Davidson Capital Management Inc. Sells 557 Shares of Veeva Systems Inc. (NYSE:VEEV)

Davidson Capital Management Inc. lessened its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 3.7% during the 1st quarter, HoldingsChannel reports. The firm owned 14,478 shares of the technology company’s stock after selling 557 shares during the quarter. Veeva Systems comprises 0.9% of Davidson Capital Management Inc.’s holdings, making the stock its 13th biggest position. Davidson Capital Management Inc.’s holdings in Veeva Systems were worth $3,354,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of VEEV. Centricity Wealth Management LLC acquired a new stake in Veeva Systems in the 4th quarter valued at approximately $25,000. Smithfield Trust Co boosted its position in shares of Veeva Systems by 145.5% in the fourth quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock valued at $27,000 after acquiring an additional 80 shares during the period. Venturi Wealth Management LLC grew its stake in shares of Veeva Systems by 2,716.7% in the fourth quarter. Venturi Wealth Management LLC now owns 169 shares of the technology company’s stock worth $36,000 after acquiring an additional 163 shares during the last quarter. Promus Capital LLC acquired a new position in Veeva Systems during the 4th quarter valued at $36,000. Finally, Itau Unibanco Holding S.A. raised its stake in Veeva Systems by 389.2% during the 4th quarter. Itau Unibanco Holding S.A. now owns 181 shares of the technology company’s stock valued at $38,000 after purchasing an additional 144 shares during the last quarter. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Price Performance

VEEV stock opened at $281.24 on Thursday. The business has a fifty day moving average price of $246.34 and a 200 day moving average price of $233.45. Veeva Systems Inc. has a fifty-two week low of $176.56 and a fifty-two week high of $291.69. The stock has a market capitalization of $45.96 billion, a price-to-earnings ratio of 59.58, a P/E/G ratio of 2.21 and a beta of 0.99.

Veeva Systems (NYSE:VEEV) last announced its earnings results on Wednesday, May 28th. The technology company reported $1.97 EPS for the quarter, topping the consensus estimate of $1.74 by $0.23. Veeva Systems had a return on equity of 13.96% and a net margin of 27.34%. 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 prior year, the business earned $1.50 earnings per share. The business’s revenue for the quarter was up 16.7% on a year-over-year basis. On average, equities analysts expect that Veeva Systems Inc. will post 4.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

VEEV has been the topic of several research analyst reports. Raymond James Financial raised their price target on shares of Veeva Systems from $285.00 to $310.00 and gave the stock an “outperform” rating in a research report on Thursday, May 29th. Stephens reissued an “overweight” rating and set a $280.00 target price on shares of Veeva Systems in a research report on Thursday, March 6th. Barclays upped their price target on Veeva Systems from $285.00 to $300.00 and gave the company an “overweight” rating in a report on Thursday, May 29th. Mizuho lifted their price objective on Veeva Systems from $280.00 to $295.00 and gave the stock an “outperform” rating in a report on Monday, June 2nd. Finally, Wells Fargo & Company upped their target price on Veeva Systems from $285.00 to $300.00 and gave the company an “overweight” rating in a research note on Thursday, May 29th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $269.80.

Insiders Place Their Bets

In other news, SVP Jonathan Faddis sold 787 shares of Veeva Systems stock in a transaction 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 completion of the sale, the senior vice president now directly owns 8,668 shares of the company’s stock, valued at approximately $1,960,701.60. This trade represents a 8.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Timothy S. Cabral sold 315 shares of the company’s stock in a transaction on Friday, June 6th. The shares were sold at an average price of $289.72, for a total value of $91,261.80. Following the transaction, the director now directly owns 5,500 shares in the company, valued at $1,593,460. This trade represents a 5.42% 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 valued at $1,376,179 in the last 90 days. 10.30% of the stock is currently owned by insiders.

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.