Veeva Systems Inc. (NYSE:VEEV) Holdings Raised by Vanguard Group Inc.

Vanguard Group Inc. raised its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 7.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,150,070 shares of the technology company’s stock after buying an additional 991,208 shares during the period. Vanguard Group Inc. owned approximately 8.77% of Veeva Systems worth $3,278,430,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Linscomb & Williams Inc. purchased a new stake in shares of Veeva Systems during the fourth quarter valued at $1,479,000. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Veeva Systems by 32.7% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 206,220 shares of the technology company’s stock worth $365,000 after buying an additional 50,868 shares during the period. Sequoia Financial Advisors LLC increased its position in shares of Veeva Systems by 703.8% in the fourth quarter. Sequoia Financial Advisors LLC now owns 15,594 shares of the technology company’s stock worth $3,002,000 after acquiring an additional 13,654 shares in the last quarter. APG Asset Management US Inc. acquired a new stake in shares of Veeva Systems during the fourth quarter valued at approximately $5,756,000. Finally, Quantum Capital Management LLC NJ lifted its position in shares of Veeva Systems by 9.8% in the 4th quarter. Quantum Capital Management LLC NJ now owns 329,867 shares of the technology company’s stock valued at $63,506,000 after acquiring an additional 29,525 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors.

Veeva Systems Price Performance

NYSE:VEEV traded up $2.82 during midday trading on Friday, reaching $183.25. The stock had a trading volume of 1,046,449 shares, compared to its average volume of 851,148. The stock has a market capitalization of $29.62 billion, a P/E ratio of 54.06, a PEG ratio of 1.80 and a beta of 0.80. Veeva Systems Inc. has a 1-year low of $162.72 and a 1-year high of $236.90. The firm’s fifty day simple moving average is $189.24 and its 200-day simple moving average is $204.68.

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

Insider Buying and Selling at Veeva Systems

In other news, CFO Timothy S. Cabral sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $184.33, for a total transaction of $2,764,950.00. Following the completion of the transaction, the chief financial officer now directly owns 8,391 shares in the company, valued at $1,546,713.03. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Veeva Systems news, CFO Timothy S. Cabral sold 15,000 shares of the firm’s stock in a transaction 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 sale, the chief financial officer now directly owns 8,391 shares in the company, valued at approximately $1,546,713.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Alan Mateo sold 3,391 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $200.86, for a total transaction of $681,116.26. Following the transaction, the executive vice president now owns 21,983 shares in the company, valued at approximately $4,415,505.38. The disclosure for this sale can be found here. Insiders own 10.50% of the company’s stock.

Analyst Ratings Changes

VEEV has been the subject of a number of research analyst reports. Robert W. Baird increased their target price on Veeva Systems from $251.00 to $255.00 and gave the company an “outperform” rating in a report on Wednesday, May 29th. Canaccord Genuity Group lowered their target price on Veeva Systems from $220.00 to $210.00 and set a “hold” rating on the stock in a research note on Friday, May 31st. Raymond James reissued an “outperform” rating and issued a $260.00 price target on shares of Veeva Systems in a research report on Tuesday, March 26th. Guggenheim raised their price target on shares of Veeva Systems from $211.00 to $233.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $260.00 price objective on shares of Veeva Systems in a research note on Monday, July 15th. One research analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, Veeva Systems currently has a consensus rating of “Moderate Buy” and an average price target of $228.27.

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.