Invictus Private Wealth LLC Sells 82 Shares of Veeva Systems Inc. (NYSE:VEEV)

Invictus Private Wealth LLC cut its stake in Veeva Systems Inc. (NYSE:VEEV) by 7.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,017 shares of the technology company’s stock after selling 82 shares during the period. Invictus Private Wealth LLC’s holdings in Veeva Systems were worth $213,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in VEEV. Procyon Advisors LLC bought a new position in Veeva Systems during the 3rd quarter worth about $712,000. Envestnet Portfolio Solutions Inc. grew its holdings in Veeva Systems by 44.9% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 29,782 shares of the technology company’s stock worth $5,450,000 after acquiring an additional 9,232 shares in the last quarter. Mediolanum International Funds Ltd bought a new position in Veeva Systems during the 1st quarter worth about $5,112,000. CANADA LIFE ASSURANCE Co grew its holdings in Veeva Systems by 46.9% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 132,760 shares of the technology company’s stock worth $30,786,000 after acquiring an additional 42,396 shares in the last quarter. Finally, SageView Advisory Group LLC grew its holdings in Veeva Systems by 11,010.4% during the 1st quarter. SageView Advisory Group LLC now owns 168,545 shares of the technology company’s stock worth $39,050,000 after acquiring an additional 167,028 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors.

Insider Transactions at Veeva Systems

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

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Bank of America increased their price target on shares of Veeva Systems from $204.00 to $240.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Truist Financial increased their price target on shares of Veeva Systems from $197.00 to $207.00 and gave the company a “hold” rating in a research report on Tuesday, September 3rd. Citigroup increased their price target on shares of Veeva Systems from $256.00 to $273.00 and gave the company a “buy” rating in a research report on Tuesday, August 27th. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 price target on shares of Veeva Systems in a research report on Thursday, August 29th. Finally, Barclays increased their price target on shares of Veeva Systems from $220.00 to $240.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $232.87.

Veeva Systems Trading Up 0.0 %

Shares of NYSE:VEEV opened at $212.64 on Wednesday. Veeva Systems Inc. has a twelve month low of $162.72 and a twelve month high of $236.90. The company’s 50 day moving average is $213.14 and its 200 day moving average is $199.22. The company has a market cap of $34.43 billion, a PE ratio of 56.70, a price-to-earnings-growth ratio of 2.07 and a beta of 0.81.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings results on Wednesday, August 28th. The technology company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.03. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. The company had revenue of $676.18 million for the quarter, compared to the consensus estimate of $667.21 million. Equities research analysts predict that Veeva Systems Inc. will post 4.21 earnings per share for the current fiscal year.

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.