Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Pursue Wealth Partners LLC

Pursue Wealth Partners LLC lowered its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 52.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 990 shares of the technology company’s stock after selling 1,099 shares during the quarter. Pursue Wealth Partners LLC’s holdings in Veeva Systems were worth $208,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in VEEV. Vanguard Group Inc. raised its holdings in Veeva Systems by 7.5% during the first quarter. Vanguard Group Inc. now owns 14,150,070 shares of the technology company’s stock worth $3,278,430,000 after purchasing an additional 991,208 shares in the last quarter. TD Asset Management Inc lifted its holdings in shares of Veeva Systems by 17.5% in the 1st quarter. TD Asset Management Inc now owns 1,227,223 shares of the technology company’s stock valued at $284,335,000 after buying an additional 182,762 shares during the period. Swedbank AB lifted its holdings in shares of Veeva Systems by 4.9% in the 2nd quarter. Swedbank AB now owns 1,031,064 shares of the technology company’s stock valued at $188,695,000 after buying an additional 48,402 shares during the period. Principal Financial Group Inc. grew its holdings in 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 worth $166,946,000 after acquiring an additional 837,593 shares during the period. Finally, Acadian Asset Management LLC lifted its holdings in shares of Veeva Systems by 83.8% in the first quarter. Acadian Asset Management LLC now owns 618,344 shares of the technology company’s stock valued at $143,235,000 after purchasing an additional 281,993 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Stock Performance

Shares of NYSE:VEEV opened at $208.78 on Friday. The stock has a market capitalization of $33.81 billion, a price-to-earnings ratio of 55.67, a PEG ratio of 2.09 and a beta of 0.81. Veeva Systems Inc. has a 1-year low of $162.72 and a 1-year high of $236.90. The company has a 50 day moving average price of $212.35 and a 200 day moving average price of $198.96.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Wednesday, August 28th. The technology company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.03. The business had revenue of $676.18 million during the quarter, compared to analyst estimates of $667.21 million. Veeva Systems had a return on equity of 13.30% and a net margin of 23.91%. On average, sell-side analysts expect that Veeva Systems Inc. will post 4.21 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on VEEV. Bank of America lifted their price objective on Veeva Systems from $204.00 to $240.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. BNP Paribas started coverage on Veeva Systems in a report on Tuesday, October 8th. They issued an “outperform” rating and a $286.00 price target for the company. Needham & Company LLC reiterated a “buy” rating and set a $260.00 price objective on shares of Veeva Systems in a research report on Thursday, August 29th. TD Cowen upped their target price on shares of Veeva Systems from $180.00 to $192.00 and gave the company a “hold” rating in a report on Thursday, August 29th. Finally, Raymond James boosted their price objective on shares of Veeva Systems from $230.00 to $235.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, Veeva Systems currently has an average rating of “Moderate Buy” and a consensus price target of $232.87.

Insider Transactions at Veeva Systems

In related news, SVP Jonathan Faddis sold 2,353 shares of the business’s 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 owns 9,035 shares of the company’s stock, valued at approximately $1,807,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 10.50% of the stock is currently owned by insiders.

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.