Calamos Wealth Management LLC Sells 11,000 Shares of Veeva Systems Inc. (NYSE:VEEV)

Calamos Wealth Management LLC decreased its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 32.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,174 shares of the technology company’s stock after selling 11,000 shares during the period. Calamos Wealth Management LLC’s holdings in Veeva Systems were worth $4,241,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Slow Capital Inc. raised its stake in Veeva Systems by 1.1% in the 2nd quarter. Slow Capital Inc. now owns 12,154 shares of the technology company’s stock worth $2,224,000 after purchasing an additional 128 shares in the last quarter. Premier Path Wealth Partners LLC acquired a new stake in shares of Veeva Systems in the second quarter valued at approximately $267,000. DT Investment Partners LLC bought a new stake in shares of Veeva Systems in the second quarter valued at approximately $35,000. Trust Co of Kansas grew its position in Veeva Systems by 3.3% during the second quarter. Trust Co of Kansas now owns 25,467 shares of the technology company’s stock worth $4,661,000 after buying an additional 803 shares in the last quarter. Finally, Rockland Trust Co. increased its stake in Veeva Systems by 11.2% during the 2nd quarter. Rockland Trust Co. now owns 101,057 shares of the technology company’s stock worth $18,494,000 after acquiring an additional 10,156 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Jonathan Faddis sold 2,353 shares of the business’s stock in a transaction 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 transaction, the senior vice president now owns 9,035 shares in the company, valued at approximately $1,807,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Veeva Systems news, SVP Jonathan Faddis sold 2,353 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $200.00, for a total value of $470,600.00. Following the transaction, the senior vice president now owns 9,035 shares in the company, valued at $1,807,000. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Timothy S. Cabral sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $184.33, for a total value of $2,764,950.00. Following the completion of the sale, the chief financial officer now directly owns 8,391 shares of the company’s stock, valued at approximately $1,546,713.03. The disclosure for this sale can be found here. Company insiders own 10.50% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Canaccord Genuity Group reduced their target price on Veeva Systems from $220.00 to $210.00 and set a “hold” rating on the stock in a report on Friday, May 31st. Robert W. Baird boosted their target price on shares of Veeva Systems from $251.00 to $255.00 and gave the company an “outperform” rating in a research report on Wednesday, May 29th. UBS Group reduced their price target on shares of Veeva Systems from $235.00 to $185.00 and set a “neutral” rating on the stock in a research report on Friday, May 31st. Guggenheim boosted their price objective on shares of Veeva Systems from $211.00 to $233.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Finally, Piper Sandler decreased their price target on Veeva Systems from $235.00 to $225.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, Veeva Systems has a consensus rating of “Moderate Buy” and a consensus target price of $228.27.

Veeva Systems Trading Up 1.1 %

VEEV stock traded up $2.19 during trading on Friday, hitting $199.25. The company had a trading volume of 871,906 shares, compared to its average volume of 726,006. Veeva Systems Inc. has a one year low of $162.72 and a one year high of $236.90. The business has a 50-day moving average of $186.60 and a 200-day moving average of $202.37. The stock has a market cap of $32.21 billion, a PE ratio of 58.78, a PEG ratio of 1.93 and a beta of 0.80.

Veeva Systems (NYSE:VEEV) last released its earnings results on Thursday, May 30th. The technology company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.10. Veeva Systems had a net margin of 22.34% and a return on equity of 12.74%. The business had revenue of $650.35 million for the quarter, compared to analyst estimates of $641.73 million. Research analysts forecast that Veeva Systems Inc. will post 4.19 EPS for the current year.

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.