Goodman Advisory Group LLC Trims Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Goodman Advisory Group LLC reduced its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 5.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,006 shares of the technology company’s stock after selling 795 shares during the quarter. Veeva Systems makes up about 1.0% of Goodman Advisory Group LLC’s holdings, making the stock its 25th biggest holding. Goodman Advisory Group LLC’s holdings in Veeva Systems were worth $2,889,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in VEEV. OFI Invest Asset Management purchased a new stake in shares of Veeva Systems in the 3rd quarter worth about $25,000. Operose Advisors LLC purchased a new stake in shares of Veeva Systems in the 3rd quarter worth about $29,000. Parkside Financial Bank & Trust grew its position in shares of Veeva Systems by 81.9% in the 3rd quarter. Parkside Financial Bank & Trust now owns 171 shares of the technology company’s stock worth $35,000 after buying an additional 77 shares during the period. Atticus Wealth Management LLC grew its position in shares of Veeva Systems by 500.0% in the 3rd quarter. Atticus Wealth Management LLC now owns 180 shares of the technology company’s stock worth $37,000 after buying an additional 150 shares during the period. Finally, First Financial Corp IN purchased a new stake in shares of Veeva Systems in the 3rd quarter worth about $40,000. 88.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Timothy S. Cabral sold 15,000 shares of the firm’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 completion of the sale, the director now directly owns 23,391 shares in the company, valued at $5,287,301.64. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Timothy S. Cabral sold 15,000 shares of the firm’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 completion of the sale, the director now directly owns 23,391 shares in the company, valued at $5,287,301.64. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Thomas D. Schwenger sold 1,238 shares of the firm’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $210.02, for a total value of $260,004.76. Following the completion of the sale, the chief operating officer now owns 24,342 shares of the company’s stock, valued at $5,112,306.84. The disclosure for this sale can be found here. Corporate insiders own 10.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Robert W. Baird upped their target price on shares of Veeva Systems from $245.00 to $251.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. Truist Financial upped their price target on shares of Veeva Systems from $187.00 to $203.00 and gave the stock a “hold” rating in a research note on Friday, March 1st. Stifel Nicolaus upped their price target on shares of Veeva Systems from $205.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Oppenheimer restated an “outperform” rating and set a $225.00 target price on shares of Veeva Systems in a research note on Thursday, February 22nd. Finally, Barclays upped their target price on shares of Veeva Systems from $240.00 to $245.00 and gave the company an “overweight” rating in a research note on Friday, March 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $234.90.

Veeva Systems Trading Down 0.6 %

Veeva Systems stock traded down $1.25 during midday trading on Wednesday, hitting $200.37. The stock had a trading volume of 1,421,706 shares, compared to its average volume of 884,760. The firm’s fifty day moving average is $222.17 and its two-hundred day moving average is $202.87. The company has a market capitalization of $32.32 billion, a PE ratio of 62.23, a P/E/G ratio of 2.04 and a beta of 0.74. Veeva Systems Inc. has a 52-week low of $160.21 and a 52-week high of $236.90.

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

Veeva Systems Company 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.