Intech Investment Management LLC Sells 1,993 Shares of Veeva Systems Inc. (NYSE:VEEV)

Intech Investment Management LLC reduced its stake in Veeva Systems Inc. (NYSE:VEEV) by 21.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,124 shares of the technology company’s stock after selling 1,993 shares during the quarter. Intech Investment Management LLC’s holdings in Veeva Systems were worth $1,651,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of VEEV. DSM Capital Partners LLC bought a new position in shares of Veeva Systems during the fourth quarter worth approximately $29,000. Vermillion & White Wealth Management Group LLC bought a new position in shares of Veeva Systems during the fourth quarter worth approximately $32,000. First Financial Corp IN bought a new position in shares of Veeva Systems during the first quarter worth approximately $35,000. American National Bank bought a new position in shares of Veeva Systems during the fourth quarter worth approximately $36,000. Finally, Larson Financial Group LLC increased its holdings in shares of Veeva Systems by 1,153.8% during the first quarter. Larson Financial Group LLC now owns 163 shares of the technology company’s stock worth $38,000 after purchasing an additional 150 shares during the period. 88.20% of the stock is owned by institutional investors.

Insider Activity at Veeva Systems

In related news, EVP Alan Mateo sold 3,391 shares of the business’s stock in a transaction 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 transaction, the executive vice president now 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. In other Veeva Systems news, CFO Timothy S. Cabral sold 15,000 shares of Veeva Systems stock in a transaction on Friday, June 7th. The shares were sold at an average price of $184.33, for a total value of $2,764,950.00. Following the completion of the sale, the chief financial officer now directly owns 8,391 shares of the company’s stock, valued at $1,546,713.03. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 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 sale, the executive vice president now directly owns 21,983 shares of the company’s stock, valued at $4,415,505.38. The disclosure for this sale can be found here. 10.50% of the stock is owned by company insiders.

Veeva Systems Stock Performance

Shares of NYSE:VEEV traded up $2.82 during mid-day trading on Friday, reaching $183.25. 1,046,449 shares of the company’s stock were exchanged, compared to its average volume of 851,148. The firm has a market capitalization of $29.62 billion, a price-to-earnings ratio of 54.06, a PEG ratio of 1.80 and a beta of 0.80. The business’s fifty day moving average price is $189.24 and its 200-day moving average price is $204.68. Veeva Systems Inc. has a twelve month low of $162.72 and a twelve month high of $236.90.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings results on Thursday, May 30th. The technology company reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.10. The company had revenue of $650.35 million for the quarter, compared to analyst estimates of $641.73 million. Veeva Systems had a net margin of 22.34% and a return on equity of 12.74%. Analysts predict that Veeva Systems Inc. will post 4.19 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

VEEV has been the topic of several recent research reports. Robert W. Baird raised their target price on shares of Veeva Systems from $251.00 to $255.00 and gave the stock an “outperform” rating in a report on Wednesday, May 29th. Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 price objective on shares of Veeva Systems in a research note on Friday, June 21st. StockNews.com raised shares of Veeva Systems from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. Evercore ISI decreased their price objective on shares of Veeva Systems from $230.00 to $200.00 and set an “in-line” rating on the stock in a research note on Friday, May 31st. Finally, BTIG Research assumed coverage on shares of Veeva Systems in a research note on Tuesday, July 9th. They issued a “buy” rating and a $240.00 price objective on the stock. One analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $228.27.

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.