Veeva Systems Inc. (NYSE:VEEV) Position Lessened by Orion Capital Management LLC

Orion Capital Management LLC decreased its stake in Veeva Systems Inc. (NYSE:VEEV) by 2.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,760 shares of the technology company’s stock after selling 200 shares during the period. Veeva Systems accounts for 1.0% of Orion Capital Management LLC’s portfolio, making the stock its 21st largest position. Orion Capital Management LLC’s holdings in Veeva Systems were worth $1,686,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Victory Capital Management Inc. raised its stake in Veeva Systems by 6.6% during the 4th quarter. Victory Capital Management Inc. now owns 201,806 shares of the technology company’s stock valued at $38,852,000 after acquiring an additional 12,535 shares in the last quarter. Savant Capital LLC bought a new stake in Veeva Systems during the 4th quarter valued at $231,000. Kestra Private Wealth Services LLC raised its stake in Veeva Systems by 15.7% during the 4th quarter. Kestra Private Wealth Services LLC now owns 3,084 shares of the technology company’s stock valued at $594,000 after acquiring an additional 418 shares in the last quarter. Van ECK Associates Corp raised its stake in Veeva Systems by 22.6% during the 4th quarter. Van ECK Associates Corp now owns 1,775,065 shares of the technology company’s stock valued at $341,736,000 after acquiring an additional 327,662 shares in the last quarter. Finally, Capital Investment Counsel Inc raised its stake in Veeva Systems by 82.8% during the 4th quarter. Capital Investment Counsel Inc now owns 5,970 shares of the technology company’s stock valued at $1,149,000 after acquiring an additional 2,705 shares in the last quarter. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Trading Up 1.4 %

VEEV traded up $2.79 on Wednesday, hitting $201.35. 350,515 shares of the stock traded hands, compared to its average volume of 956,206. Veeva Systems Inc. has a 52 week low of $160.21 and a 52 week high of $236.90. The firm has a market capitalization of $32.48 billion, a PE ratio of 61.66, a P/E/G ratio of 2.04 and a beta of 0.74. The business has a fifty day moving average price of $218.51 and a two-hundred day moving average price of $202.22.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Thursday, February 29th. The technology company reported $0.92 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $620.75 million. On average, equities research analysts forecast that Veeva Systems Inc. will post 4.11 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently commented on the company. UBS Group boosted their price objective on Veeva Systems from $185.00 to $235.00 and gave the stock a “neutral” rating in a research note on Monday, February 26th. Barclays lifted their target price on Veeva Systems from $240.00 to $245.00 and gave the stock an “overweight” rating in a report on Friday, March 1st. Needham & Company LLC restated a “buy” rating and issued a $260.00 target price on shares of Veeva Systems in a report on Tuesday, April 2nd. Citigroup lifted their target price on Veeva Systems from $240.00 to $264.00 and gave the stock a “buy” rating in a report on Friday, March 1st. Finally, Stifel Nicolaus lifted their target price on Veeva Systems from $205.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, March 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $234.90.

Insider Activity

In related news, Director Timothy S. Cabral sold 15,000 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $226.04, for a total transaction of $3,390,600.00. Following the sale, the director now directly owns 23,391 shares in the company, valued at approximately $5,287,301.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Timothy S. Cabral sold 15,000 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $226.04, for a total transaction of $3,390,600.00. Following the sale, the director now directly owns 23,391 shares in the company, valued at approximately $5,287,301.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Alan Mateo sold 3,391 shares of the 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 in the company, valued at $4,415,505.38. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,989 shares of company stock worth $4,818,013. Company insiders own 10.98% of the company’s stock.

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.