Veeva Systems Inc. (NYSE:VEEV) is Mark Sheptoff Financial Planning LLC’s 7th Largest Position

Mark Sheptoff Financial Planning LLC trimmed its stake in Veeva Systems Inc. (NYSE:VEEV) by 0.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,882 shares of the technology company’s stock after selling 85 shares during the period. Veeva Systems makes up about 3.2% of Mark Sheptoff Financial Planning LLC’s portfolio, making the stock its 7th biggest position. Mark Sheptoff Financial Planning LLC’s holdings in Veeva Systems were worth $5,368,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. US Bancorp DE grew its holdings in Veeva Systems by 3.2% during the 4th quarter. US Bancorp DE now owns 40,749 shares of the technology company’s stock worth $7,845,000 after acquiring an additional 1,275 shares in the last quarter. Ontario Teachers Pension Plan Board raised its position in shares of Veeva Systems by 45.7% in the 4th quarter. Ontario Teachers Pension Plan Board now owns 14,285 shares of the technology company’s stock worth $2,750,000 after acquiring an additional 4,482 shares in the last quarter. Quest Partners LLC bought a new position in shares of Veeva Systems in the 4th quarter worth $491,000. Corient Private Wealth LLC boosted its position in Veeva Systems by 1.4% during the fourth quarter. Corient Private Wealth LLC now owns 10,792 shares of the technology company’s stock valued at $2,078,000 after purchasing an additional 148 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its position in shares of Veeva Systems by 1.1% during the fourth quarter. Clearbridge Investments LLC now owns 11,741 shares of the technology company’s stock valued at $2,260,000 after buying an additional 123 shares during the last quarter. 88.20% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Truist Financial raised their price target on shares of Veeva Systems from $187.00 to $203.00 and gave the stock a “hold” rating in a report on Friday, March 1st. Stifel Nicolaus raised their price objective on Veeva Systems from $205.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Raymond James reiterated an “outperform” rating and issued a $260.00 price target on shares of Veeva Systems in a report on Tuesday, March 26th. Royal Bank of Canada restated an “outperform” rating and set a $250.00 price objective on shares of Veeva Systems in a research note on Wednesday, March 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 price objective on shares of Veeva Systems in a report on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $234.90.

Insiders Place Their Bets

In other Veeva Systems news, EVP Alan Mateo sold 3,391 shares of Veeva Systems stock in a transaction dated Tuesday, April 23rd. The shares were 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 $4,415,505.38. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Timothy S. Cabral sold 15,000 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $226.04, for a total transaction of $3,390,600.00. Following the completion of the transaction, the director now owns 23,391 shares of the company’s stock, valued at approximately $5,287,301.64. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Alan Mateo sold 3,391 shares of Veeva Systems stock in a transaction on Tuesday, April 23rd. The shares were 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 21,989 shares of company stock worth $4,818,013. 10.50% of the stock is owned by company insiders.

Veeva Systems Price Performance

Shares of VEEV traded down $2.63 during midday trading on Thursday, reaching $203.13. 429,981 shares of the stock were exchanged, compared to its average volume of 906,363. Veeva Systems Inc. has a twelve month low of $160.21 and a twelve month high of $236.90. The company has a market capitalization of $32.77 billion, a price-to-earnings ratio of 63.89, a PEG ratio of 2.00 and a beta of 0.76. The business’s 50-day moving average price is $212.16 and its 200 day moving average price is $203.16.

Veeva Systems (NYSE:VEEV) last announced its earnings results on Thursday, February 29th. The technology company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.11. The business had revenue of $630.62 million during the quarter, compared to analysts’ expectations of $620.75 million. Veeva Systems had a net margin of 22.24% and a return on equity of 11.26%. As a group, equities research analysts expect that Veeva Systems Inc. will post 4.11 earnings per share for the current fiscal year.

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.