Paragon Advisors LLC Decreases Holdings in Veeva Systems Inc. (NYSE:VEEV)

Paragon Advisors LLC trimmed its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 13.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,929 shares of the technology company’s stock after selling 1,816 shares during the period. Veeva Systems accounts for about 1.0% of Paragon Advisors LLC’s holdings, making the stock its 29th largest holding. Paragon Advisors LLC’s holdings in Veeva Systems were worth $2,763,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. GAMMA Investing LLC lifted its holdings in Veeva Systems by 13.8% during the 1st quarter. GAMMA Investing LLC now owns 1,823 shares of the technology company’s stock worth $422,000 after buying an additional 221 shares during the last quarter. Pallas Capital Advisors LLC lifted its holdings in shares of Veeva Systems by 11.1% in the 1st quarter. Pallas Capital Advisors LLC now owns 2,627 shares of the technology company’s stock valued at $608,000 after purchasing an additional 262 shares during the last quarter. CHICAGO TRUST Co NA lifted its holdings in shares of Veeva Systems by 17.3% in the 1st quarter. CHICAGO TRUST Co NA now owns 2,205 shares of the technology company’s stock valued at $511,000 after purchasing an additional 325 shares during the last quarter. Revolve Wealth Partners LLC purchased a new stake in shares of Veeva Systems in the 1st quarter valued at about $216,000. Finally, Wedmont Private Capital lifted its holdings in shares of Veeva Systems by 4.1% in the 1st quarter. Wedmont Private Capital now owns 2,200 shares of the technology company’s stock valued at $480,000 after purchasing an additional 87 shares during the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Morgan Stanley boosted their target price on Veeva Systems from $201.00 to $210.00 and gave the company an “underweight” rating in a report on Thursday, May 29th. Raymond James boosted their target price on Veeva Systems from $285.00 to $310.00 and gave the company an “outperform” rating in a report on Thursday, May 29th. JPMorgan Chase & Co. boosted their target price on Veeva Systems from $218.00 to $249.00 and gave the company a “neutral” rating in a report on Thursday, March 20th. Barclays boosted their target price on Veeva Systems from $285.00 to $300.00 and gave the company an “overweight” rating in a report on Thursday, May 29th. Finally, UBS Group boosted their target price on Veeva Systems from $250.00 to $285.00 and gave the company a “neutral” rating in a report on Thursday, May 29th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, Veeva Systems currently has an average rating of “Moderate Buy” and a consensus price target of $269.80.

Veeva Systems Trading Down 0.9%

NYSE VEEV opened at $282.86 on Tuesday. The business’s 50 day moving average is $236.70 and its two-hundred day moving average is $230.79. Veeva Systems Inc. has a 12-month low of $176.41 and a 12-month high of $291.68. The stock has a market capitalization of $46.02 billion, a price-to-earnings ratio of 69.84, a PEG ratio of 1.89 and a beta of 0.99.

Veeva Systems (NYSE:VEEV) last released its earnings results on Wednesday, May 28th. The technology company reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.23. Veeva Systems had a return on equity of 13.56% and a net margin of 25.07%. The company had revenue of $759.04 million for the quarter, compared to analysts’ expectations of $728.38 million. During the same quarter in the previous year, the firm posted $1.50 EPS. The firm’s quarterly revenue was up 16.7% on a year-over-year basis. Equities analysts forecast that Veeva Systems Inc. will post 4.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Thomas D. Schwenger sold 1,200 shares of the company’s stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $220.97, for a total value of $265,164.00. Following the sale, the insider now owns 25,889 shares in the company, valued at $5,720,692.33. This represents a 4.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Timothy S. Cabral sold 3,882 shares of the company’s stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $216.83, for a total value of $841,734.06. Following the completion of the sale, the director now owns 5,500 shares in the company, valued at approximately $1,192,565. This represents a 41.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,184 shares of company stock worth $1,376,179 in the last quarter. Company insiders own 10.30% of the company’s stock.

Veeva Systems 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.