Veeva Systems Inc. (NYSE:VEEV) Shares Sold by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC cut its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 1.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 466,134 shares of the technology company’s stock after selling 5,795 shares during the quarter. Veeva Systems comprises 1.5% of TimesSquare Capital Management LLC’s investment portfolio, making the stock its 17th biggest position. TimesSquare Capital Management LLC owned about 0.29% of Veeva Systems worth $97,828,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Advisors Asset Management Inc. acquired a new position in shares of Veeva Systems during the 1st quarter worth approximately $28,000. Mowery & Schoenfeld Wealth Management LLC purchased a new position in Veeva Systems during the third quarter worth approximately $26,000. Blue Trust Inc. boosted its stake in Veeva Systems by 3,460.0% during the second quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock worth $33,000 after buying an additional 173 shares during the last quarter. DT Investment Partners LLC purchased a new stake in Veeva Systems in the 2nd quarter valued at $35,000. Finally, Fairscale Capital LLC acquired a new stake in shares of Veeva Systems in the 2nd quarter worth $46,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on VEEV shares. Piper Sandler boosted their price target on shares of Veeva Systems from $230.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday. 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 report on Thursday, August 29th. 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 note on Tuesday, August 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 price target on shares of Veeva Systems in a research report on Friday. Finally, StockNews.com upgraded Veeva Systems from a “hold” rating to a “buy” rating in a research report on Saturday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $237.00.

Insider Buying and Selling

In other news, SVP Jonathan Faddis sold 2,353 shares of Veeva Systems stock in a transaction 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 completion of the sale, the senior vice president now directly owns 9,035 shares of the company’s stock, valued at approximately $1,807,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 10.50% of the stock is owned by insiders.

Veeva Systems Trading Up 5.2 %

Shares of NYSE VEEV opened at $235.00 on Friday. The stock has a market cap of $38.05 billion, a P/E ratio of 62.67, a PEG ratio of 2.29 and a beta of 0.81. The business’s fifty day simple moving average is $213.98 and its 200-day simple moving average is $199.75. Veeva Systems Inc. has a 12-month low of $162.72 and a 12-month high of $240.68.

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