Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Union Bancaire Privee UBP SA

Union Bancaire Privee UBP SA lessened its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 4.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,423 shares of the technology company’s stock after selling 843 shares during the period. Union Bancaire Privee UBP SA’s holdings in Veeva Systems were worth $3,656,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Centricity Wealth Management LLC acquired a new position in shares of Veeva Systems during the fourth quarter valued at approximately $25,000. Smithfield Trust Co increased its position in shares of Veeva Systems by 145.5% during the fourth quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock worth $27,000 after purchasing an additional 80 shares in the last quarter. Avion Wealth raised its stake in Veeva Systems by 635.0% in the 4th quarter. Avion Wealth now owns 147 shares of the technology company’s stock valued at $30,000 after purchasing an additional 127 shares during the last quarter. Venturi Wealth Management LLC raised its stake in Veeva Systems by 2,716.7% in the 4th quarter. Venturi Wealth Management LLC now owns 169 shares of the technology company’s stock valued at $36,000 after purchasing an additional 163 shares during the last quarter. Finally, Promus Capital LLC purchased a new position in Veeva Systems in the 4th quarter valued at $36,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Jonathan Faddis sold 787 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $226.20, for a total value of $178,019.40. Following the completion of the sale, the senior vice president now owns 8,668 shares in the company, valued at $1,960,701.60. This trade represents a 8.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Timothy S. Cabral sold 3,882 shares of the stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $216.83, for a total transaction of $841,734.06. Following the completion of the transaction, the director now directly owns 5,500 shares of the company’s stock, valued at approximately $1,192,565. This trade represents a 41.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,184 shares of company stock valued at $1,376,179. 10.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on VEEV shares. JPMorgan Chase & Co. boosted their price target on shares of Veeva Systems from $218.00 to $249.00 and gave the stock a “neutral” rating in a research report on Thursday, March 20th. Wells Fargo & Company boosted their price target on shares of Veeva Systems from $285.00 to $300.00 and gave the company an “overweight” rating in a research note on Thursday, May 29th. Citigroup increased their target price on Veeva Systems from $265.00 to $329.00 and gave the stock a “buy” rating in a research note on Friday, May 30th. Needham & Company LLC raised their price target on shares of Veeva Systems from $270.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, May 29th. Finally, Stifel Nicolaus upped their target price on shares of Veeva Systems from $272.00 to $295.00 and gave the stock a “buy” rating in a research note on Thursday, May 29th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $269.80.

Veeva Systems Trading Up 1.6%

Shares of NYSE VEEV opened at $288.76 on Thursday. The stock has a market cap of $46.98 billion, a P/E ratio of 71.30, a P/E/G ratio of 1.89 and a beta of 0.99. The stock has a 50 day moving average of $239.45 and a two-hundred day moving average of $231.56. Veeva Systems Inc. has a twelve month low of $176.41 and a twelve month high of $291.68.

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

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.