FineMark National Bank & Trust Has $328,000 Stock Position in Veeva Systems Inc. (NYSE:VEEV)

FineMark National Bank & Trust decreased its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 17.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,704 shares of the technology company’s stock after selling 372 shares during the period. FineMark National Bank & Trust’s holdings in Veeva Systems were worth $328,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the stock. Wellington Management Group LLP boosted its stake in Veeva Systems by 9.6% in the 3rd quarter. Wellington Management Group LLP now owns 3,315,304 shares of the technology company’s stock worth $674,499,000 after purchasing an additional 289,133 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Veeva Systems by 6.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,167,960 shares of the technology company’s stock worth $417,376,000 after buying an additional 122,546 shares during the period. FMR LLC increased its stake in shares of Veeva Systems by 15.4% in the third quarter. FMR LLC now owns 1,833,135 shares of the technology company’s stock worth $372,951,000 after buying an additional 244,599 shares during the period. Van ECK Associates Corp raised its stake in shares of Veeva Systems by 22.6% during the fourth 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 during the last quarter. Finally, Norges Bank bought a new position in Veeva Systems during the 4th quarter valued at approximately $305,543,000. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Down 0.3 %

Shares of VEEV stock opened at $203.89 on Friday. The company has a 50 day moving average price of $211.14 and a 200-day moving average price of $203.29. Veeva Systems Inc. has a 52 week low of $161.39 and a 52 week high of $236.90. The firm has a market capitalization of $32.89 billion, a PE ratio of 63.32, a P/E/G ratio of 1.95 and a beta of 0.76.

Veeva Systems (NYSE:VEEV) last posted its earnings results on Thursday, February 29th. The technology company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.11. The business had revenue of $630.62 million during the quarter, compared to the consensus estimate of $620.75 million. Veeva Systems had a net margin of 22.24% and a return on equity of 11.26%. Analysts anticipate that Veeva Systems Inc. will post 4.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

VEEV has been the topic of a number of research analyst reports. Stifel Nicolaus upped 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. Truist Financial increased their price target on shares of Veeva Systems from $187.00 to $203.00 and gave the stock a “hold” rating in a research note on Friday, March 1st. Jefferies Financial Group boosted their price objective on shares of Veeva Systems from $225.00 to $270.00 and gave the stock a “buy” rating in a research note on Monday, March 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 target price on shares of Veeva Systems in a research note on Tuesday, April 2nd. Finally, The Goldman Sachs Group boosted their price target on Veeva Systems from $219.00 to $248.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $234.90.

Insider Activity at Veeva Systems

In other Veeva Systems news, Director Timothy S. Cabral sold 15,000 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $226.04, for a total value of $3,390,600.00. Following the transaction, the director now directly owns 23,391 shares in the company, valued at $5,287,301.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Veeva Systems news, SVP Jonathan Faddis sold 3,598 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $207.42, for a total transaction of $746,297.16. Following the sale, the senior vice president now owns 10,668 shares in the company, valued at approximately $2,212,756.56. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Timothy S. Cabral sold 15,000 shares of the company’s stock in a transaction 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 completion of the transaction, the director now directly owns 23,391 shares of the company’s stock, valued at approximately $5,287,301.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,989 shares of company stock worth $4,818,013. 10.50% of the stock is owned by company insiders.

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.