Sapient Capital LLC Decreases Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Sapient Capital LLC reduced its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 3.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,163 shares of the technology company’s stock after selling 127 shares during the quarter. Sapient Capital LLC’s holdings in Veeva Systems were worth $733,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of VEEV. Fifth Third Bancorp boosted its stake in shares of Veeva Systems by 5.0% in the first quarter. Fifth Third Bancorp now owns 8,970 shares of the technology company’s stock valued at $2,078,000 after purchasing an additional 429 shares during the period. Alhambra Investment Management LLC boosted its stake in shares of Veeva Systems by 23.3% in the first quarter. Alhambra Investment Management LLC now owns 1,521 shares of the technology company’s stock valued at $352,000 after purchasing an additional 287 shares during the period. CX Institutional purchased a new position in shares of Veeva Systems in the first quarter valued at $308,000. Handelsbanken Fonder AB boosted its stake in shares of Veeva Systems by 0.5% in the first quarter. Handelsbanken Fonder AB now owns 37,404 shares of the technology company’s stock valued at $8,664,000 after purchasing an additional 183 shares during the period. Finally, SG Americas Securities LLC boosted its stake in shares of Veeva Systems by 226.2% in the first quarter. SG Americas Securities LLC now owns 44,983 shares of the technology company’s stock valued at $10,419,000 after purchasing an additional 31,191 shares during the period. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on VEEV. Wall Street Zen upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a research note on Friday, May 30th. Wells Fargo & Company upped their target price 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. Stifel Nicolaus upped their price target on shares of Veeva Systems from $272.00 to $295.00 and gave the company a “buy” rating in a report on Thursday, May 29th. JPMorgan Chase & Co. upped their price target on shares of Veeva Systems from $218.00 to $249.00 and gave the company a “neutral” rating in a report on Thursday, March 20th. Finally, Needham & Company LLC upped their price target on shares of Veeva Systems from $270.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, May 29th. Two 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $269.80.

Veeva Systems Stock Performance

Shares of NYSE:VEEV opened at $281.85 on Friday. The stock has a market capitalization of $45.86 billion, a price-to-earnings ratio of 69.59, a price-to-earnings-growth ratio of 1.89 and a beta of 0.99. Veeva Systems Inc. has a 1-year low of $176.41 and a 1-year high of $291.69. The company’s fifty day moving average is $240.79 and its two-hundred day moving average is $231.94.

Veeva Systems (NYSE:VEEV) last issued its 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 company had revenue of $759.04 million for 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%. The firm’s revenue was up 16.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.50 earnings per share. Sell-side analysts expect that Veeva Systems Inc. will post 4.35 EPS for the current fiscal year.

Insider Transactions at Veeva Systems

In other news, SVP Jonathan Faddis sold 787 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $226.20, for a total transaction of $178,019.40. Following the completion of the transaction, the senior vice president now owns 8,668 shares in the company, valued at approximately $1,960,701.60. This represents 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 accessible through the SEC website. Also, Director Timothy S. Cabral sold 315 shares of the company’s stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $289.72, for a total transaction of $91,261.80. Following the transaction, the director now owns 5,500 shares of the company’s stock, valued at $1,593,460. This represents a 5.42% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,184 shares of company stock worth $1,376,179. Insiders own 10.30% of the company’s stock.

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.