Schroder Investment Management Group Increases Stake in Veeva Systems Inc. (NYSE:VEEV)

Schroder Investment Management Group grew its holdings in Veeva Systems Inc. (NYSE:VEEVFree Report) by 46.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 200,161 shares of the technology company’s stock after buying an additional 63,134 shares during the quarter. Schroder Investment Management Group owned 0.12% of Veeva Systems worth $40,723,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Bleakley Financial Group LLC boosted its stake in Veeva Systems by 76.8% during the second quarter. Bleakley Financial Group LLC now owns 4,958 shares of the technology company’s stock worth $980,000 after buying an additional 2,154 shares during the last quarter. Treasurer of the State of North Carolina boosted its stake in Veeva Systems by 5.7% during the second quarter. Treasurer of the State of North Carolina now owns 66,496 shares of the technology company’s stock worth $13,148,000 after buying an additional 3,600 shares during the last quarter. Frontier Capital Management Co. LLC boosted its stake in Veeva Systems by 26.8% during the second quarter. Frontier Capital Management Co. LLC now owns 574,955 shares of the technology company’s stock worth $113,686,000 after buying an additional 121,522 shares during the last quarter. Aviva PLC boosted its stake in Veeva Systems by 16.2% during the third quarter. Aviva PLC now owns 57,832 shares of the technology company’s stock worth $11,766,000 after buying an additional 8,044 shares during the last quarter. Finally, Cantor Fitzgerald L. P. boosted its stake in Veeva Systems by 4,306.0% during the second quarter. Cantor Fitzgerald L. P. now owns 91,425 shares of the technology company’s stock worth $18,077,000 after buying an additional 89,350 shares during the last quarter. 80.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on VEEV. Needham & Company LLC lifted their target price on Veeva Systems from $220.00 to $260.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Morgan Stanley reduced their target price on Veeva Systems from $181.00 to $160.00 and set an “underweight” rating on the stock in a research report on Monday, November 13th. The Goldman Sachs Group lifted their target price on Veeva Systems from $219.00 to $248.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Citigroup boosted their price objective on Veeva Systems from $240.00 to $264.00 and gave the company a “buy” rating in a report on Friday, March 1st. Finally, JPMorgan Chase & Co. cut their price objective on Veeva Systems from $188.00 to $183.00 and set a “neutral” rating on the stock in a report on Wednesday, November 29th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $229.95.

Check Out Our Latest Research Report on Veeva Systems

Insider Activity

In other news, Director Timothy S. Cabral sold 15,000 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $226.04, for a total value of $3,390,600.00. Following the transaction, the director now directly owns 23,391 shares of the company’s stock, valued at $5,287,301.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Veeva Systems news, Director Timothy S. Cabral sold 15,000 shares of the stock in a transaction on 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 transaction, the director now directly owns 23,391 shares of the company’s stock, valued at $5,287,301.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Timothy S. Cabral sold 5,000 shares of the firm’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $181.44, for a total value of $907,200.00. Following the completion of the sale, the director now directly owns 38,391 shares in the company, valued at $6,965,663.04. The disclosure for this sale can be found here. Insiders sold 40,819 shares of company stock worth $8,327,483 over the last quarter. Corporate insiders own 10.98% of the company’s stock.

Veeva Systems Stock Up 2.5 %

Shares of VEEV stock opened at $230.14 on Friday. The business has a 50 day moving average of $210.33 and a two-hundred day moving average of $199.47. Veeva Systems Inc. has a 52 week low of $160.21 and a 52 week high of $230.65. The company has a market cap of $37.06 billion, a P/E ratio of 71.47, a PEG ratio of 2.67 and a beta of 0.74.

Veeva Systems (NYSE:VEEVGet Free Report) last released its earnings results on Wednesday, December 6th. The technology company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.05. Veeva Systems had a return on equity of 11.59% and a net margin of 22.24%. The firm had revenue of $616.51 million during the quarter, compared to the consensus estimate of $615.98 million. During the same period in the prior year, the firm posted $0.69 earnings per share. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. Analysts expect that Veeva Systems Inc. will post 3.5 EPS for the current fiscal year.

Veeva Systems Company Profile

(Free Report)

Veeva Systems Inc provides cloud-based software for the life sciences industry. It offers Veeva Commercial Cloud, a suite of software and data 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.

See Also

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

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