Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Bristlecone Advisors LLC

Bristlecone Advisors LLC reduced its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 2.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,447 shares of the technology company’s stock after selling 469 shares during the period. Bristlecone Advisors LLC’s holdings in Veeva Systems were worth $3,744,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of VEEV. Vanguard Group Inc. boosted its position in shares of Veeva Systems by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 12,888,204 shares of the technology company’s stock valued at $2,738,229,000 after purchasing an additional 132,560 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of Veeva Systems by 4.3% during the 2nd quarter. Alliancebernstein L.P. now owns 7,779,200 shares of the technology company’s stock valued at $1,538,181,000 after buying an additional 323,959 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Veeva Systems by 7.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,061,137 shares of the technology company’s stock valued at $655,387,000 after buying an additional 279,628 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Veeva Systems by 9.6% during the 3rd quarter. Wellington Management Group LLP now owns 3,315,304 shares of the technology company’s stock valued at $674,499,000 after buying an additional 289,133 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of Veeva Systems by 1.6% during the 2nd quarter. State Street Corp now owns 2,977,448 shares of the technology company’s stock valued at $588,731,000 after buying an additional 47,469 shares during the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on VEEV shares. Jefferies Financial Group lifted their price target on Veeva Systems from $225.00 to $270.00 and gave the company a “buy” rating in a report on Monday, March 4th. JPMorgan Chase & Co. raised their price objective on Veeva Systems from $183.00 to $222.00 and gave the company a “neutral” rating in a research note on Wednesday, March 13th. Citigroup raised their price objective on Veeva Systems from $240.00 to $264.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Needham & Company LLC reissued a “buy” rating and issued a $260.00 price objective on shares of Veeva Systems in a research note on Tuesday, April 2nd. Finally, KeyCorp raised their price objective on Veeva Systems from $232.00 to $250.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $234.90.

Veeva Systems Trading Down 0.0 %

VEEV stock traded down $0.01 during trading on Friday, hitting $214.73. The company had a trading volume of 890,728 shares, compared to its average volume of 839,986. The company has a fifty day moving average price of $222.05 and a two-hundred day moving average price of $202.60. The company has a market cap of $34.64 billion, a P/E ratio of 66.69, a P/E/G ratio of 2.17 and a beta of 0.74. Veeva Systems Inc. has a fifty-two week low of $160.21 and a fifty-two week high of $236.90.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings results on Thursday, February 29th. The technology company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.81 by $0.11. The business had revenue of $630.62 million for the quarter, compared to analyst estimates of $620.75 million. Veeva Systems had a return on equity of 11.26% and a net margin of 22.24%. On average, analysts expect that Veeva Systems Inc. will post 4.11 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Alan Mateo sold 910 shares of the business’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $204.72, for a total transaction of $186,295.20. Following the completion of the sale, the executive vice president now owns 21,983 shares in the company, valued at $4,500,359.76. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Alan Mateo sold 910 shares of the business’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $204.72, for a total transaction of $186,295.20. Following the completion of the sale, the executive vice president now owns 21,983 shares in the company, valued at $4,500,359.76. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Timothy S. Cabral sold 15,000 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $226.04, for a total value of $3,390,600.00. Following the sale, the director now owns 23,391 shares of the company’s stock, valued at approximately $5,287,301.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,498 shares of company stock valued at $5,289,003. 10.98% of the stock is currently owned by corporate insiders.

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 data 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.