Zurcher Kantonalbank Zurich Cantonalbank Increases Position in Veeva Systems Inc. (NYSE:VEEV)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in Veeva Systems Inc. (NYSE:VEEV) by 67.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 57,203 shares of the technology company’s stock after purchasing an additional 23,032 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Veeva Systems were worth $11,013,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of VEEV. MetLife Investment Management LLC purchased a new stake in shares of Veeva Systems in the 1st quarter valued at approximately $1,906,000. Dimensional Fund Advisors LP boosted its stake in Veeva Systems by 1.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 190,289 shares of the technology company’s stock worth $40,430,000 after purchasing an additional 3,286 shares during the period. Sequoia Financial Advisors LLC boosted its stake in Veeva Systems by 11.5% during the 1st quarter. Sequoia Financial Advisors LLC now owns 1,018 shares of the technology company’s stock worth $216,000 after purchasing an additional 105 shares during the period. National Pension Service boosted its stake in Veeva Systems by 3.0% during the 1st quarter. National Pension Service now owns 195,170 shares of the technology company’s stock worth $41,466,000 after purchasing an additional 5,607 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Veeva Systems by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 12,888,204 shares of the technology company’s stock worth $2,738,229,000 after purchasing an additional 132,560 shares during the period. 88.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

VEEV has been the subject of a number of recent research reports. Stifel Nicolaus increased their price target on shares of Veeva Systems from $205.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. StockNews.com upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. Robert W. Baird increased their price target on shares of Veeva Systems from $245.00 to $251.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st. Needham & Company LLC reiterated a “buy” rating and set a $260.00 price target on shares of Veeva Systems in a research note on Tuesday, April 2nd. Finally, Jefferies Financial Group raised their target price on shares of Veeva Systems from $225.00 to $270.00 and gave the stock a “buy” rating in a research note on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $234.90.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, Director Timothy S. Cabral sold 15,000 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $226.04, for a total transaction of $3,390,600.00. Following the completion of the transaction, the director now directly owns 23,391 shares in the company, valued at approximately $5,287,301.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Veeva Systems news, COO Thomas D. Schwenger sold 1,238 shares of the firm’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $210.02, for a total transaction of $260,004.76. Following the completion of the transaction, the chief operating officer now directly owns 24,342 shares in the company, valued at approximately $5,112,306.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Timothy S. Cabral sold 15,000 shares of Veeva Systems stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $226.04, for a total transaction of $3,390,600.00. Following the sale, the director now owns 23,391 shares of the company’s stock, valued at $5,287,301.64. The disclosure for this sale can be found here. In the last three months, insiders sold 19,836 shares of company stock worth $4,396,902. 10.98% of the stock is owned by corporate insiders.

Veeva Systems Stock Down 0.6 %

Shares of NYSE VEEV opened at $198.37 on Friday. Veeva Systems Inc. has a 52 week low of $160.21 and a 52 week high of $236.90. The firm has a 50-day moving average price of $221.17 and a 200 day moving average price of $202.80. The stock has a market capitalization of $32.00 billion, a price-to-earnings ratio of 61.61, a price-to-earnings-growth ratio of 2.02 and a beta of 0.74.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Thursday, February 29th. The technology company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.81 by $0.11. Veeva Systems had a net margin of 22.24% and a return on equity of 11.26%. The firm had revenue of $630.62 million during the quarter, compared to analysts’ expectations of $620.75 million. Equities research analysts expect that Veeva Systems Inc. will post 4.11 EPS for the current fiscal year.

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.