Signaturefd LLC Sells 255 Shares of Veeva Systems Inc. (NYSE:VEEV)

Signaturefd LLC reduced its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 19.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,047 shares of the technology company’s stock after selling 255 shares during the quarter. Signaturefd LLC’s holdings in Veeva Systems were worth $202,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Wellington Management Group LLP increased its position in shares of Veeva Systems by 9.6% during the 3rd quarter. Wellington Management Group LLP now owns 3,315,304 shares of the technology company’s stock valued at $674,499,000 after purchasing an additional 289,133 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Veeva Systems by 34.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,045,414 shares of the technology company’s stock worth $416,139,000 after buying an additional 522,257 shares during the period. FMR LLC increased its position in Veeva Systems by 15.4% during the third quarter. FMR LLC now owns 1,833,135 shares of the technology company’s stock valued at $372,951,000 after acquiring an additional 244,599 shares during the last quarter. Blair William & Co. IL raised its stake in shares of Veeva Systems by 0.9% in the third quarter. Blair William & Co. IL now owns 1,466,121 shares of the technology company’s stock valued at $298,282,000 after acquiring an additional 12,709 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in shares of Veeva Systems by 4.1% in the 3rd quarter. Van ECK Associates Corp now owns 1,447,403 shares of the technology company’s stock worth $294,474,000 after acquiring an additional 57,520 shares during the last quarter. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

VEEV has been the topic of a number of recent analyst reports. Raymond James reissued an “outperform” rating and issued a $260.00 price objective on shares of Veeva Systems in a research report on Tuesday, March 26th. Jefferies Financial Group raised their price target on Veeva Systems from $225.00 to $270.00 and gave the stock a “buy” rating in a research note on Monday, March 4th. Truist Financial upped 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. KeyCorp lifted their target price on Veeva Systems from $232.00 to $250.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 5th. Finally, Stifel Nicolaus upped their price target on shares of Veeva Systems from $205.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $234.90.

Insider Buying and Selling

In other news, EVP Alan Mateo sold 3,391 shares of the stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $200.86, for a total value of $681,116.26. Following the transaction, the executive vice president now directly owns 21,983 shares of the company’s stock, valued at $4,415,505.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Veeva Systems news, SVP Jonathan Faddis sold 3,598 shares of the company’s stock in a transaction on 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 directly owns 10,668 shares of the company’s stock, valued at $2,212,756.56. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Alan Mateo sold 3,391 shares of the stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $200.86, for a total value of $681,116.26. Following the sale, the executive vice president now directly owns 21,983 shares in the company, valued at $4,415,505.38. The disclosure for this sale can be found here. Insiders sold 21,989 shares of company stock worth $4,818,013 in the last 90 days. Insiders own 10.98% of the company’s stock.

Veeva Systems Price Performance

Shares of VEEV stock opened at $200.91 on Friday. The stock’s fifty day moving average price is $219.27 and its 200 day moving average price is $202.55. Veeva Systems Inc. has a 1-year low of $160.21 and a 1-year high of $236.90. The company has a market cap of $32.41 billion, a price-to-earnings ratio of 62.39, a price-to-earnings-growth ratio of 2.03 and a beta of 0.74.

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

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.