Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Sei Investments Co.

Sei Investments Co. lessened its stake in Veeva Systems Inc. (NYSE:VEEV) by 37.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 520,482 shares of the technology company’s stock after selling 311,407 shares during the quarter. Sei Investments Co. owned about 0.32% of Veeva Systems worth $95,254,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Veeva Systems by 7.5% in the first quarter. Vanguard Group Inc. now owns 14,150,070 shares of the technology company’s stock valued at $3,278,430,000 after purchasing an additional 991,208 shares during the period. Swedbank AB purchased a new position in Veeva Systems in the 1st quarter valued at about $227,673,000. Principal Financial Group Inc. grew its stake in shares of Veeva Systems by 1,122.3% during the second quarter. Principal Financial Group Inc. now owns 912,223 shares of the technology company’s stock valued at $166,946,000 after acquiring an additional 837,593 shares in the last quarter. Matrix Capital Management Company LP grew its stake in shares of Veeva Systems by 635.4% during the first quarter. Matrix Capital Management Company LP now owns 498,821 shares of the technology company’s stock valued at $115,572,000 after acquiring an additional 430,989 shares in the last quarter. Finally, Acadian Asset Management LLC increased its position in shares of Veeva Systems by 83.8% during the first quarter. Acadian Asset Management LLC now owns 618,344 shares of the technology company’s stock worth $143,235,000 after acquiring an additional 281,993 shares during the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Analysts Set New Price Targets

VEEV has been the subject of a number of analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $260.00 price target on shares of Veeva Systems in a report on Thursday, August 29th. TD Cowen lifted their price target on shares of Veeva Systems from $180.00 to $192.00 and gave the stock a “hold” rating in a research note on Thursday, August 29th. Stifel Nicolaus reduced their price objective on shares of Veeva Systems from $250.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, May 31st. BTIG Research started coverage on shares of Veeva Systems in a report on Tuesday, July 9th. They set a “buy” rating and a $240.00 price objective for the company. Finally, Canaccord Genuity Group cut their target price on shares of Veeva Systems from $220.00 to $210.00 and set a “hold” rating on the stock in a research note on Friday, May 31st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, Veeva Systems has an average rating of “Moderate Buy” and an average target price of $229.96.

Veeva Systems Stock Performance

VEEV stock opened at $214.88 on Friday. Veeva Systems Inc. has a 1 year low of $162.72 and a 1 year high of $236.90. The stock has a market capitalization of $34.74 billion, a price-to-earnings ratio of 63.39, a PEG ratio of 2.12 and a beta of 0.81. The stock’s fifty day moving average is $199.25 and its two-hundred day moving average is $201.58.

Veeva Systems (NYSE:VEEV) last issued 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 the consensus estimate of $667.21 million. As a group, analysts predict that Veeva Systems Inc. will post 4.2 EPS for the current fiscal year.

Insider Activity

In related news, SVP Jonathan Faddis sold 2,353 shares of the 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 transaction, the senior vice president now directly owns 9,035 shares of the company’s stock, valued at approximately $1,807,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate 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.