Americana Partners LLC Sells 162 Shares of Veeva Systems Inc. (NYSE:VEEV)

Americana Partners LLC cut its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 12.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,106 shares of the technology company’s stock after selling 162 shares during the quarter. Americana Partners LLC’s holdings in Veeva Systems were worth $202,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Advisors Asset Management Inc. bought a new position in shares of Veeva Systems during the first quarter valued at $28,000. DSM Capital Partners LLC bought a new stake in Veeva Systems in the 4th quarter worth about $29,000. First Financial Corp IN bought a new stake in Veeva Systems in the 1st quarter worth about $35,000. Larson Financial Group LLC increased its holdings in Veeva Systems by 1,153.8% in the 1st quarter. Larson Financial Group LLC now owns 163 shares of the technology company’s stock worth $38,000 after buying an additional 150 shares in the last quarter. Finally, Vermillion & White Wealth Management Group LLC bought a new stake in Veeva Systems in the 4th quarter worth about $32,000. 88.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on VEEV shares. Truist Financial reduced their price objective on Veeva Systems from $203.00 to $197.00 and set a “hold” rating for the company in a report on Friday, June 14th. Barclays lifted their price objective on Veeva Systems from $220.00 to $240.00 and gave the stock an “overweight” rating in a report on Thursday. Citigroup lifted their price objective on Veeva Systems from $256.00 to $273.00 and gave the stock a “buy” rating in a report on Tuesday. Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 price objective on shares of Veeva Systems in a report on Thursday. Finally, Evercore ISI reduced their price objective on Veeva Systems from $230.00 to $200.00 and set an “in-line” rating for the company in a report on Friday, May 31st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $230.13.

Veeva Systems Trading Down 0.3 %

VEEV traded down $0.58 on Friday, hitting $216.44. 1,887,412 shares of the company’s stock traded hands, compared to its average volume of 967,344. The company’s 50 day simple moving average is $189.12 and its 200-day simple moving average is $202.12. The firm has a market cap of $34.99 billion, a price-to-earnings ratio of 63.85, a P/E/G ratio of 1.95 and a beta of 0.80. Veeva Systems Inc. has a one year low of $162.72 and a one year high of $236.90.

Veeva Systems (NYSE:VEEV) last issued its earnings results on Thursday, May 30th. The technology company reported $1.03 earnings per share (EPS) for the quarter, beating 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 company had revenue of $650.35 million for the quarter, compared to the consensus estimate of $641.73 million. As a group, equities analysts anticipate that Veeva Systems Inc. will post 4.19 EPS for the current fiscal year.

Insiders Place Their Bets

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 sale, the chief financial officer now owns 8,391 shares of the company’s stock, valued at approximately $1,546,713.03. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 sale, the chief financial officer now owns 8,391 shares of the company’s stock, valued at approximately $1,546,713.03. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Jonathan Faddis sold 2,353 shares of Veeva Systems stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $200.00, for a total value of $470,600.00. Following the completion of the sale, the senior vice president now directly owns 9,035 shares in the company, valued at approximately $1,807,000. The disclosure for this sale can be found here. Corporate insiders own 10.50% of the company’s stock.

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.