Bellevue Group AG Lowers Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Bellevue Group AG lowered its position in Veeva Systems Inc. (NYSE:VEEV) by 13.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 168,247 shares of the technology company’s stock after selling 26,766 shares during the period. Bellevue Group AG’s holdings in Veeva Systems were worth $38,981,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in VEEV. Facet Wealth Inc. boosted its position in Veeva Systems by 3.2% during the fourth quarter. Facet Wealth Inc. now owns 1,542 shares of the technology company’s stock worth $323,000 after purchasing an additional 48 shares during the period. Yousif Capital Management LLC boosted its position in Veeva Systems by 3.5% during the fourth quarter. Yousif Capital Management LLC now owns 1,777 shares of the technology company’s stock worth $342,000 after purchasing an additional 60 shares during the period. Quadrant Capital Group LLC boosted its position in Veeva Systems by 14.7% during the fourth quarter. Quadrant Capital Group LLC now owns 530 shares of the technology company’s stock worth $102,000 after purchasing an additional 68 shares during the period. Wedmont Private Capital boosted its position in Veeva Systems by 3.8% during the first quarter. Wedmont Private Capital now owns 1,981 shares of the technology company’s stock worth $429,000 after purchasing an additional 72 shares during the period. Finally, Davidson Capital Management Inc. boosted its position in Veeva Systems by 0.6% during the first quarter. Davidson Capital Management Inc. now owns 11,406 shares of the technology company’s stock worth $2,643,000 after purchasing an additional 72 shares during the period. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Performance

Shares of NYSE VEEV traded up $5.88 during mid-day trading on Friday, hitting $192.43. The stock had a trading volume of 1,058,510 shares, compared to its average volume of 851,398. Veeva Systems Inc. has a 1 year low of $162.72 and a 1 year high of $236.90. The business has a 50 day moving average price of $187.20 and a two-hundred day moving average price of $204.73. The firm has a market cap of $31.11 billion, a P/E ratio of 56.76, a price-to-earnings-growth ratio of 1.89 and a beta of 0.80.

Veeva Systems (NYSE:VEEV) last issued its earnings results on Thursday, May 30th. The technology company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.93 by $0.10. Veeva Systems had a net margin of 22.34% and a return on equity of 12.74%. The company had revenue of $650.35 million for the quarter, compared to the consensus estimate of $641.73 million. Equities research analysts predict that Veeva Systems Inc. will post 4.19 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on VEEV shares. Stifel Nicolaus lowered their price target on shares of Veeva Systems from $250.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, May 31st. Bank of America lowered their price target on shares of Veeva Systems from $240.00 to $204.00 and set a “neutral” rating on the stock in a report on Friday, May 31st. Robert W. Baird increased their price target on shares of Veeva Systems from $251.00 to $255.00 and gave the stock an “outperform” rating in a report on Wednesday, May 29th. Evercore ISI lowered their price target on shares of Veeva Systems from $230.00 to $200.00 and set an “in-line” rating on the stock in a report on Friday, May 31st. Finally, UBS Group lowered their price target on shares of Veeva Systems from $235.00 to $185.00 and set a “neutral” rating on the stock in a report on Friday, May 31st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, Veeva Systems has a consensus rating of “Moderate Buy” and a consensus price target of $228.27.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, CFO Timothy S. Cabral sold 15,000 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $184.33, for a total transaction of $2,764,950.00. Following the transaction, the chief financial officer now directly owns 8,391 shares of the company’s stock, valued at approximately $1,546,713.03. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 10.50% of the company’s stock.

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.