Fortis Capital Advisors LLC Sells 900 Shares of Veeva Systems Inc. (NYSE:VEEV)

Fortis Capital Advisors LLC decreased its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 20.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,600 shares of the technology company’s stock after selling 900 shares during the period. Fortis Capital Advisors LLC’s holdings in Veeva Systems were worth $693,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Facet Wealth Inc. increased its position in shares of Veeva Systems by 3.2% in the fourth quarter. Facet Wealth Inc. now owns 1,542 shares of the technology company’s stock worth $323,000 after purchasing an additional 48 shares during the period. NewEdge Wealth LLC increased its position in shares of Veeva Systems by 0.6% in the third quarter. NewEdge Wealth LLC now owns 10,059 shares of the technology company’s stock worth $2,047,000 after purchasing an additional 60 shares during the period. Yousif Capital Management LLC increased its position in shares of Veeva Systems by 3.5% in the fourth quarter. Yousif Capital Management LLC now owns 1,777 shares of the technology company’s stock worth $342,000 after purchasing an additional 60 shares during the period. Personal CFO Solutions LLC increased its position in shares of Veeva Systems by 5.9% in the third quarter. Personal CFO Solutions LLC now owns 1,091 shares of the technology company’s stock worth $222,000 after purchasing an additional 61 shares during the period. Finally, Sequoia Financial Advisors LLC increased its position in shares of Veeva Systems by 3.4% in the third quarter. Sequoia Financial Advisors LLC now owns 1,940 shares of the technology company’s stock worth $395,000 after purchasing an additional 63 shares during the period. Institutional investors own 88.20% of the company’s stock.

Wall Street Analysts Forecast Growth

VEEV has been the topic of a number of recent analyst reports. Oppenheimer restated an “outperform” rating and issued a $225.00 price target on shares of Veeva Systems in a research report on Thursday, February 22nd. Citigroup lifted their target price on Veeva Systems from $240.00 to $264.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Piper Sandler lifted their target price on Veeva Systems from $220.00 to $245.00 and gave the company an “overweight” rating in a research report on Friday, March 1st. JPMorgan Chase & Co. lifted their target price on Veeva Systems from $183.00 to $222.00 and gave the company a “neutral” rating in a research report on Wednesday, March 13th. Finally, Raymond James reiterated an “outperform” rating and issued a $260.00 target price on shares of Veeva Systems in a research report on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, Veeva Systems currently has an average rating of “Moderate Buy” and a consensus target price of $234.90.

Insider Buying and Selling

In other Veeva Systems news, SVP Jonathan Faddis sold 3,598 shares of the business’s 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 transaction, the senior vice president now directly owns 10,668 shares of the company’s stock, valued at $2,212,756.56. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, SVP Jonathan Faddis sold 3,598 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $207.42, for a total transaction of $746,297.16. Following the completion of the sale, the senior vice president now owns 10,668 shares in the company, valued at $2,212,756.56. 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 the business’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $200.86, for a total value of $681,116.26. Following the sale, the executive vice president now owns 21,983 shares of the company’s stock, valued at approximately $4,415,505.38. The disclosure for this sale can be found here. Insiders have sold a total of 21,989 shares of company stock valued at $4,818,013 over the last ninety days. 10.50% of the stock is owned by company insiders.

Veeva Systems Price Performance

Shares of Veeva Systems stock traded down $0.69 during midday trading on Friday, reaching $203.89. The company had a trading volume of 600,576 shares, compared to its average volume of 664,268. The stock has a fifty day moving average price of $211.14 and a 200 day moving average price of $203.29. The firm has a market cap of $32.89 billion, a PE ratio of 63.32, a P/E/G ratio of 1.95 and a beta of 0.76. 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 posted its quarterly earnings data on Thursday, February 29th. The technology company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.11. The company had revenue of $630.62 million for the quarter, compared to analyst estimates of $620.75 million. Veeva Systems had a return on equity of 11.26% and a net margin of 22.24%. As a group, sell-side analysts forecast that Veeva Systems Inc. will post 4.11 EPS for the current 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.