust lifted its stake in Veeva Systems by 81.9% in the third quarter. Parkside Financial Bank & Trust now owns 171 shares of the technology company’s stock worth $35,000 after acquiring an additional 77 shares during the period. Atticus Wealth Management LLC lifted its stake in Veeva Systems by 500.0% in the third quarter. Atticus Wealth Management LLC now owns 180 shares of the technology company’s stock worth $37,000 after acquiring an additional 150 shares during the period. Finally, Nkcfo LLC lifted its stake in Veeva Systems by 54.7% in the third quarter. Nkcfo LLC now owns 232 shares of the technology company’s stock worth $47,000 after acquiring an additional 82 shares during the period. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Performance

NYSE VEEV opened at $200.95 on Wednesday. Veeva Systems Inc. has a one year low of $160.21 and a one year high of $236.90. The stock has a 50-day moving average of $220.53 and a 200 day moving average of $202.75. The company has a market capitalization of $32.42 billion, a price-to-earnings ratio of 62.41, a PEG ratio of 2.00 and a beta of 0.74.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Thursday, February 29th. The technology company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.81 by $0.11. Veeva Systems had a return on equity of 11.26% and a net margin of 22.24%. The company had revenue of $630.62 million during the quarter, compared to the consensus estimate of $620.75 million. On average, equities analysts predict that Veeva Systems Inc. will post 4.11 earnings per share for the current fiscal year.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, Director Timothy S. Cabral sold 15,000 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $226.04, for a total transaction of $3,390,600.00. Following the completion of the sale, the director now directly owns 23,391 shares in the company, valued at approximately $5,287,301.64. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Veeva Systems news, Director Timothy S. Cabral sold 15,000 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $226.04, for a total transaction of $3,390,600.00. Following the completion of the sale, the director now directly owns 23,391 shares in the company, valued at approximately $5,287,301.64. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Jonathan Faddis sold 3,598 shares of the business’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $207.42, for a total value of $746,297.16. Following the sale, the senior vice president now owns 10,668 shares of the company’s stock, valued at $2,212,756.56. The disclosure for this sale can be found here. Insiders sold a total of 21,989 shares of company stock worth $4,818,013 in the last three months. 10.98% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently commented on the company. KeyCorp raised their price target on Veeva Systems from $232.00 to $250.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. Piper Sandler raised their price target on Veeva Systems from $220.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st. Truist Financial raised their price objective on Veeva Systems from $187.00 to $203.00 and gave the company a “hold” rating in a research report on Friday, March 1st. UBS Group raised their price objective on Veeva Systems from $185.00 to $235.00 and gave the company a “neutral” rating in a research report on Monday, February 26th. Finally, JPMorgan Chase & Co. raised their price objective on Veeva Systems from $183.00 to $222.00 and gave the company a “neutral” rating in a research report on Wednesday, March 13th. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, Veeva Systems currently has an average rating of “Moderate Buy” and an average price target of $234.90.

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.