Apollon Wealth Management LLC Sells 236 Shares of Veeva Systems Inc. (NYSE:VEEV)

Apollon Wealth Management LLC decreased its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 9.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 2,172 shares of the technology company’s stock after selling 236 shares during the quarter. Apollon Wealth Management LLC’s holdings in Veeva Systems were worth $456,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Avantax Advisory Services Inc. acquired a new stake in Veeva Systems in the 1st quarter worth $369,000. Orion Portfolio Solutions LLC grew its position in Veeva Systems by 7.9% during the first quarter. Orion Portfolio Solutions LLC now owns 7,614 shares of the technology company’s stock worth $1,764,000 after buying an additional 560 shares in the last quarter. M&G Plc bought a new position in Veeva Systems during the first quarter valued at about $1,169,000. Vanguard Group Inc. lifted its position in shares of Veeva Systems by 7.5% in the 1st quarter. Vanguard Group Inc. now owns 14,150,070 shares of the technology company’s stock worth $3,278,430,000 after acquiring an additional 991,208 shares during the period. Finally, Ontario Teachers Pension Plan Board grew its holdings in shares of Veeva Systems by 2.7% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 14,674 shares of the technology company’s stock worth $3,400,000 after purchasing an additional 389 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Insider Buying and Selling

In other news, SVP Jonathan Faddis sold 2,353 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $200.00, for a total transaction of $470,600.00. Following the completion of the transaction, the senior vice president now directly owns 9,035 shares in the company, valued at approximately $1,807,000. The trade was a 20.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thomas D. Schwenger sold 1,126 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now owns 27,013 shares in the company, valued at $6,483,390.13. This represents a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.50% of the stock is currently owned by insiders.

Veeva Systems Stock Performance

Shares of VEEV opened at $213.36 on Friday. The business’s fifty day moving average price is $215.37 and its two-hundred day moving average price is $200.77. The firm has a market capitalization of $34.55 billion, a price-to-earnings ratio of 56.90, a PEG ratio of 2.22 and a beta of 0.81. Veeva Systems Inc. has a 52 week low of $165.12 and a 52 week high of $240.68.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings results on Wednesday, August 28th. The technology company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.03. The business had revenue of $676.18 million for the quarter, compared to analysts’ expectations 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 forecast that Veeva Systems Inc. will post 4.21 EPS for the current year.

Wall Street Analyst Weigh In

VEEV has been the subject of a number of recent research reports. Citigroup upped their target price on Veeva Systems from $256.00 to $273.00 and gave the company a “buy” rating in a research note on Tuesday, August 27th. Royal Bank of Canada raised their price objective on shares of Veeva Systems from $250.00 to $275.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Barclays upped their target price on shares of Veeva Systems from $240.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. UBS Group raised their price target on shares of Veeva Systems from $185.00 to $215.00 and gave the stock a “neutral” rating in a research note on Monday, August 26th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $260.00 target price on shares of Veeva Systems in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $237.00.

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.