Mackenzie Financial Corp Sells 144 Shares of Veeva Systems Inc. (NYSE:VEEV)

Mackenzie Financial Corp cut its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 1.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,514 shares of the technology company’s stock after selling 144 shares during the quarter. Mackenzie Financial Corp’s holdings in Veeva Systems were worth $1,639,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of VEEV. CWM LLC raised its holdings in Veeva Systems by 7.0% during the third quarter. CWM LLC now owns 1,860 shares of the technology company’s stock valued at $378,000 after acquiring an additional 122 shares during the period. Exchange Traded Concepts LLC grew its position in shares of Veeva Systems by 7.4% during the third quarter. Exchange Traded Concepts LLC now owns 14,949 shares of the technology company’s stock valued at $3,041,000 after purchasing an additional 1,035 shares in the last quarter. Washington Trust Advisors Inc. grew its position in shares of Veeva Systems by 1.6% during the third quarter. Washington Trust Advisors Inc. now owns 41,617 shares of the technology company’s stock valued at $8,467,000 after purchasing an additional 658 shares in the last quarter. Liberty Capital Management Inc. grew its position in shares of Veeva Systems by 223.8% during the third quarter. Liberty Capital Management Inc. now owns 4,471 shares of the technology company’s stock valued at $910,000 after purchasing an additional 3,090 shares in the last quarter. Finally, UMB Bank n.a. grew its position in shares of Veeva Systems by 2.5% during the third quarter. UMB Bank n.a. now owns 2,103 shares of the technology company’s stock valued at $428,000 after purchasing an additional 51 shares in the last quarter. 88.20% of the stock is owned by institutional investors.

Veeva Systems Price Performance

Veeva Systems stock opened at $200.95 on Wednesday. Veeva Systems Inc. has a 1-year low of $160.21 and a 1-year high of $236.90. The firm has a market capitalization of $32.42 billion, a P/E ratio of 62.41, a price-to-earnings-growth ratio of 2.01 and a beta of 0.74. The company’s 50-day moving average is $220.53 and its 200 day moving average is $202.75.

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

Insider Transactions at Veeva Systems

In other news, EVP Alan Mateo sold 3,391 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $200.86, for a total transaction of $681,116.26. Following the transaction, the executive vice president now directly owns 21,983 shares of the company’s stock, valued at $4,415,505.38. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Alan Mateo sold 3,391 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $200.86, for a total transaction of $681,116.26. Following the transaction, the executive vice president now directly owns 21,983 shares of the company’s stock, valued at $4,415,505.38. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Jonathan Faddis sold 3,598 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $207.42, for a total transaction of $746,297.16. Following the transaction, the senior vice president now directly owns 10,668 shares in the company, valued at $2,212,756.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,989 shares of company stock valued at $4,818,013. 10.98% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

VEEV has been the subject of a number of research analyst reports. UBS Group raised their price objective on Veeva Systems from $185.00 to $235.00 and gave the company a “neutral” rating in a research report on Monday, February 26th. The Goldman Sachs Group raised their price objective on Veeva Systems from $219.00 to $248.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Royal Bank of Canada restated an “outperform” rating and set a $250.00 price objective on shares of Veeva Systems in a research report on Wednesday, March 27th. Robert W. Baird raised their price objective on Veeva Systems from $245.00 to $251.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. Finally, Piper Sandler lifted their price target on Veeva Systems from $220.00 to $245.00 and gave the stock an “overweight” rating in a research report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $234.90.

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.