BluePath Capital Management LLC Sells 81 Shares of Veeva Systems Inc. (NYSE:VEEV)

BluePath Capital Management LLC reduced its stake in Veeva Systems Inc. (NYSE:VEEV) by 3.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,005 shares of the technology company’s stock after selling 81 shares during the period. BluePath Capital Management LLC’s holdings in Veeva Systems were worth $465,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Linscomb & Williams Inc. acquired a new stake in shares of Veeva Systems during the fourth quarter worth $1,479,000. Robeco Institutional Asset Management B.V. grew its position in shares of Veeva Systems by 32.7% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 206,220 shares of the technology company’s stock worth $365,000 after purchasing an additional 50,868 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of Veeva Systems by 703.8% during the fourth quarter. Sequoia Financial Advisors LLC now owns 15,594 shares of the technology company’s stock worth $3,002,000 after purchasing an additional 13,654 shares during the period. Nordea Investment Management AB raised its position in shares of Veeva Systems by 5.2% in the fourth quarter. Nordea Investment Management AB now owns 163,247 shares of the technology company’s stock valued at $31,730,000 after buying an additional 8,007 shares in the last quarter. Finally, APG Asset Management US Inc. bought a new stake in shares of Veeva Systems in the fourth quarter valued at approximately $5,756,000. 88.20% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on VEEV. Needham & Company LLC restated a “buy” rating and set a $260.00 price objective on shares of Veeva Systems in a research note on Friday, May 31st. Robert W. Baird increased their price objective on shares of Veeva Systems from $251.00 to $255.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 29th. Piper Sandler dropped their target price on shares of Veeva Systems from $245.00 to $235.00 and set an “overweight” rating for the company in a research report on Friday, May 31st. Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 price target on shares of Veeva Systems in a research report on Friday, June 21st. Finally, Truist Financial lowered their price objective on shares of Veeva Systems from $203.00 to $197.00 and set a “hold” rating for the company in a research report on Friday, June 14th. One analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Veeva Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $227.95.

Insider Buying and Selling

In other Veeva Systems news, SVP Jonathan Faddis sold 3,598 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $207.42, for a total transaction of $746,297.16. Following the completion of the transaction, the senior vice president now owns 10,668 shares in the company, valued at approximately $2,212,756.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Veeva Systems news, CFO Timothy S. Cabral sold 15,000 shares of Veeva Systems stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $184.33, for a total value of $2,764,950.00. Following the completion of the sale, the chief financial officer now directly owns 8,391 shares in the company, valued at $1,546,713.03. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Jonathan Faddis sold 3,598 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $207.42, for a total value of $746,297.16. Following the transaction, the senior vice president now owns 10,668 shares in the company, valued at $2,212,756.56. The disclosure for this sale can be found here. Insiders have sold a total of 21,989 shares of company stock valued at $4,192,363 over the last ninety days. 10.50% of the stock is owned by company insiders.

Veeva Systems Stock Down 0.8 %

NYSE VEEV traded down $1.52 on Wednesday, hitting $181.33. The company’s stock had a trading volume of 599,308 shares, compared to its average volume of 1,001,229. The firm has a market cap of $29.31 billion, a PE ratio of 53.70, a PEG ratio of 1.79 and a beta of 0.80. The company’s 50-day moving average is $193.97 and its 200 day moving average is $205.28. Veeva Systems Inc. has a 1-year low of $162.72 and a 1-year high of $236.90.

Veeva Systems (NYSE:VEEV) last announced its earnings results on Thursday, May 30th. The technology company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.10. Veeva Systems had a return on equity of 12.74% and a net margin of 22.34%. The business had revenue of $650.35 million during the quarter, compared to analyst estimates of $641.73 million. On average, equities analysts expect that Veeva Systems Inc. will post 4.19 EPS for the current 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.