Goodman Advisory Group LLC Lowers Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Goodman Advisory Group LLC reduced its stake in Veeva Systems Inc. (NYSE:VEEV) by 5.0% during the 4th quarter, HoldingsChannel reports. The firm owned 15,006 shares of the technology company’s stock after selling 795 shares during the period. Veeva Systems accounts for 1.0% of Goodman Advisory Group LLC’s portfolio, making the stock its 25th biggest position. Goodman Advisory Group LLC’s holdings in Veeva Systems were worth $2,889,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Sequoia Financial Advisors LLC boosted its stake in shares of Veeva Systems by 703.8% in the fourth quarter. Sequoia Financial Advisors LLC now owns 15,594 shares of the technology company’s stock valued at $3,002,000 after buying an additional 13,654 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of Veeva Systems by 5.2% in the fourth quarter. Nordea Investment Management AB now owns 163,247 shares of the technology company’s stock valued at $31,730,000 after buying an additional 8,007 shares in the last quarter. ICICI Prudential Asset Management Co Ltd boosted its stake in shares of Veeva Systems by 13.1% in the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 49,140 shares of the technology company’s stock valued at $9,460,000 after buying an additional 5,674 shares in the last quarter. Lecap Asset Management Ltd. purchased a new stake in shares of Veeva Systems in the fourth quarter valued at approximately $2,668,000. Finally, DekaBank Deutsche Girozentrale boosted its stake in shares of Veeva Systems by 26.3% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 98,377 shares of the technology company’s stock valued at $18,953,000 after buying an additional 20,488 shares in the last quarter. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Veeva Systems news, COO Thomas D. Schwenger sold 1,238 shares of the company’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $210.02, for a total transaction of $260,004.76. Following the completion of the sale, the chief operating officer now directly owns 24,342 shares in the company, valued at $5,112,306.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Veeva Systems news, Director Timothy S. Cabral sold 15,000 shares of the company’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 $5,287,301.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Thomas D. Schwenger sold 1,238 shares of the company’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 disclosure for this sale can be found here. 10.98% of the stock is currently owned by insiders.

Veeva Systems Stock Performance

Veeva Systems stock traded down $1.25 during trading on Wednesday, hitting $200.37. The company’s stock had a trading volume of 1,421,706 shares, compared to its average volume of 884,760. The stock has a market capitalization of $32.32 billion, a price-to-earnings ratio of 62.23, a P/E/G ratio of 2.04 and a beta of 0.74. The stock’s fifty day moving average is $222.17 and its 200 day moving average is $202.87. Veeva Systems Inc. has a 1-year low of $160.21 and a 1-year high of $236.90.

Veeva Systems (NYSE:VEEV) last released its earnings results on Thursday, February 29th. The technology company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.81 by $0.11. The firm had revenue of $630.62 million during the quarter, compared to analyst estimates 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 anticipate that Veeva Systems Inc. will post 4.11 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on VEEV shares. Raymond James restated an “outperform” rating and issued a $260.00 price target on shares of Veeva Systems in a research note on Tuesday, March 26th. Stifel Nicolaus boosted their target price on Veeva Systems from $205.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. The Goldman Sachs Group boosted their target price on Veeva Systems from $219.00 to $248.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Jefferies Financial Group boosted their target price on Veeva Systems from $225.00 to $270.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. Finally, KeyCorp boosted 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. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, Veeva Systems currently has a consensus rating of “Moderate Buy” and a consensus target price 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.