Sapient Capital LLC Sells 80 Shares of Veeva Systems Inc. (NYSE:VEEV)

Sapient Capital LLC cut its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 1.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,565 shares of the technology company’s stock after selling 80 shares during the quarter. Sapient Capital LLC’s holdings in Veeva Systems were worth $1,058,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of VEEV. OFI Invest Asset Management bought a new position in shares of Veeva Systems during the third quarter valued at $25,000. Operose Advisors LLC bought a new stake in Veeva Systems in the 3rd quarter worth about $29,000. DSM Capital Partners LLC bought a new stake in Veeva Systems in the 4th quarter worth about $29,000. Vermillion & White Wealth Management Group LLC bought a new stake in Veeva Systems in the 4th quarter worth about $32,000. Finally, Parkside Financial Bank & Trust increased its holdings in Veeva Systems by 81.9% in the 3rd quarter. Parkside Financial Bank & Trust now owns 171 shares of the technology company’s stock worth $35,000 after buying an additional 77 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors.

Veeva Systems Price Performance

Shares of VEEV stock traded down $3.05 during trading hours on Tuesday, reaching $198.53. 549,494 shares of the company traded hands, compared to its average volume of 963,853. The firm has a 50-day moving average price of $218.51 and a 200 day moving average price of $202.22. Veeva Systems Inc. has a 12-month low of $160.21 and a 12-month high of $236.90. The company has a market cap of $32.03 billion, a P/E ratio of 61.66, a P/E/G ratio of 2.03 and a beta of 0.74.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings results on Thursday, February 29th. The technology company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.11. Veeva Systems had a return on equity of 11.26% and a net margin of 22.24%. The company had revenue of $630.62 million for the quarter, compared to analysts’ expectations of $620.75 million. Sell-side analysts predict that Veeva Systems Inc. will post 4.11 EPS for the current year.

Insider Buying and Selling

In related news, EVP Alan Mateo sold 3,391 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $200.86, for a total value of $681,116.26. Following the transaction, the executive vice president now directly owns 21,983 shares of the company’s stock, valued at approximately $4,415,505.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Veeva Systems news, EVP Alan Mateo sold 3,391 shares of Veeva Systems stock in a transaction that occurred on Tuesday, April 23rd. The stock was 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Timothy S. Cabral sold 15,000 shares of Veeva Systems stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $226.04, for a total value of $3,390,600.00. Following the completion of the sale, the director now directly owns 23,391 shares in the company, valued at approximately $5,287,301.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,989 shares of company stock valued at $4,818,013. Corporate insiders own 10.98% of the company’s stock.

Analysts Set New Price Targets

VEEV has been the subject of several research analyst reports. Robert W. Baird lifted their price objective on Veeva Systems from $245.00 to $251.00 and gave the stock an “outperform” rating in a report on Friday, March 1st. Truist Financial lifted their price objective on Veeva Systems from $187.00 to $203.00 and gave the stock a “hold” rating in a report on Friday, March 1st. StockNews.com raised Veeva Systems from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 target price on shares of Veeva Systems in a research report on Wednesday, March 27th. Finally, JPMorgan Chase & Co. raised their target price on Veeva Systems from $183.00 to $222.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 13th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, Veeva Systems presently has an average rating of “Moderate Buy” and an average price target of $234.90.

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.