Wedbush Securities Inc. Has $294,000 Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Wedbush Securities Inc. lessened its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 12.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,271 shares of the technology company’s stock after selling 186 shares during the quarter. Wedbush Securities Inc.’s holdings in Veeva Systems were worth $294,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Leigh Baldwin & CO. LLC bought a new stake in Veeva Systems during the 4th quarter worth approximately $685,355,000. Norges Bank acquired a new position in shares of Veeva Systems in the fourth quarter valued at approximately $294,785,000. Stockbridge Partners LLC bought a new stake in shares of Veeva Systems during the fourth quarter worth $137,260,000. Marshall Wace LLP raised its holdings in shares of Veeva Systems by 413.3% during the fourth quarter. Marshall Wace LLP now owns 638,380 shares of the technology company’s stock worth $134,219,000 after acquiring an additional 514,004 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of Veeva Systems by 26,258.4% during the first quarter. GAMMA Investing LLC now owns 422,261 shares of the technology company’s stock worth $97,808,000 after acquiring an additional 420,659 shares during the period. 88.20% of the stock is currently owned by institutional investors.

Insider Activity

In other Veeva Systems news, Director Priscilla Hung sold 172 shares of the stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $283.00, for a total transaction of $48,676.00. Following the transaction, the director owned 4,137 shares in the company, valued at $1,170,771. This trade represents a 3.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jonathan Faddis sold 720 shares of the business’s stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $285.62, for a total transaction of $205,646.40. Following the completion of the sale, the senior vice president directly owned 7,902 shares of the company’s stock, valued at approximately $2,256,969.24. The trade was a 8.35% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,378 shares of company stock valued at $394,217. 10.30% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. KeyCorp upped their target price on shares of Veeva Systems from $285.00 to $325.00 and gave the stock an “overweight” rating in a research note on Monday, July 14th. Citigroup upped their price objective on Veeva Systems from $265.00 to $329.00 and gave the stock a “buy” rating in a research report on Friday, May 30th. Raymond James Financial increased their price objective on Veeva Systems from $285.00 to $310.00 and gave the stock an “outperform” rating in a report on Thursday, May 29th. Stifel Nicolaus boosted their target price on Veeva Systems from $272.00 to $295.00 and gave the company a “buy” rating in a research note on Thursday, May 29th. Finally, UBS Group upped their price target on Veeva Systems from $250.00 to $285.00 and gave the stock a “neutral” rating in a research report on Thursday, May 29th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $274.17.

Veeva Systems Price Performance

VEEV stock opened at $290.73 on Monday. Veeva Systems Inc. has a one year low of $177.41 and a one year high of $294.00. The stock has a market cap of $47.51 billion, a price-to-earnings ratio of 61.60, a price-to-earnings-growth ratio of 2.30 and a beta of 0.98. The company has a fifty day moving average price of $275.05 and a two-hundred day moving average price of $244.65.

Veeva Systems (NYSE:VEEV) last posted its earnings results on Wednesday, May 28th. The technology company reported $1.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.23. Veeva Systems had a net margin of 27.34% and a return on equity of 13.96%. The company had revenue of $759.04 million during the quarter, compared to analysts’ expectations of $728.38 million. During the same quarter last year, the company posted $1.50 EPS. Veeva Systems’s quarterly revenue was up 16.7% compared to the same quarter last year. Research analysts anticipate that Veeva Systems Inc. will post 4.35 EPS for the current fiscal 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.