Pursue Wealth Partners LLC Sells 1,099 Shares of Veeva Systems Inc. (NYSE:VEEV)

Pursue Wealth Partners LLC lowered its stake in Veeva Systems Inc. (NYSE:VEEV) by 52.6% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 990 shares of the technology company’s stock after selling 1,099 shares during the period. Pursue Wealth Partners LLC’s holdings in Veeva Systems were worth $208,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mowery & Schoenfeld Wealth Management LLC bought a new position in Veeva Systems during the third quarter valued at approximately $26,000. Advisors Asset Management Inc. purchased a new stake in Veeva Systems during the first quarter valued at approximately $28,000. Blue Trust Inc. raised its position in Veeva Systems by 3,460.0% in the second quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock worth $33,000 after acquiring an additional 173 shares during the period. DT Investment Partners LLC purchased a new position in Veeva Systems during the second quarter valued at $35,000. Finally, Larson Financial Group LLC lifted its holdings in Veeva Systems by 1,153.8% during the first quarter. Larson Financial Group LLC now owns 163 shares of the technology company’s stock valued at $38,000 after purchasing an additional 150 shares in the last quarter. 88.20% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on VEEV shares. JPMorgan Chase & Co. boosted their target price on shares of Veeva Systems from $203.00 to $208.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 price target on shares of Veeva Systems in a report on Thursday, August 29th. Piper Sandler boosted their price objective on Veeva Systems from $225.00 to $230.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 target price on shares of Veeva Systems in a research note on Thursday, August 29th. Finally, Raymond James boosted their target price on shares of Veeva Systems from $230.00 to $235.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $232.87.

Insider Transactions at Veeva Systems

In related news, SVP Jonathan Faddis sold 2,353 shares of Veeva Systems stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $200.00, for a total value of $470,600.00. Following the completion of the transaction, the senior vice president now owns 9,035 shares in the company, valued at $1,807,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 10.50% of the company’s stock.

Veeva Systems Stock Performance

VEEV opened at $208.78 on Friday. The business’s 50 day moving average price is $212.35 and its 200 day moving average price is $198.96. The stock has a market capitalization of $33.81 billion, a PE ratio of 55.67, a P/E/G ratio of 2.09 and a beta of 0.81. Veeva Systems Inc. has a one year low of $162.72 and a one year high of $236.90.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Wednesday, August 28th. The technology company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.03. Veeva Systems had a return on equity of 13.30% and a net margin of 23.91%. The firm had revenue of $676.18 million during the quarter, compared to the consensus estimate of $667.21 million. As a group, equities research analysts forecast that Veeva Systems Inc. will post 4.21 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.