Moseley Investment Management Inc. Lowers Holdings in Veeva Systems Inc. (NYSE:VEEV)

Moseley Investment Management Inc. decreased its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 11.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,086 shares of the technology company’s stock after selling 136 shares during the quarter. Moseley Investment Management Inc.’s holdings in Veeva Systems were worth $252,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Veeva Systems by 14.9% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,560 shares of the technology company’s stock worth $3,061,000 after acquiring an additional 1,892 shares in the last quarter. Apollon Wealth Management LLC raised its holdings in shares of Veeva Systems by 17.5% during the fourth quarter. Apollon Wealth Management LLC now owns 2,552 shares of the technology company’s stock valued at $537,000 after purchasing an additional 380 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of Veeva Systems by 2.3% in the 4th quarter. Empowered Funds LLC now owns 4,265 shares of the technology company’s stock worth $897,000 after buying an additional 95 shares during the last quarter. Kestra Private Wealth Services LLC grew its stake in shares of Veeva Systems by 66.0% during the 4th quarter. Kestra Private Wealth Services LLC now owns 4,109 shares of the technology company’s stock valued at $864,000 after purchasing an additional 1,634 shares during the period. Finally, Wingate Wealth Advisors Inc. purchased a new position in shares of Veeva Systems during the 4th quarter worth $59,000. Institutional investors own 88.20% of the company’s stock.

Insider Activity at Veeva Systems

In related news, SVP Jonathan Faddis sold 787 shares of Veeva Systems stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total value of $178,019.40. Following the transaction, the senior vice president now directly owns 8,668 shares of the company’s stock, valued at $1,960,701.60. The trade was a 8.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Timothy S. Cabral sold 315 shares of the stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $289.72, for a total value of $91,261.80. Following the sale, the director now owns 5,500 shares of the company’s stock, valued at approximately $1,593,460. The trade was a 5.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,184 shares of company stock worth $1,376,179. Corporate insiders own 10.30% of the company’s stock.

Veeva Systems Stock Performance

Shares of NYSE VEEV opened at $282.86 on Tuesday. The stock has a market cap of $46.02 billion, a PE ratio of 69.84, a PEG ratio of 1.89 and a beta of 0.99. The business has a fifty day moving average of $236.70 and a two-hundred day moving average of $230.79. Veeva Systems Inc. has a 52-week low of $176.41 and a 52-week high of $291.68.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Wednesday, May 28th. The technology company reported $1.97 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.23. The firm had revenue of $759.04 million for the quarter, compared to analyst estimates of $728.38 million. Veeva Systems had a return on equity of 13.56% and a net margin of 25.07%. The business’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same period last year, the company earned $1.50 EPS. Analysts predict that Veeva Systems Inc. will post 4.35 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Stephens reiterated an “overweight” rating and set a $280.00 price objective on shares of Veeva Systems in a research report on Thursday, March 6th. Scotiabank upped their price objective on Veeva Systems from $240.00 to $245.00 and gave the company a “sector perform” rating in a research report on Thursday, March 6th. Wall Street Zen upgraded Veeva Systems from a “hold” rating to a “buy” rating in a report on Friday, May 30th. Piper Sandler raised their target price on shares of Veeva Systems from $255.00 to $325.00 and gave the company an “overweight” rating in a research report on Thursday, May 29th. Finally, Robert W. Baird lifted their price objective on shares of Veeva Systems from $283.00 to $285.00 and gave the stock an “outperform” rating in a research report on Thursday, March 6th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $269.80.

Veeva Systems Company Profile

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.