Atria Wealth Solutions Inc. Has $1.01 Million Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Atria Wealth Solutions Inc. decreased its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 56.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,355 shares of the technology company’s stock after selling 5,631 shares during the period. Atria Wealth Solutions Inc.’s holdings in Veeva Systems were worth $1,009,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of VEEV. Abound Financial LLC bought a new stake in Veeva Systems in the first quarter worth $25,000. ORG Partners LLC acquired a new position in Veeva Systems in the 1st quarter valued at $26,000. Golden State Wealth Management LLC grew its stake in Veeva Systems by 152.9% in the 1st quarter. Golden State Wealth Management LLC now owns 129 shares of the technology company’s stock valued at $30,000 after buying an additional 78 shares during the last quarter. Wayfinding Financial LLC acquired a new position in Veeva Systems in the 1st quarter valued at $32,000. Finally, Key Financial Inc grew its stake in Veeva Systems by 161.0% in the 1st quarter. Key Financial Inc now owns 154 shares of the technology company’s stock valued at $36,000 after buying an additional 95 shares during the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Insider Buying and Selling

In related news, Director Timothy S. Cabral sold 315 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $289.72, for a total transaction of $91,261.80. Following the completion of the sale, the director directly owned 5,500 shares of the company’s stock, valued at approximately $1,593,460. This represents a 5.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jonathan Faddis sold 720 shares of the stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $285.62, for a total value of $205,646.40. Following the sale, the senior vice president directly owned 7,902 shares of the company’s stock, valued at approximately $2,256,969.24. The trade was a 8.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,378 shares of company stock valued at $394,217. 10.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on VEEV. Barclays raised their target price on shares of Veeva Systems from $285.00 to $300.00 and gave the company an “overweight” rating in a research note on Thursday, May 29th. Citigroup raised their target price on shares of Veeva Systems from $265.00 to $329.00 and gave the company a “buy” rating in a research note on Friday, May 30th. Mizuho raised their target price on shares of Veeva Systems from $280.00 to $295.00 and gave the company an “outperform” rating in a research note on Monday, June 2nd. Stifel Nicolaus raised their target price on shares of Veeva Systems from $272.00 to $295.00 and gave the company a “buy” rating in a research note on Thursday, May 29th. Finally, Morgan Stanley boosted their target price on shares of Veeva Systems from $201.00 to $210.00 and gave the stock an “underweight” rating in a research report on Thursday, May 29th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Veeva Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $274.17.

Veeva Systems Trading Down 1.7%

Shares of Veeva Systems stock opened at $277.35 on Tuesday. The company has a market capitalization of $45.32 billion, a PE ratio of 58.76, a PEG ratio of 2.23 and a beta of 0.95. Veeva Systems Inc. has a 12 month low of $184.39 and a 12 month high of $296.72. The stock’s fifty day simple moving average is $282.91 and its 200 day simple moving average is $249.69.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Wednesday, May 28th. The technology company reported $1.97 EPS for the quarter, topping the consensus estimate of $1.74 by $0.23. The business had revenue of $759.04 million for the quarter, compared to the consensus estimate of $728.38 million. Veeva Systems had a return on equity of 13.96% and a net margin of 27.34%. The firm’s revenue was up 16.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.50 EPS. Analysts predict that Veeva Systems Inc. will post 4.35 EPS for the current fiscal year.

About Veeva Systems

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.