Landscape Capital Management L.L.C. Sells 4,020 Shares of Veeva Systems Inc. (NYSE:VEEV)

Landscape Capital Management L.L.C. cut its holdings in Veeva Systems Inc. (NYSE:VEEV) by 50.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,938 shares of the technology company’s stock after selling 4,020 shares during the quarter. Landscape Capital Management L.L.C.’s holdings in Veeva Systems were worth $826,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in shares of Veeva Systems in the 3rd quarter worth approximately $26,000. Advisors Asset Management Inc. purchased a new stake in Veeva Systems during the first quarter worth $28,000. Blue Trust Inc. boosted its position in Veeva Systems by 3,460.0% during the 2nd quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock valued at $33,000 after acquiring an additional 173 shares in the last quarter. DT Investment Partners LLC purchased a new position in shares of Veeva Systems in the 2nd quarter valued at $35,000. Finally, Mather Group LLC. raised its position in shares of Veeva Systems by 166.3% in the 2nd quarter. Mather Group LLC. now owns 253 shares of the technology company’s stock worth $46,000 after acquiring an additional 158 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors.

Veeva Systems Price Performance

VEEV stock opened at $216.59 on Friday. The company has a market capitalization of $35.07 billion, a P/E ratio of 57.76, a price-to-earnings-growth ratio of 2.07 and a beta of 0.81. Veeva Systems Inc. has a 12 month low of $165.12 and a 12 month high of $240.68. The firm’s fifty day simple moving average is $214.54 and its 200-day simple moving average is $201.19.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings results on Wednesday, August 28th. The technology company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.03. The company 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, sell-side analysts forecast that Veeva Systems Inc. will post 4.21 earnings per share for the current year.

Insider Activity at Veeva Systems

In related news, insider Thomas D. Schwenger sold 1,126 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $240.01, for a total transaction of $270,251.26. Following the sale, the insider now owns 27,013 shares in the company, valued at approximately $6,483,390.13. This trade represents a 4.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

VEEV has been the topic of a number of recent research reports. Royal Bank of Canada raised their price objective on Veeva Systems from $250.00 to $275.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Piper Sandler lifted their price objective on shares of Veeva Systems from $230.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Scotiabank assumed coverage on shares of Veeva Systems in a research report on Monday, November 18th. They set a “sector perform” rating and a $235.00 target price for the company. Citigroup raised their target price on shares of Veeva Systems from $256.00 to $273.00 and gave the company a “buy” rating in a research note on Tuesday, August 27th. Finally, Barclays upped their price target on Veeva Systems from $240.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $236.92.

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.