Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. lowered its position in shares of Veeva Systems Inc. (NYSE:VEEVGet Rating) by 8.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 962,653 shares of the technology company’s stock after selling 88,603 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.63% of Veeva Systems worth $245,939,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Ten Capital Wealth Advisors LLC acquired a new position in shares of Veeva Systems during the fourth quarter valued at approximately $29,000. Amplius Wealth Advisors LLC acquired a new stake in shares of Veeva Systems in the fourth quarter valued at approximately $31,000. Liberty Wealth Management LLC increased its holdings in shares of Veeva Systems by 312.9% in the third quarter. Liberty Wealth Management LLC now owns 128 shares of the technology company’s stock valued at $38,000 after purchasing an additional 97 shares during the last quarter. Global Wealth Management Investment Advisory Inc. increased its holdings in shares of Veeva Systems by 1,230.0% in the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 133 shares of the technology company’s stock valued at $34,000 after purchasing an additional 123 shares during the last quarter. Finally, EverSource Wealth Advisors LLC acquired a new stake in shares of Veeva Systems in the fourth quarter valued at approximately $38,000.

NYSE:VEEV traded up $8.63 during midday trading on Friday, reaching $172.78. The company had a trading volume of 1,070,585 shares, compared to its average volume of 934,418. The firm has a market capitalization of $26.67 billion, a price-to-earnings ratio of 65.70, a PEG ratio of 3.21 and a beta of 0.85. The stock’s fifty day simple moving average is $189.90 and its 200-day simple moving average is $233.60. Veeva Systems Inc. has a 12-month low of $156.57 and a 12-month high of $343.96.

Veeva Systems (NYSE:VEEVGet Rating) last released its earnings results on Wednesday, March 2nd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.01. The firm had revenue of $485.50 million during the quarter, compared to analyst estimates of $479.98 million. Veeva Systems had a return on equity of 15.61% and a net margin of 23.09%. During the same period last year, the business posted $0.54 earnings per share. As a group, equities research analysts predict that Veeva Systems Inc. will post 2.76 earnings per share for the current fiscal year.

In other Veeva Systems news, Director Ronald E. F. Codd sold 20,000 shares of the firm’s stock in a transaction on Wednesday, April 6th. The stock was sold at an average price of $207.14, for a total value of $4,142,800.00. Following the sale, the director now directly owns 442 shares in the company, valued at $91,555.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Paul J. Sekhri sold 11,000 shares of the firm’s stock in a transaction on Thursday, March 31st. The shares were sold at an average price of $214.02, for a total value of $2,354,220.00. The disclosure for this sale can be found here. Company insiders own 13.18% of the company’s stock.

VEEV has been the subject of several recent research reports. Citigroup cut their price target on Veeva Systems from $349.00 to $278.00 in a report on Tuesday, March 1st. Needham & Company LLC cut their price target on Veeva Systems from $327.00 to $270.00 and set a “buy” rating for the company in a report on Thursday, March 3rd. Piper Sandler lowered their price objective on Veeva Systems from $300.00 to $290.00 and set an “overweight” rating for the company in a research report on Thursday, March 3rd. JMP Securities lowered their price objective on Veeva Systems from $345.00 to $265.00 and set a “market outperform” rating for the company in a research report on Thursday, March 10th. Finally, SVB Leerink reiterated a “buy” rating and issued a $268.00 price objective on shares of Veeva Systems in a research report on Monday, March 14th. Six investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, Veeva Systems has a consensus rating of “Buy” and a consensus price target of $285.58.

Veeva Systems Profile (Get Rating)

Veeva Systems Inc provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, the Middle East, Africa, and Latin America. The company offers Veeva Commercial Cloud, a suite of software, data, and analytics solutions, which include Veeva customer relationship management (CRM) and Veeva Medical CRM, Veeva CLM, Veeva CRM MyInsights, Veeva CLM, Veeva CRM Approved Email, Veeva CRM Engage, Veeva Align, Veeva CRM Events Management, Veeva Nitro, Veeva OpenData, Veeva Link, Veeva Network, Veeva Crossix, Veeva Data Cloud, and MyVeeva for Patients; and Veeva Vault, a cloud-based enterprise content and data management applications for managing commercial functions, including sales and marketing, and medical content and communications, as well as research and development functions, such as clinical, regulatory, quality, and safety.

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Institutional Ownership by Quarter for Veeva Systems (NYSE:VEEV)

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