Montag & Caldwell LLC Has $420,000 Stake in Veeva Systems Inc. (NYSE:VEEV)

Montag & Caldwell LLC trimmed its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 57.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,181 shares of the technology company’s stock after selling 2,937 shares during the quarter. Montag & Caldwell LLC’s holdings in Veeva Systems were worth $420,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Simplicity Solutions LLC lifted its stake in Veeva Systems by 3.6% in the third quarter. Simplicity Solutions LLC now owns 5,135 shares of the technology company’s stock valued at $1,045,000 after buying an additional 177 shares during the period. Arcadia Investment Management Corp MI grew its position in shares of Veeva Systems by 0.6% in the 3rd quarter. Arcadia Investment Management Corp MI now owns 44,560 shares of the technology company’s stock valued at $9,066,000 after buying an additional 256 shares during the last quarter. Suncoast Equity Management grew its position in shares of Veeva Systems by 4.1% in the 3rd quarter. Suncoast Equity Management now owns 2,963 shares of the technology company’s stock valued at $603,000 after buying an additional 118 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in shares of Veeva Systems by 2.2% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 55,379 shares of the technology company’s stock valued at $11,267,000 after purchasing an additional 1,192 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its stake in Veeva Systems by 42.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 155,352 shares of the technology company’s stock worth $31,606,000 after buying an additional 46,566 shares during the period. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Veeva Systems

In other Veeva Systems news, EVP Alan Mateo sold 3,391 shares of Veeva Systems stock in a transaction on 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 directly 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 SEC, which can be accessed through this hyperlink. In other news, EVP Alan Mateo sold 3,391 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $200.86, for a total value of $681,116.26. Following the completion of the sale, the executive vice president now directly owns 21,983 shares of the company’s stock, valued at approximately $4,415,505.38. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Jonathan Faddis sold 3,598 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $207.42, for a total value of $746,297.16. Following the sale, the senior vice president now directly owns 10,668 shares of the company’s stock, valued at $2,212,756.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,989 shares of company stock worth $4,818,013. Insiders own 10.98% of the company’s stock.

Veeva Systems Price Performance

Shares of VEEV stock traded up $0.98 during trading hours on Monday, reaching $201.89. The stock had a trading volume of 186,117 shares, compared to its average volume of 960,988. The firm has a 50-day simple moving average of $219.27 and a 200-day simple moving average of $202.45. The firm has a market capitalization of $32.57 billion, a PE ratio of 62.39, a price-to-earnings-growth ratio of 2.03 and a beta of 0.74. Veeva Systems Inc. has a twelve month low of $160.21 and a twelve month high of $236.90.

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Robert W. Baird raised their price target on Veeva Systems from $245.00 to $251.00 and gave the stock an “outperform” rating in a report on Friday, March 1st. Raymond James reaffirmed an “outperform” rating and set a $260.00 price objective on shares of Veeva Systems in a research report on Tuesday, March 26th. UBS Group boosted their price target on Veeva Systems from $185.00 to $235.00 and gave the stock a “neutral” rating in a research report on Monday, February 26th. Oppenheimer reissued an “outperform” rating and issued a $225.00 price target on shares of Veeva Systems in a research report on Thursday, February 22nd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Veeva Systems from $183.00 to $222.00 and gave the stock a “neutral” rating in a report on Wednesday, March 13th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $234.90.

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.