Duality Advisers LP Sells 10,727 Shares of Veeva Systems Inc. (NYSE:VEEV)

Duality Advisers LP decreased its position in Veeva Systems Inc. (NYSE:VEEV) by 68.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,838 shares of the technology company’s stock after selling 10,727 shares during the quarter. Duality Advisers LP’s holdings in Veeva Systems were worth $931,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. UMB Bank n.a. raised its stake in shares of Veeva Systems by 2.5% in the third quarter. UMB Bank n.a. now owns 2,103 shares of the technology company’s stock worth $428,000 after buying an additional 51 shares during the period. NewEdge Wealth LLC raised its stake in shares of Veeva Systems by 0.6% in the third quarter. NewEdge Wealth LLC now owns 10,059 shares of the technology company’s stock worth $2,047,000 after buying an additional 60 shares during the period. Personal CFO Solutions LLC raised its stake in shares of Veeva Systems by 5.9% in the third quarter. Personal CFO Solutions LLC now owns 1,091 shares of the technology company’s stock worth $222,000 after buying an additional 61 shares during the period. Sequoia Financial Advisors LLC raised its stake in shares of Veeva Systems by 3.4% in the third quarter. Sequoia Financial Advisors LLC now owns 1,940 shares of the technology company’s stock worth $395,000 after buying an additional 63 shares during the period. Finally, Cape Investment Advisory Inc. raised its stake in shares of Veeva Systems by 3.0% in the third quarter. Cape Investment Advisory Inc. now owns 2,180 shares of the technology company’s stock worth $444,000 after buying an additional 64 shares during the period. Institutional investors own 88.20% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on VEEV. Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 target price on shares of Veeva Systems in a research report on Wednesday, March 27th. Barclays increased their target price on Veeva Systems from $240.00 to $245.00 and gave the stock an “overweight” rating in a research report on Friday, March 1st. Jefferies Financial Group increased 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. Oppenheimer restated an “outperform” rating and set a $225.00 price target on shares of Veeva Systems in a report on Thursday, February 22nd. Finally, Raymond James restated an “outperform” rating and set a $260.00 price target on shares of Veeva Systems in a report on Tuesday, March 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned 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 target price of $234.90.

Insider Activity

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

Veeva Systems Stock Performance

Shares of VEEV stock opened at $200.58 on Thursday. The stock has a 50 day moving average price of $220.12 and a 200 day moving average price of $202.74. The firm has a market capitalization of $32.36 billion, a P/E ratio of 62.29, a P/E/G ratio of 2.03 and a beta of 0.74. Veeva Systems Inc. has a 52-week low of $160.21 and a 52-week high of $236.90.

Veeva Systems (NYSE:VEEV) last issued its earnings results on Thursday, February 29th. The technology company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.11. Veeva Systems had a return on equity of 11.26% and a net margin of 22.24%. The business had revenue of $630.62 million during the quarter, compared to analyst estimates of $620.75 million. As a group, sell-side analysts forecast that Veeva Systems Inc. will post 4.11 EPS 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.