Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Hartline Investment Corp

Hartline Investment Corp lowered its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 16.9% in the fourth quarter, HoldingsChannel reports. The fund owned 8,079 shares of the technology company’s stock after selling 1,644 shares during the quarter. Hartline Investment Corp’s holdings in Veeva Systems were worth $1,555,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of VEEV. UMB Bank n.a. increased its position in Veeva Systems by 2.5% during the 3rd quarter. UMB Bank n.a. now owns 2,103 shares of the technology company’s stock worth $428,000 after purchasing an additional 51 shares in the last quarter. NewEdge Wealth LLC increased its position in Veeva Systems by 0.6% during the 3rd quarter. NewEdge Wealth LLC now owns 10,059 shares of the technology company’s stock worth $2,047,000 after purchasing an additional 60 shares in the last quarter. Yousif Capital Management LLC increased its position in Veeva Systems by 3.5% during the 4th quarter. Yousif Capital Management LLC now owns 1,777 shares of the technology company’s stock worth $342,000 after purchasing an additional 60 shares in the last quarter. Personal CFO Solutions LLC increased its position in Veeva Systems by 5.9% during the 3rd quarter. Personal CFO Solutions LLC now owns 1,091 shares of the technology company’s stock worth $222,000 after purchasing an additional 61 shares in the last quarter. Finally, Sequoia Financial Advisors LLC increased its position in Veeva Systems by 3.4% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,940 shares of the technology company’s stock worth $395,000 after purchasing an additional 63 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Insider Activity at Veeva Systems

In related news, EVP Alan Mateo sold 3,391 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The stock was 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 $4,415,505.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Timothy S. Cabral sold 15,000 shares of the 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 transaction, the director now owns 23,391 shares in the company, valued at approximately $5,287,301.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alan Mateo sold 3,391 shares of the stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $200.86, for a total value 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 disclosure for this sale can be found here. Insiders sold 21,989 shares of company stock valued at $4,818,013 over the last 90 days. 10.98% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

VEEV has been the subject of a number of analyst reports. Truist Financial upped their price target on Veeva Systems from $187.00 to $203.00 and gave the stock a “hold” rating in a report on Friday, March 1st. Oppenheimer restated an “outperform” rating and issued a $225.00 price target on shares of Veeva Systems in a report on Thursday, February 22nd. UBS Group upped their price target on Veeva Systems from $185.00 to $235.00 and gave the stock a “neutral” rating in a report on Monday, February 26th. Stifel Nicolaus upped their price target on Veeva Systems from $205.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, March 1st. Finally, The Goldman Sachs Group upped their price target on Veeva Systems from $219.00 to $248.00 and gave the stock a “buy” rating in a report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $234.90.

Veeva Systems Price Performance

Shares of VEEV stock traded down $0.58 on Wednesday, hitting $200.52. 550,205 shares of the stock traded hands, compared to its average volume of 975,580. The company has a market capitalization of $32.35 billion, a PE ratio of 62.41, a PEG ratio of 2.01 and a beta of 0.74. Veeva Systems Inc. has a 1-year low of $160.21 and a 1-year high of $236.90. The company’s fifty day moving average is $220.53 and its 200 day moving average is $202.75.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings results on Thursday, February 29th. The technology company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.11. The company 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%. As a group, equities research analysts expect that Veeva Systems Inc. will post 4.11 EPS for the current 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.