Veeva Systems Inc. (NYSE:VEEV) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lowered its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 4.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 29,150 shares of the technology company’s stock after selling 1,263 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Veeva Systems were worth $5,612,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Operose Advisors LLC acquired a new stake in Veeva Systems during the 3rd quarter worth approximately $29,000. Parkside Financial Bank & Trust grew its stake in Veeva Systems by 81.9% during 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 last quarter. Atticus Wealth Management LLC increased its stake in Veeva Systems by 500.0% in the third quarter. Atticus Wealth Management LLC now owns 180 shares of the technology company’s stock valued at $37,000 after purchasing an additional 150 shares during the period. American National Bank acquired a new stake in shares of Veeva Systems during the fourth quarter worth $36,000. Finally, Nkcfo LLC boosted its holdings in shares of Veeva Systems by 54.7% in the third quarter. Nkcfo LLC now owns 232 shares of the technology company’s stock valued at $47,000 after acquiring an additional 82 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Robert W. Baird raised their price objective on shares of Veeva Systems from $245.00 to $251.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. Truist Financial raised their price target on shares of Veeva Systems from $187.00 to $203.00 and gave the company a “hold” rating in a report on Friday, March 1st. Royal Bank of Canada restated an “outperform” rating and issued a $250.00 price target on shares of Veeva Systems in a report on Wednesday, March 27th. 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. Finally, Piper Sandler lifted their price target on Veeva Systems from $220.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st. 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $234.90.

Veeva Systems Trading Down 0.3 %

Shares of VEEV stock opened at $203.89 on Friday. Veeva Systems Inc. has a 12 month low of $161.39 and a 12 month high of $236.90. The company has a market capitalization of $32.89 billion, a P/E ratio of 63.32, a P/E/G ratio of 1.96 and a beta of 0.76. The stock has a 50 day moving average of $211.14 and a two-hundred day moving average of $203.22.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings results on Thursday, February 29th. The technology company reported $0.92 earnings per share (EPS) 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 firm had revenue of $630.62 million for the quarter, compared to analyst estimates of $620.75 million. Sell-side analysts predict that Veeva Systems Inc. will post 4.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Alan Mateo sold 3,391 shares of the firm’s stock in a transaction that occurred 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 owns 21,983 shares in the company, valued at approximately $4,415,505.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Veeva Systems news, EVP Alan Mateo sold 3,391 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $200.86, for a total value of $681,116.26. Following the transaction, the executive vice president now directly owns 21,983 shares in the company, valued at $4,415,505.38. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Timothy S. Cabral sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $226.04, for a total transaction of $3,390,600.00. Following the sale, the director now directly 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. Insiders sold 21,989 shares of company stock valued at $4,818,013 over the last quarter. Corporate insiders own 10.50% of the company’s stock.

Veeva Systems 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.