Westwind Capital Decreases Holdings in Veeva Systems Inc. (NYSE:VEEV)

Westwind Capital trimmed its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 99.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 399 shares of the technology company’s stock after selling 43,374 shares during the period. Westwind Capital’s holdings in Veeva Systems were worth $84,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Merrion Investment Management Co LLC purchased a new position in Veeva Systems in the third quarter valued at about $210,000. Patten Group Inc. raised its holdings in shares of Veeva Systems by 3.7% in the 3rd quarter. Patten Group Inc. now owns 6,798 shares of the technology company’s stock worth $1,427,000 after purchasing an additional 244 shares during the period. Wedmont Private Capital lifted its stake in Veeva Systems by 6.1% in the third quarter. Wedmont Private Capital now owns 2,079 shares of the technology company’s stock valued at $420,000 after purchasing an additional 120 shares during the last quarter. CWM LLC lifted its stake in Veeva Systems by 61.3% in the third quarter. CWM LLC now owns 6,770 shares of the technology company’s stock valued at $1,421,000 after purchasing an additional 2,574 shares during the last quarter. Finally, Brookstone Capital Management bought a new position in Veeva Systems during the third quarter valued at $203,000. 88.20% of the stock is owned by hedge funds and other institutional investors.

Veeva Systems Price Performance

Shares of VEEV opened at $210.13 on Friday. Veeva Systems Inc. has a 1-year low of $162.72 and a 1-year high of $236.90. The company has a market capitalization of $34.03 billion, a P/E ratio of 56.03, a P/E/G ratio of 2.01 and a beta of 0.81. The firm’s 50 day simple moving average is $204.43 and its 200 day simple moving average is $199.52.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings data on Wednesday, August 28th. The technology company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.03. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. The firm had revenue of $676.18 million for the quarter, compared to analysts’ expectations of $667.21 million. On average, equities analysts anticipate that Veeva Systems Inc. will post 4.21 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Jonathan Faddis sold 2,353 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $200.00, for a total transaction of $470,600.00. Following the transaction, the senior vice president now directly owns 9,035 shares in the company, valued at approximately $1,807,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 10.50% of the company’s stock.

Analyst Ratings Changes

VEEV has been the topic of several research reports. Truist Financial upped their price target on Veeva Systems from $197.00 to $207.00 and gave the company a “hold” rating in a research report on Tuesday, September 3rd. UBS Group upped their price objective on shares of Veeva Systems from $185.00 to $215.00 and gave the company a “neutral” rating in a report on Monday, August 26th. BNP Paribas assumed coverage on shares of Veeva Systems in a research report on Tuesday. They set an “outperform” rating and a $286.00 target price for the company. TD Cowen boosted their price target on shares of Veeva Systems from $180.00 to $192.00 and gave the company a “hold” rating in a research report on Thursday, August 29th. Finally, Raymond James upped their price target on shares of Veeva Systems from $230.00 to $235.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $232.96.

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.