Camelot Portfolios LLC Sells 114 Shares of Veeva Systems Inc. $VEEV

Camelot Portfolios LLC decreased its stake in Veeva Systems Inc. (NYSE:VEEV) by 6.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,679 shares of the technology company’s stock after selling 114 shares during the period. Camelot Portfolios LLC’s holdings in Veeva Systems were worth $484,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the business. Worth Financial Advisory Group LLC purchased a new position in Veeva Systems during the second quarter valued at approximately $225,000. Avior Wealth Management LLC purchased a new position in Veeva Systems in the 2nd quarter worth approximately $238,000. Chatham Capital Group Inc. purchased a new position in Veeva Systems in the 2nd quarter worth approximately $202,000. ORG Partners LLC grew its stake in Veeva Systems by 176.3% in the 2nd quarter. ORG Partners LLC now owns 315 shares of the technology company’s stock worth $89,000 after buying an additional 201 shares in the last quarter. Finally, 1834 Investment Advisors Co. grew its stake in Veeva Systems by 2.1% in the 2nd quarter. 1834 Investment Advisors Co. now owns 2,714 shares of the technology company’s stock worth $782,000 after buying an additional 56 shares in the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Insider Activity

In related news, SVP Jonathan Faddis sold 720 shares of the 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 sale, the senior vice president directly owned 7,902 shares of the company’s stock, valued at approximately $2,256,969.24. This represents a 8.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Priscilla Hung sold 171 shares of the firm’s stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $284.40, for a total transaction of $48,632.40. Following the sale, the director directly owned 3,966 shares in the company, valued at approximately $1,127,930.40. The trade was a 4.13% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,063 shares of company stock worth $302,955 over the last three months. 10.30% of the stock is currently owned by insiders.

Veeva Systems Stock Performance

Shares of VEEV stock opened at $290.44 on Friday. Veeva Systems Inc. has a one year low of $200.30 and a one year high of $296.72. The company’s 50-day moving average is $280.76 and its 200 day moving average is $260.79. The company has a market capitalization of $47.61 billion, a price-to-earnings ratio of 59.64, a price-to-earnings-growth ratio of 2.24 and a beta of 0.95.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Oppenheimer restated an “outperform” rating and issued a $325.00 price objective on shares of Veeva Systems in a report on Thursday, August 28th. BTIG Research upped their price target on shares of Veeva Systems from $335.00 to $340.00 and gave the company a “buy” rating in a report on Thursday, August 28th. Piper Sandler upped their price target on shares of Veeva Systems from $325.00 to $355.00 and gave the company an “overweight” rating in a report on Thursday, August 28th. Truist Financial upped their price target on shares of Veeva Systems from $268.00 to $275.00 and gave the company a “hold” rating in a report on Thursday, August 28th. Finally, KeyCorp upped their price target on shares of Veeva Systems from $285.00 to $325.00 and gave the company an “overweight” rating in a report on Monday, July 14th. Seventeen research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $301.48.

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.