Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP trimmed its position in Veeva Systems Inc. (NYSE:VEEV) by 90.7% during the 1st quarter, Holdings Channel.com reports. The fund owned 3,449 shares of the technology company’s stock after selling 33,572 shares during the period. Quantbot Technologies LP’s holdings in Veeva Systems were worth $799,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in VEEV. DSM Capital Partners LLC purchased a new stake in Veeva Systems in the fourth quarter valued at $29,000. Vermillion & White Wealth Management Group LLC purchased a new stake in Veeva Systems in the fourth quarter valued at $32,000. First Financial Corp IN purchased a new stake in Veeva Systems in the first quarter valued at $35,000. American National Bank purchased a new stake in Veeva Systems in the fourth quarter valued at $36,000. Finally, Larson Financial Group LLC boosted its holdings in Veeva Systems by 1,153.8% in the first quarter. Larson Financial Group LLC now owns 163 shares of the technology company’s stock valued at $38,000 after purchasing an additional 150 shares during the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Veeva Systems Trading Up 1.0 %

VEEV stock opened at $187.92 on Monday. The company has a market cap of $30.38 billion, a price-to-earnings ratio of 55.43, a PEG ratio of 1.84 and a beta of 0.80. Veeva Systems Inc. has a 12 month low of $162.72 and a 12 month high of $236.90. The firm has a 50-day moving average of $191.22 and a two-hundred day moving average of $205.06.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Thursday, May 30th. The technology company reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.10. The company had revenue of $650.35 million during the quarter, compared to the consensus estimate of $641.73 million. Veeva Systems had a net margin of 22.34% and a return on equity of 12.74%. As a group, equities analysts forecast that Veeva Systems Inc. will post 4.19 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Alan Mateo sold 3,391 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $200.86, for a total transaction of $681,116.26. Following the completion of the transaction, the executive vice president now owns 21,983 shares of the company’s stock, valued at approximately $4,415,505.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Veeva Systems news, CFO Timothy S. Cabral sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $184.33, for a total value of $2,764,950.00. Following the completion of the transaction, the chief financial officer now owns 8,391 shares of the company’s stock, valued at approximately $1,546,713.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Alan Mateo sold 3,391 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $200.86, for a total transaction of $681,116.26. Following the completion of the transaction, the executive vice president now directly owns 21,983 shares of the company’s stock, valued at approximately $4,415,505.38. The disclosure for this sale can be found here. 10.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Citigroup lowered their price target on shares of Veeva Systems from $274.00 to $256.00 and set a “buy” rating on the stock in a report on Monday, June 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 price target on shares of Veeva Systems in a report on Friday, June 21st. 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. Morgan Stanley lowered their target price on shares of Veeva Systems from $210.00 to $173.00 and set an “underweight” rating on the stock in a research note on Friday, May 31st. Finally, Raymond James reissued an “outperform” rating and set a $260.00 target price on shares of Veeva Systems in a research note on Tuesday, March 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $228.05.

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.