IFM Investors Pty Ltd boosted its holdings in shares of Veeva Systems Inc (NYSE:VEEV) by 2.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,968 shares of the technology company’s stock after acquiring an additional 205 shares during the quarter. IFM Investors Pty Ltd’s holdings in Veeva Systems were worth $1,454,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of VEEV. Integrated Investment Consultants LLC acquired a new stake in Veeva Systems during the second quarter worth $204,000. Oregon Public Employees Retirement Fund boosted its stake in Veeva Systems by 200.0% during the second quarter. Oregon Public Employees Retirement Fund now owns 43,653 shares of the technology company’s stock worth $7,077,000 after buying an additional 29,100 shares in the last quarter. SevenBridge Financial Group LLC boosted its stake in Veeva Systems by 41.2% during the second quarter. SevenBridge Financial Group LLC now owns 600 shares of the technology company’s stock worth $97,000 after buying an additional 175 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in Veeva Systems by 29.4% during the second quarter. Nisa Investment Advisors LLC now owns 35,205 shares of the technology company’s stock worth $5,707,000 after buying an additional 7,996 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. boosted its stake in Veeva Systems by 65.5% during the second quarter. NN Investment Partners Holdings N.V. now owns 67,999 shares of the technology company’s stock worth $11,022,000 after buying an additional 26,910 shares in the last quarter. 77.51% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:VEEV opened at $170.47 on Friday. Veeva Systems Inc has a 52 week low of $73.47 and a 52 week high of $176.90. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.73 and a quick ratio of 3.73. The firm has a fifty day moving average price of $167.36. The firm has a market cap of $25.10 billion, a P/E ratio of 137.48, a PEG ratio of 8.61 and a beta of 1.41.

Veeva Systems (NYSE:VEEV) last issued its earnings results on Wednesday, May 29th. The technology company reported $0.37 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.08). Veeva Systems had a net margin of 28.41% and a return on equity of 17.61%. The firm had revenue of $244.75 million during the quarter, compared to analyst estimates of $238.69 million. During the same quarter in the prior year, the firm posted $0.33 EPS. The firm’s revenue for the quarter was up 25.2% on a year-over-year basis. On average, equities research analysts predict that Veeva Systems Inc will post 1.6 earnings per share for the current fiscal year.

In related news, SVP Jonathan Faddis sold 1,667 shares of Veeva Systems stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $138.10, for a total value of $230,212.70. Following the completion of the transaction, the senior vice president now directly owns 2,740 shares of the company’s stock, valued at $378,394. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Alan Mateo sold 4,026 shares of Veeva Systems stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $141.12, for a total value of $568,149.12. Following the completion of the transaction, the executive vice president now directly owns 25,200 shares of the company’s stock, valued at $3,556,224. The disclosure for this sale can be found here. Insiders sold a total of 91,506 shares of company stock worth $14,204,551 in the last 90 days. 14.38% of the stock is owned by corporate insiders.

A number of equities research analysts have weighed in on VEEV shares. JMP Securities lifted their price target on shares of Veeva Systems from $122.00 to $153.00 and gave the stock a “market outperform” rating in a research note on Thursday, May 30th. Canaccord Genuity reiterated a “buy” rating and set a $10.00 price target on shares of Synthesis Energy Systems in a research note on Thursday, May 30th. Bank of America set a $77.00 price target on shares of Citigroup and gave the stock a “buy” rating in a research note on Monday, June 10th. Morgan Stanley set a $28.00 price target on shares of BJs Wholesale Club and gave the stock a “hold” rating in a research note on Friday, May 24th. Finally, Goldman Sachs Group started coverage on shares of HubSpot in a research note on Friday, June 7th. They set a “buy” rating and a $223.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $147.00.

Veeva Systems Company Profile

Veeva Systems Inc provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, and internationally. The company offers Veeva Commercial Cloud, a suite of multichannel customer relationship management applications, data solutions, and master data management solutions; and Veeva Vault, a cloud-based enterprise content and data management applications for managing commercial functions, including medical, sales, and marketing, as well as research and development functions, such as clinical, regulatory, quality, and safety.

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

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