Veeva Systems Inc. $VEEV Shares Sold by Mirador Capital Partners LP

Mirador Capital Partners LP cut its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 1.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,870 shares of the technology company’s stock after selling 122 shares during the quarter. Mirador Capital Partners LP’s holdings in Veeva Systems were worth $1,978,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in VEEV. Abound Financial LLC acquired a new stake in shares of Veeva Systems in the first quarter valued at $25,000. ORG Partners LLC acquired a new stake in shares of Veeva Systems in the first quarter valued at $26,000. Golden State Wealth Management LLC raised its stake in shares of Veeva Systems by 152.9% in the first quarter. Golden State Wealth Management LLC now owns 129 shares of the technology company’s stock valued at $30,000 after acquiring an additional 78 shares in the last quarter. Wayfinding Financial LLC acquired a new stake in Veeva Systems in the 1st quarter valued at about $32,000. Finally, Key Financial Inc raised its position in Veeva Systems by 161.0% in the 1st quarter. Key Financial Inc now owns 154 shares of the technology company’s stock valued at $36,000 after purchasing an additional 95 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. KeyCorp increased their price target on Veeva Systems from $285.00 to $325.00 and gave the company an “overweight” rating in a research report on Monday, July 14th. Barclays raised their target price on shares of Veeva Systems from $300.00 to $325.00 and gave the company an “overweight” rating in a report on Thursday, August 28th. Raymond James Financial reaffirmed an “outperform” rating and issued a $340.00 target price (up previously from $310.00) on shares of Veeva Systems in a report on Thursday, August 28th. Wells Fargo & Company raised their price objective on shares of Veeva Systems from $300.00 to $326.00 and gave the company an “overweight” rating in a report on Tuesday, August 26th. Finally, Evercore ISI raised their price objective on shares of Veeva Systems from $285.00 to $295.00 and gave the company an “in-line” rating in a report on Thursday, August 28th. Seventeen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $301.48.

Insider Transactions at Veeva Systems

In other news, SVP Jonathan Faddis sold 720 shares of Veeva Systems stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $285.62, for a total transaction of $205,646.40. Following the sale, the senior vice president owned 7,902 shares in the company, valued at approximately $2,256,969.24. The trade was a 8.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Priscilla Hung sold 171 shares of Veeva Systems stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $284.40, for a total value of $48,632.40. Following the transaction, the director directly owned 3,966 shares in the company, valued at approximately $1,127,930.40. This trade represents a 4.13% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,063 shares of company stock worth $302,955 in the last quarter. Insiders own 10.30% of the company’s stock.

Veeva Systems Trading Down 0.8%

VEEV stock opened at $274.15 on Wednesday. The company’s 50 day moving average is $280.89 and its two-hundred day moving average is $258.06. Veeva Systems Inc. has a twelve month low of $200.30 and a twelve month high of $296.72. The stock has a market cap of $44.94 billion, a P/E ratio of 56.29, a PEG ratio of 2.15 and a beta of 0.95.

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.