Blossom Wealth Management Sells 500 Shares of Veeva Systems Inc. (NYSE:VEEV)

Blossom Wealth Management lowered its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 33.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,000 shares of the technology company’s stock after selling 500 shares during the quarter. Blossom Wealth Management’s holdings in Veeva Systems were worth $210,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in VEEV. Procyon Advisors LLC bought a new stake in Veeva Systems during the third quarter worth about $712,000. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Veeva Systems by 44.9% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 29,782 shares of the technology company’s stock valued at $5,450,000 after buying an additional 9,232 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Veeva Systems by 30.8% in the first quarter. BNP Paribas Financial Markets now owns 89,023 shares of the technology company’s stock valued at $20,626,000 after buying an additional 20,982 shares in the last quarter. Mediolanum International Funds Ltd bought a new stake in Veeva Systems during the first quarter worth $5,112,000. Finally, CANADA LIFE ASSURANCE Co lifted its stake in Veeva Systems by 46.9% in the first quarter. CANADA LIFE ASSURANCE Co now owns 132,760 shares of the technology company’s stock valued at $30,786,000 after acquiring an additional 42,396 shares during the last quarter. 88.20% of the stock is owned by institutional investors.

Veeva Systems Trading Down 1.1 %

Shares of NYSE VEEV opened at $219.51 on Wednesday. The company has a market cap of $35.55 billion, a price-to-earnings ratio of 58.54, a PEG ratio of 2.15 and a beta of 0.81. Veeva Systems Inc. has a 12 month low of $162.72 and a 12 month high of $236.90. The stock has a 50-day moving average price of $209.70 and a two-hundred day moving average price of $198.72.

Veeva Systems (NYSE:VEEV) last released 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. The business had revenue of $676.18 million during the quarter, compared to analysts’ expectations of $667.21 million. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. On average, sell-side analysts predict that Veeva Systems Inc. will post 4.21 earnings per share for the current year.

Insiders Place Their Bets

In other Veeva Systems news, SVP Jonathan Faddis sold 2,353 shares of the business’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 directly owns 9,035 shares of the company’s stock, valued at $1,807,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 10.50% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on VEEV. Piper Sandler boosted their price objective on shares of Veeva Systems from $225.00 to $230.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Truist Financial upped their price objective on Veeva Systems from $197.00 to $207.00 and gave the company a “hold” rating in a research note on Tuesday, September 3rd. Barclays lifted their target price on Veeva Systems from $220.00 to $240.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Robert W. Baird increased their price target on Veeva Systems from $245.00 to $251.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Finally, Bank of America increased their price objective 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $232.96.

Veeva Systems Company 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.