Machina Capital S.A.S. bought a new position in shares of Veeva Systems Inc (NYSE:VEEV) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 280 shares of the technology company’s stock, valued at approximately $45,000.

A number of other hedge funds have also recently modified their holdings of the business. BlackRock Inc. grew its stake in shares of Veeva Systems by 7.8% during the 1st quarter. BlackRock Inc. now owns 7,538,880 shares of the technology company’s stock worth $956,382,000 after purchasing an additional 547,246 shares during the period. FMR LLC grew its stake in shares of Veeva Systems by 5.8% during the 1st quarter. FMR LLC now owns 6,269,463 shares of the technology company’s stock worth $795,344,000 after purchasing an additional 342,948 shares during the period. Geode Capital Management LLC grew its stake in shares of Veeva Systems by 15.9% during the 4th quarter. Geode Capital Management LLC now owns 1,307,248 shares of the technology company’s stock worth $116,693,000 after purchasing an additional 179,262 shares during the period. Champlain Investment Partners LLC grew its stake in shares of Veeva Systems by 2.4% during the 1st quarter. Champlain Investment Partners LLC now owns 1,187,335 shares of the technology company’s stock worth $150,625,000 after purchasing an additional 28,335 shares during the period. Finally, Norges Bank acquired a new position in shares of Veeva Systems during the 4th quarter worth $97,108,000. 77.48% of the stock is currently owned by institutional investors.

A number of equities research analysts recently commented on VEEV shares. Goldman Sachs Group started coverage on shares of HubSpot in a research note on Friday, June 7th. They issued a “buy” rating and a $223.00 price objective on the stock. Barclays raised shares of Encompass Health from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $68.00 to $70.00 in a research note on Thursday, May 30th. Stifel Nicolaus set a $154.00 price objective on shares of argenx and gave the company a “buy” rating in a research note on Wednesday, May 22nd. KeyCorp increased their price objective on shares of Veeva Systems from $133.00 to $172.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $10.00 price objective on shares of Synthesis Energy Systems in a research note on Thursday, May 30th. Seven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Veeva Systems has an average rating of “Buy” and a consensus target price of $147.00.

In other news, EVP Alan Mateo sold 4,026 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $141.12, for a total transaction of $568,149.12. Following the transaction, the executive vice president now directly owns 25,200 shares in the company, valued at approximately $3,556,224. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Timothy S. Cabral sold 42,500 shares of the stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $157.50, for a total transaction of $6,693,750.00. Following the transaction, the chief financial officer now owns 22,500 shares in the company, valued at $3,543,750. The disclosure for this sale can be found here. Insiders have sold a total of 91,506 shares of company stock worth $14,204,551 over the last ninety days. 14.38% of the stock is owned by corporate insiders.

Shares of Veeva Systems stock traded down $9.47 during mid-day trading on Monday, hitting $161.00. 43,575 shares of the stock were exchanged, compared to its average volume of 1,034,265. Veeva Systems Inc has a twelve month low of $73.47 and a twelve month high of $176.90. The company has a market cap of $25.10 billion, a PE ratio of 129.66, a price-to-earnings-growth ratio of 8.61 and a beta of 1.41. The stock has a 50-day moving average of $167.36. The company has a quick ratio of 3.73, a current ratio of 3.73 and a debt-to-equity ratio of 0.01.

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

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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