Cetera Advisor Networks LLC Sells 1,466 Shares of Veeva Systems Inc. (NYSE:VEEV)

Cetera Advisor Networks LLC reduced its stake in Veeva Systems Inc. (NYSE:VEEV) by 60.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 968 shares of the technology company’s stock after selling 1,466 shares during the period. Cetera Advisor Networks LLC’s holdings in Veeva Systems were worth $264,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Glenmede Trust Co. NA boosted its position in shares of Veeva Systems by 68.2% in the 4th quarter. Glenmede Trust Co. NA now owns 3,876 shares of the technology company’s stock worth $1,054,000 after purchasing an additional 1,571 shares during the last quarter. Alyeska Investment Group L.P. acquired a new stake in Veeva Systems during the 4th quarter worth $12,225,000. Morgan Stanley raised its stake in Veeva Systems by 3.9% during the 4th quarter. Morgan Stanley now owns 15,184,744 shares of the technology company’s stock worth $4,134,047,000 after buying an additional 573,773 shares during the period. Ameritas Investment Company LLC raised its stake in Veeva Systems by 7.0% during the 4th quarter. Ameritas Investment Company LLC now owns 16,708 shares of the technology company’s stock worth $4,549,000 after buying an additional 1,088 shares during the period. Finally, Advisors Capital Management LLC raised its stake in Veeva Systems by 21.6% during the 4th quarter. Advisors Capital Management LLC now owns 6,452 shares of the technology company’s stock worth $1,756,000 after buying an additional 1,148 shares during the period. Institutional investors and hedge funds own 77.54% of the company’s stock.

In other news, EVP Alan Mateo sold 2,666 shares of the business’s stock in a transaction that occurred on Friday, February 5th. The stock was sold at an average price of $290.21, for a total transaction of $773,699.86. Following the completion of the sale, the executive vice president now owns 4,610 shares in the company, valued at $1,337,868.10. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CMO Eleni Nitsa Zuppas sold 352 shares of the business’s stock in a transaction that occurred on Monday, April 5th. The stock was sold at an average price of $265.98, for a total value of $93,624.96. Following the sale, the chief marketing officer now owns 9,071 shares of the company’s stock, valued at approximately $2,412,704.58. The disclosure for this sale can be found here. Insiders have sold 10,564 shares of company stock valued at $2,908,213 in the last quarter. 14.38% of the stock is currently owned by corporate insiders.

Several analysts recently commented on VEEV shares. Morgan Stanley raised their price objective on Veeva Systems from $332.00 to $340.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 9th. DA Davidson lifted their price target on Veeva Systems from $325.00 to $350.00 in a research note on Wednesday, March 3rd. Raymond James reissued a “buy” rating on shares of Veeva Systems in a research note on Wednesday, March 31st. Citigroup lifted their price target on Veeva Systems from $320.00 to $335.00 and gave the company a “buy” rating in a research note on Wednesday, March 10th. Finally, Truist lifted their price target on Veeva Systems from $320.00 to $355.00 in a research note on Wednesday, March 3rd. One research analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $299.04.

Veeva Systems stock opened at $260.38 on Thursday. Veeva Systems Inc. has a 52 week low of $152.24 and a 52 week high of $325.54. The stock has a market capitalization of $39.44 billion, a P/E ratio of 121.67, a PEG ratio of 9.41 and a beta of 0.84. The stock has a 50-day simple moving average of $270.06 and a 200 day simple moving average of $279.14.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings results on Monday, March 1st. The technology company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.10. Veeva Systems had a return on equity of 15.73% and a net margin of 24.88%. The business had revenue of $396.80 million during the quarter, compared to analysts’ expectations of $380.20 million. During the same quarter last year, the company posted $0.54 earnings per share. Veeva Systems’s quarterly revenue was up 27.4% on a year-over-year basis. On average, sell-side analysts anticipate that Veeva Systems Inc. will post 1.95 earnings per share for the current year.

Veeva Systems Profile

Veeva Systems Inc provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, the Middle East, Africa, and Latin America. The company offers Veeva Commercial Cloud, a suite of multichannel customer relationship management applications, commercial data warehouse, allocation and alignment applications, master data management application, and data and services; and Veeva Vault, a cloud-based enterprise content and data management applications for managing commercial functions, including medical, sales, and marketing, as well as research and development functions, such as clinical, regulatory, quality, and safety.

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

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