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

Sapient Capital LLC trimmed its position in Veeva Systems Inc. (NYSE:VEEV) by 1.7% in the 1st quarter, HoldingsChannel reports. The firm owned 4,565 shares of the technology company’s stock after selling 80 shares during the quarter. Sapient Capital LLC’s holdings in Veeva Systems were worth $1,058,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP raised its position in Veeva Systems by 9.6% during the third quarter. Wellington Management Group LLP now owns 3,315,304 shares of the technology company’s stock valued at $674,499,000 after acquiring an additional 289,133 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Veeva Systems by 6.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,167,960 shares of the technology company’s stock valued at $417,376,000 after acquiring an additional 122,546 shares in the last quarter. FMR LLC raised its position in Veeva Systems by 15.4% during the third quarter. FMR LLC now owns 1,833,135 shares of the technology company’s stock valued at $372,951,000 after acquiring an additional 244,599 shares in the last quarter. Van ECK Associates Corp raised its position in Veeva Systems by 22.6% during the fourth quarter. Van ECK Associates Corp now owns 1,775,065 shares of the technology company’s stock valued at $341,736,000 after acquiring an additional 327,662 shares in the last quarter. Finally, Norges Bank purchased a new position in Veeva Systems during the fourth quarter valued at approximately $305,543,000. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Veeva Systems Trading Down 1.5 %

NYSE VEEV traded down $3.05 on Tuesday, reaching $198.53. 549,494 shares of the company were exchanged, compared to its average volume of 963,853. The business’s fifty day moving average price is $218.51 and its 200 day moving average price is $202.22. The stock has a market capitalization of $32.03 billion, a P/E ratio of 61.66, a price-to-earnings-growth ratio of 2.03 and a beta of 0.74. Veeva Systems Inc. has a fifty-two week low of $160.21 and a fifty-two week high of $236.90.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Thursday, February 29th. The technology company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.11. The company had revenue of $630.62 million for the quarter, compared to analyst estimates of $620.75 million. Veeva Systems had a return on equity of 11.26% and a net margin of 22.24%. Equities research analysts forecast that Veeva Systems Inc. will post 4.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Oppenheimer reissued an “outperform” rating and issued a $225.00 price objective on shares of Veeva Systems in a report on Thursday, February 22nd. KeyCorp raised their price objective on Veeva Systems from $232.00 to $250.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th. Piper Sandler raised their price objective on Veeva Systems from $220.00 to $245.00 and gave the company an “overweight” rating in a report on Friday, March 1st. Truist Financial raised their price objective on Veeva Systems from $187.00 to $203.00 and gave the company a “hold” rating in a report on Friday, March 1st. Finally, Raymond James reissued an “outperform” rating and issued a $260.00 price objective on shares of Veeva Systems in a report on Tuesday, March 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, Veeva Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $234.90.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, EVP Alan Mateo sold 3,391 shares of Veeva Systems stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $200.86, for a total value of $681,116.26. Following the sale, the executive vice president now owns 21,983 shares in the company, valued at $4,415,505.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Veeva Systems news, EVP Alan Mateo sold 3,391 shares of Veeva Systems stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $200.86, for a total value of $681,116.26. Following the sale, the executive vice president now owns 21,983 shares in the company, valued at $4,415,505.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Timothy S. Cabral sold 15,000 shares of Veeva Systems stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $226.04, for a total value of $3,390,600.00. Following the completion of the sale, the director now owns 23,391 shares in the company, valued at approximately $5,287,301.64. The disclosure for this sale can be found here. Insiders have sold 21,989 shares of company stock worth $4,818,013 over the last quarter. 10.98% of the stock is currently owned by company insiders.

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.