Beacon Pointe Advisors LLC Sells 1,369 Shares of Veeva Systems Inc. (NYSE:VEEV)

Beacon Pointe Advisors LLC trimmed its holdings in Veeva Systems Inc. (NYSE:VEEV) by 56.4% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 1,057 shares of the technology company’s stock after selling 1,369 shares during the quarter. Beacon Pointe Advisors LLC’s holdings in Veeva Systems were worth $203,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of VEEV. Operose Advisors LLC bought a new stake in shares of Veeva Systems in the third quarter worth approximately $29,000. Parkside Financial Bank & Trust grew its position in 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 purchasing an additional 77 shares during the period. Atticus Wealth Management LLC raised its stake in Veeva Systems by 500.0% during the 3rd quarter. Atticus Wealth Management LLC now owns 180 shares of the technology company’s stock valued at $37,000 after buying an additional 150 shares during the last quarter. Nkcfo LLC lifted its holdings in shares of Veeva Systems by 54.7% during the 3rd quarter. Nkcfo LLC now owns 232 shares of the technology company’s stock valued at $47,000 after buying an additional 82 shares during the period. Finally, Clearstead Advisors LLC boosted its stake in shares of Veeva Systems by 28.6% in the 3rd quarter. Clearstead Advisors LLC now owns 292 shares of the technology company’s stock worth $59,000 after buying an additional 65 shares during the last quarter. 88.20% of the stock is currently owned by institutional investors.

Veeva Systems Stock Performance

VEEV opened at $203.89 on Monday. The stock has a market capitalization of $32.89 billion, a price-to-earnings ratio of 63.32, a PEG ratio of 1.95 and a beta of 0.76. The company has a fifty day moving average of $211.14 and a 200 day moving average of $203.35. Veeva Systems Inc. has a fifty-two week low of $161.39 and a fifty-two week high of $236.90.

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

Insider Activity

In related news, Director Timothy S. Cabral sold 15,000 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $226.04, for a total value of $3,390,600.00. Following the sale, the director now owns 23,391 shares in the company, valued at $5,287,301.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Timothy S. Cabral sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $226.04, for a total value of $3,390,600.00. Following the transaction, the director now directly owns 23,391 shares in the company, valued at approximately $5,287,301.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,989 shares of company stock worth $4,818,013. 10.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Truist Financial upped their price objective on Veeva Systems from $187.00 to $203.00 and gave the company a “hold” rating in a research report on Friday, March 1st. Raymond James reiterated an “outperform” rating and issued a $260.00 price objective on shares of Veeva Systems in a research note on Tuesday, March 26th. Stifel Nicolaus boosted their target price on shares of Veeva Systems from $205.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Citigroup increased their price target on shares of Veeva Systems from $240.00 to $264.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Finally, Robert W. Baird lifted their price target on shares of Veeva Systems from $245.00 to $251.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $234.90.

About Veeva Systems

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.