Harrington Investments INC Sells 625 Shares of Veeva Systems Inc. (NYSE:VEEV)

Harrington Investments INC cut its holdings in Veeva Systems Inc. (NYSE:VEEV) by 8.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,631 shares of the technology company’s stock after selling 625 shares during the period. Harrington Investments INC’s holdings in Veeva Systems were worth $1,392,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of VEEV. Clearbridge Investments LLC boosted its stake in Veeva Systems by 0.4% in the 2nd quarter. Clearbridge Investments LLC now owns 11,682 shares of the technology company’s stock worth $2,138,000 after purchasing an additional 52 shares during the period. Western Pacific Wealth Management LP lifted its stake in Veeva Systems by 23.3% in the 1st quarter. Western Pacific Wealth Management LP now owns 307 shares of the technology company’s stock valued at $71,000 after acquiring an additional 58 shares in the last quarter. Park Place Capital Corp lifted its stake in Veeva Systems by 11.5% in the 3rd quarter. Park Place Capital Corp now owns 574 shares of the technology company’s stock valued at $120,000 after acquiring an additional 59 shares in the last quarter. OV Management LLC boosted its position in Veeva Systems by 1.0% during the 2nd quarter. OV Management LLC now owns 6,659 shares of the technology company’s stock worth $1,219,000 after acquiring an additional 63 shares during the last quarter. Finally, Simplicity Wealth LLC grew its stake in shares of Veeva Systems by 1.7% during the 2nd quarter. Simplicity Wealth LLC now owns 4,029 shares of the technology company’s stock worth $737,000 after acquiring an additional 69 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors.

Veeva Systems Price Performance

Shares of VEEV stock opened at $210.31 on Tuesday. Veeva Systems Inc. has a one year low of $162.72 and a one year high of $236.90. The company has a market cap of $34.06 billion, a P/E ratio of 56.08, a P/E/G ratio of 2.04 and a beta of 0.81. The firm has a 50-day moving average of $205.87 and a 200-day moving average of $198.85.

Veeva Systems (NYSE:VEEV) last announced its earnings results on Wednesday, August 28th. The technology company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.03. The firm had revenue of $676.18 million for the quarter, compared to the consensus estimate of $667.21 million. Veeva Systems had a return on equity of 13.30% and a net margin of 23.91%. As a group, research analysts expect that Veeva Systems Inc. will post 4.21 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on VEEV. JPMorgan Chase & Co. boosted their price target on Veeva Systems from $203.00 to $208.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. Barclays increased their target price on Veeva Systems from $220.00 to $240.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Citigroup boosted their price target on Veeva Systems from $256.00 to $273.00 and gave the company a “buy” rating in a research note on Tuesday, August 27th. BTIG Research started coverage on Veeva Systems in a research report on Tuesday, July 9th. They set a “buy” rating and a $240.00 price objective on the stock. Finally, Truist Financial boosted their target price on shares of Veeva Systems from $197.00 to $207.00 and gave the company a “hold” rating in a research report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, Veeva Systems presently has an average rating of “Moderate Buy” and a consensus price target of $232.96.

Insider Buying and Selling at Veeva Systems

In other news, SVP Jonathan Faddis sold 2,353 shares of the firm’s stock in a transaction that occurred 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 owns 9,035 shares in the company, valued at $1,807,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 10.50% of the company’s stock.

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.