Natixis Advisors L.P. Sells 218,676 Shares of Veeva Systems Inc. (NYSE:VEEV)

Natixis Advisors L.P. reduced its stake in Veeva Systems Inc. (NYSE:VEEV) by 77.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,624 shares of the technology company’s stock after selling 218,676 shares during the quarter. Natixis Advisors L.P.’s holdings in Veeva Systems were worth $12,056,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in VEEV. OFI Invest Asset Management bought a new stake in shares of Veeva Systems in the third quarter worth $25,000. Operose Advisors LLC bought a new stake in Veeva Systems during the 3rd quarter worth about $29,000. Parkside Financial Bank & Trust boosted its stake in shares of Veeva Systems by 81.9% during the 3rd quarter. Parkside Financial Bank & Trust now owns 171 shares of the technology company’s stock worth $35,000 after buying an additional 77 shares during the last quarter. Atticus Wealth Management LLC increased its position in shares of Veeva Systems by 500.0% in the third quarter. Atticus Wealth Management LLC now owns 180 shares of the technology company’s stock valued at $37,000 after acquiring an additional 150 shares during the last quarter. Finally, Nkcfo LLC raised its holdings in Veeva Systems by 54.7% during the third quarter. Nkcfo LLC now owns 232 shares of the technology company’s stock worth $47,000 after acquiring an additional 82 shares in the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on VEEV. Piper Sandler boosted their price target on Veeva Systems from $220.00 to $245.00 and gave the stock an “overweight” rating in a research report on Friday, March 1st. Citigroup increased their price target on shares of Veeva Systems from $240.00 to $264.00 and gave the company a “buy” rating in a research note on Friday, March 1st. KeyCorp boosted their price objective on shares of Veeva Systems from $232.00 to $250.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. The Goldman Sachs Group raised their target price on shares of Veeva Systems from $219.00 to $248.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Finally, Stifel Nicolaus boosted their price target on Veeva Systems from $205.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Veeva Systems presently has a consensus rating of “Moderate Buy” and an average target price of $234.90.

Veeva Systems Stock Up 1.1 %

Shares of NYSE:VEEV opened at $205.31 on Wednesday. Veeva Systems Inc. has a 12-month low of $160.21 and a 12-month high of $236.90. The company’s 50 day moving average price is $216.61 and its two-hundred day moving average price is $202.11. The firm has a market cap of $33.12 billion, a PE ratio of 63.76, a PEG ratio of 2.05 and a beta of 0.76.

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

Insider Activity at Veeva Systems

In other Veeva Systems news, EVP Alan Mateo sold 3,391 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The shares were 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 approximately $4,415,505.38. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Timothy S. Cabral sold 15,000 shares of the company’s stock in a transaction on 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Alan Mateo sold 3,391 shares of Veeva Systems stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $200.86, for a total value of $681,116.26. Following the completion of the transaction, the executive vice president now owns 21,983 shares in the company, valued at approximately $4,415,505.38. The disclosure for this sale can be found here. Insiders sold a total of 21,989 shares of company stock valued at $4,818,013 over the last quarter. 10.50% of the stock is owned by corporate insiders.

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.