Guggenheim Capital LLC lessened its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 31.5% during the 4th quarter, Holdings Channel reports. The firm owned 4,457 shares of the technology company’s stock after selling 2,049 shares during the quarter. Guggenheim Capital LLC’s holdings in Veeva Systems were worth $1,213,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. MUFG Americas Holdings Corp purchased a new stake in Veeva Systems during the 4th quarter worth approximately $26,000. Graves Light Private Wealth Management Inc. purchased a new stake in Veeva Systems during the 4th quarter worth approximately $27,000. Financial Avengers Inc. purchased a new stake in Veeva Systems during the 4th quarter worth approximately $27,000. Lazard Asset Management LLC purchased a new stake in Veeva Systems during the 4th quarter worth approximately $43,000. Finally, Regent Peak Wealth Advisors LLC purchased a new stake in Veeva Systems during the 4th quarter worth approximately $49,000. 77.54% of the stock is currently owned by institutional investors.

In other news, SVP Frederic Lequient sold 313 shares of the company’s stock in a transaction on Friday, March 12th. The shares were sold at an average price of $256.66, for a total transaction of $80,334.58. Following the completion of the sale, the senior vice president now owns 562 shares of the company’s stock, valued at $144,242.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Jonathan Faddis sold 280 shares of the company’s stock in a transaction on Thursday, January 14th. The stock was sold at an average price of $281.61, for a total transaction of $78,850.80. Following the sale, the senior vice president now directly owns 1,980 shares of the company’s stock, valued at approximately $557,587.80. The disclosure for this sale can be found here. Insiders have sold 10,564 shares of company stock valued at $2,908,213 over the last 90 days. 14.38% of the stock is currently owned by company insiders.

Several research firms have recently commented on VEEV. SVB Leerink upped their price objective on shares of Veeva Systems from $282.00 to $294.00 and gave the company a “market perform” rating in a report on Tuesday, March 9th. Citigroup upped their price objective on shares of Veeva Systems from $320.00 to $335.00 and gave the company a “buy” rating in a report on Wednesday, March 10th. Piper Sandler upped their price objective on shares of Veeva Systems from $340.00 to $350.00 and gave the company an “overweight” rating in a report on Tuesday, March 9th. JPMorgan Chase & Co. downgraded shares of Veeva Systems from a “neutral” rating to an “underweight” rating and set a $297.00 price objective on the stock. in a report on Wednesday, December 9th. Finally, Needham & Company LLC upped their price objective on shares of Veeva Systems from $327.00 to $336.00 and gave the company a “buy” rating in a report on Tuesday, March 9th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $299.04.

NYSE:VEEV opened at $260.38 on Thursday. The company has a fifty day moving average of $270.06 and a two-hundred day moving average of $279.14. The stock has a market capitalization of $39.44 billion, a PE ratio of 121.67, a P/E/G ratio of 9.41 and a beta of 0.84. Veeva Systems Inc. has a fifty-two week low of $152.24 and a fifty-two week high of $325.54.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings data on Monday, March 1st. The technology company reported $0.78 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.10. The company had revenue of $396.80 million during the quarter, compared to analysts’ expectations of $380.20 million. Veeva Systems had a net margin of 24.88% and a return on equity of 15.73%. The firm’s revenue for the quarter was up 27.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.54 earnings per share. Equities research analysts predict that Veeva Systems Inc. will post 1.95 earnings per share for the current year.

Veeva Systems Company Profile

Veeva Systems Inc provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, the Middle East, Africa, and Latin America. The company offers Veeva Commercial Cloud, a suite of multichannel customer relationship management applications, commercial data warehouse, allocation and alignment applications, master data management application, and data and services; and Veeva Vault, a cloud-based enterprise content and data management applications for managing commercial functions, including medical, sales, and marketing, as well as research and development functions, such as clinical, regulatory, quality, and safety.

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Institutional Ownership by Quarter for Veeva Systems (NYSE:VEEV)

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