Nisa Investment Advisors LLC reduced its stake in shares of Veeva Systems Inc (NYSE:VEEV) by 23.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 18,912 shares of the technology company’s stock after selling 5,854 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Veeva Systems were worth $1,045,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. ETF Managers Group LLC acquired a new stake in Veeva Systems during the 2nd quarter worth about $101,000. C M Bidwell & Associates Ltd. grew its position in Veeva Systems by 460.0% during the 2nd quarter. C M Bidwell & Associates Ltd. now owns 2,800 shares of the technology company’s stock worth $172,000 after purchasing an additional 2,300 shares during the period. 1st Global Advisors Inc. acquired a new stake in Veeva Systems during the 2nd quarter worth about $200,000. Oakbrook Investments LLC acquired a new stake in shares of Veeva Systems during the 3rd quarter valued at about $203,000. Finally, Van Hulzen Asset Management LLC acquired a new stake in shares of Veeva Systems during the 3rd quarter valued at about $204,000. 70.90% of the stock is currently owned by institutional investors.

Shares of Veeva Systems Inc (NYSE VEEV) opened at $58.17 on Tuesday. Veeva Systems Inc has a twelve month low of $41.30 and a twelve month high of $68.07. The stock has a market capitalization of $8,220.00, a PE ratio of 63.92, a P/E/G ratio of 4.75 and a beta of 1.60.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings data on Tuesday, December 5th. The technology company reported $0.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.09. Veeva Systems had a return on equity of 12.21% and a net margin of 19.97%. The company had revenue of $176.10 million for the quarter, compared to analysts’ expectations of $171.99 million. During the same period in the previous year, the firm posted $0.22 EPS. Veeva Systems’s revenue was up 23.3% compared to the same quarter last year. research analysts expect that Veeva Systems Inc will post 0.68 EPS for the current year.

In related news, Director Gordon Ritter sold 9,600 shares of Veeva Systems stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $61.03, for a total value of $585,888.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Timothy S. Cabral sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $55.74, for a total transaction of $2,787,000.00. Following the completion of the transaction, the chief financial officer now directly owns 50,000 shares in the company, valued at $2,787,000. The disclosure for this sale can be found here. Over the last quarter, insiders sold 170,617 shares of company stock worth $9,827,783. 17.50% of the stock is currently owned by insiders.

A number of research firms have recently commented on VEEV. Zacks Investment Research cut Veeva Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, October 24th. BidaskClub upgraded Veeva Systems from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 20th. Stifel Nicolaus restated a “buy” rating and set a $67.00 target price on shares of Veeva Systems in a research report on Friday, October 13th. Needham & Company LLC restated a “buy” rating on shares of Veeva Systems in a research report on Thursday, October 12th. Finally, Canaccord Genuity restated a “buy” rating and set a $70.00 target price on shares of Veeva Systems in a research report on Wednesday, December 6th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Veeva Systems presently has a consensus rating of “Buy” and an average price target of $67.45.

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Veeva Systems Company Profile

Veeva Systems Inc (Veeva) is a provider of cloud-based software solutions for the global life sciences industry. The Company offers solutions for a range of requirements within life sciences companies, including multichannel customer relationship management, regulated content and information management, master data management and customer data.

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Institutional Ownership by Quarter for Veeva Systems (NYSE:VEEV)

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