Veeva Systems Inc. (NYSE:VEEV) Shares Purchased by Lannebo Fonder AB

Lannebo Fonder AB increased its position in shares of Veeva Systems Inc. (NYSE:VEEVGet Rating) by 10.7% in the 2nd quarter, Holdings Channel.com reports. The firm owned 83,000 shares of the technology company’s stock after acquiring an additional 8,000 shares during the quarter. Veeva Systems makes up 3.0% of Lannebo Fonder AB’s portfolio, making the stock its 15th biggest holding. Lannebo Fonder AB’s holdings in Veeva Systems were worth $16,437,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of VEEV. O Shaughnessy Asset Management LLC increased its position in shares of Veeva Systems by 12.2% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 893 shares of the technology company’s stock valued at $228,000 after acquiring an additional 97 shares during the last quarter. Schroder Investment Management Group increased its position in shares of Veeva Systems by 12.5% during the fourth quarter. Schroder Investment Management Group now owns 49,886 shares of the technology company’s stock valued at $12,745,000 after acquiring an additional 5,543 shares during the last quarter. Nissay Asset Management Corp Japan ADV increased its position in shares of Veeva Systems by 2.5% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 15,596 shares of the technology company’s stock valued at $3,984,000 after acquiring an additional 383 shares during the last quarter. Nuveen Asset Management LLC increased its position in shares of Veeva Systems by 2.4% during the fourth quarter. Nuveen Asset Management LLC now owns 1,157,474 shares of the technology company’s stock valued at $295,711,000 after acquiring an additional 27,465 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of Veeva Systems by 0.8% in the fourth quarter. State Street Corp now owns 3,006,001 shares of the technology company’s stock valued at $767,973,000 after purchasing an additional 25,317 shares during the period. 80.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

VEEV has been the subject of several recent research reports. UBS Group lowered their price objective on shares of Veeva Systems from $220.00 to $185.00 and set a “neutral” rating for the company in a research note on Thursday, September 1st. Morgan Stanley raised their price objective on shares of Veeva Systems from $175.00 to $190.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 16th. Royal Bank of Canada lowered their price objective on shares of Veeva Systems from $250.00 to $225.00 and set an “outperform” rating for the company in a research note on Thursday, September 1st. The Goldman Sachs Group lowered their price objective on shares of Veeva Systems to $235.00 in a research note on Tuesday, September 6th. Finally, Needham & Company LLC lowered their price objective on shares of Veeva Systems from $270.00 to $205.00 and set a “buy” rating for the company in a research note on Thursday, June 2nd. Seven equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $223.05.

Veeva Systems Price Performance

NYSE:VEEV traded down $1.96 on Friday, reaching $160.92. The stock had a trading volume of 22,911 shares, compared to its average volume of 1,213,843. The company has a market cap of $24.99 billion, a price-to-earnings ratio of 67.03, a P/E/G ratio of 3.95 and a beta of 0.76. The firm’s fifty day moving average is $202.74 and its two-hundred day moving average is $193.13. Veeva Systems Inc. has a 12-month low of $152.04 and a 12-month high of $327.78.

Veeva Systems (NYSE:VEEVGet Rating) last posted its quarterly earnings data on Wednesday, August 31st. The technology company reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.02. The company had revenue of $534.20 million during the quarter, compared to the consensus estimate of $530.70 million. Veeva Systems had a net margin of 19.67% and a return on equity of 13.40%. The company’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.64 EPS. As a group, research analysts forecast that Veeva Systems Inc. will post 2.55 earnings per share for the current fiscal year.

Insider Buying and Selling at Veeva Systems

In related news, Director Paul Edward Chamberlain sold 260 shares of the firm’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $179.99, for a total transaction of $46,797.40. Following the transaction, the director now directly owns 16,443 shares in the company, valued at $2,959,575.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Paul Edward Chamberlain sold 260 shares of the firm’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $179.99, for a total transaction of $46,797.40. Following the transaction, the director now directly owns 16,443 shares of the company’s stock, valued at $2,959,575.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Matthew J. Wallach sold 10,000 shares of Veeva Systems stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $169.27, for a total value of $1,692,700.00. Following the transaction, the director now directly owns 2,546 shares in the company, valued at $430,961.42. The disclosure for this sale can be found here. 13.23% of the stock is owned by corporate insiders.

Veeva Systems Company Profile

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Veeva Systems Inc provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, the Middle East, Africa, and Latin America. The company offers Veeva Commercial Cloud, a suite of software, data, and analytics solutions, which include Veeva customer relationship management (CRM) and Veeva Medical CRM, Veeva CLM, Veeva CRM MyInsights, Veeva CLM, Veeva CRM Approved Email, Veeva CRM Engage, Veeva Align, Veeva CRM Events Management, Veeva Nitro, Veeva OpenData, Veeva Link, Veeva Network, Veeva Crossix, Veeva Data Cloud, and MyVeeva for Patients; and Veeva Vault, a cloud-based enterprise content and data management applications for managing commercial functions, including sales and marketing, and medical content and communications, 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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