Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Morse Asset Management Inc

Morse Asset Management Inc lessened its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 10.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,567 shares of the technology company’s stock after selling 299 shares during the quarter. Morse Asset Management Inc’s holdings in Veeva Systems were worth $595,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Facet Wealth Inc. grew its position in Veeva Systems by 3.2% in the fourth quarter. Facet Wealth Inc. now owns 1,542 shares of the technology company’s stock worth $323,000 after buying an additional 48 shares during the last quarter. Yousif Capital Management LLC grew its position in Veeva Systems by 3.5% in the fourth quarter. Yousif Capital Management LLC now owns 1,777 shares of the technology company’s stock worth $342,000 after buying an additional 60 shares during the last quarter. Quadrant Capital Group LLC grew its position in Veeva Systems by 14.7% during the 4th quarter. Quadrant Capital Group LLC now owns 530 shares of the technology company’s stock worth $102,000 after purchasing an additional 68 shares in the last quarter. Wedmont Private Capital grew its position in Veeva Systems by 3.8% during the 1st quarter. Wedmont Private Capital now owns 1,981 shares of the technology company’s stock worth $429,000 after purchasing an additional 72 shares in the last quarter. Finally, Davidson Capital Management Inc. grew its position in Veeva Systems by 0.6% during the 1st quarter. Davidson Capital Management Inc. now owns 11,406 shares of the technology company’s stock worth $2,643,000 after purchasing an additional 72 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Insider Transactions at Veeva Systems

In other news, CFO Timothy S. Cabral sold 15,000 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $184.33, for a total transaction of $2,764,950.00. Following the transaction, the chief financial officer now owns 8,391 shares in the company, valued at approximately $1,546,713.03. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 10.50% of the company’s stock.

Veeva Systems Trading Up 3.2 %

Veeva Systems stock traded up $5.88 on Friday, reaching $192.43. 1,058,510 shares of the stock were exchanged, compared to its average volume of 851,398. The stock has a market cap of $31.11 billion, a PE ratio of 56.76, a PEG ratio of 1.89 and a beta of 0.80. Veeva Systems Inc. has a twelve month low of $162.72 and a twelve month high of $236.90. The firm has a fifty day moving average price of $187.20 and a two-hundred day moving average price of $204.73.

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

Analyst Ratings Changes

VEEV has been the topic of several research analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 price objective on shares of Veeva Systems in a research report on Friday, June 21st. Morgan Stanley decreased their target price on shares of Veeva Systems from $210.00 to $173.00 and set an “underweight” rating for the company in a research note on Friday, May 31st. Needham & Company LLC reissued a “buy” rating and set a $260.00 target price on shares of Veeva Systems in a research note on Monday, July 15th. Robert W. Baird lifted their target price on shares of Veeva Systems from $251.00 to $255.00 and gave the company an “outperform” rating in a research note on Wednesday, May 29th. Finally, Piper Sandler decreased their target price on shares of Veeva Systems from $235.00 to $225.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $228.27.

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.