Ownership Capital B.V. Reduces Holdings in Veeva Systems Inc. (NYSE:VEEV)

Ownership Capital B.V. trimmed its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 2.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,088,483 shares of the technology company’s stock after selling 33,083 shares during the quarter. Veeva Systems accounts for approximately 4.7% of Ownership Capital B.V.’s investment portfolio, making the stock its 11th largest position. Ownership Capital B.V. owned 0.68% of Veeva Systems worth $209,555,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of VEEV. Unique Wealth Strategies LLC purchased a new stake in shares of Veeva Systems during the fourth quarter valued at $559,000. Motley Fool Asset Management LLC boosted its stake in shares of Veeva Systems by 6.3% during the fourth quarter. Motley Fool Asset Management LLC now owns 4,776 shares of the technology company’s stock valued at $919,000 after purchasing an additional 282 shares during the period. State of New Jersey Common Pension Fund D boosted its stake in shares of Veeva Systems by 5.1% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 87,095 shares of the technology company’s stock valued at $16,768,000 after purchasing an additional 4,218 shares during the period. Stevens Capital Management LP purchased a new stake in shares of Veeva Systems during the fourth quarter valued at $233,000. Finally, Pittenger & Anderson Inc. boosted its stake in shares of Veeva Systems by 269.3% during the fourth quarter. Pittenger & Anderson Inc. now owns 2,297 shares of the technology company’s stock valued at $442,000 after purchasing an additional 1,675 shares during the period. 88.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Alan Mateo sold 3,391 shares of the stock in a transaction that occurred on 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Veeva Systems news, EVP Alan Mateo sold 3,391 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $200.86, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Timothy S. Cabral sold 15,000 shares of the firm’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 completion of the transaction, the director now owns 23,391 shares in the company, valued at approximately $5,287,301.64. The disclosure for this sale can be found here. Insiders have sold 21,989 shares of company stock worth $4,818,013 in the last quarter. Corporate insiders own 10.98% of the company’s stock.

Veeva Systems Stock Up 0.9 %

Shares of NYSE VEEV traded up $1.82 during midday trading on Friday, reaching $200.91. 848,504 shares of the stock were exchanged, compared to its average volume of 941,040. The firm has a market cap of $32.41 billion, a price-to-earnings ratio of 62.39, a PEG ratio of 2.01 and a beta of 0.74. Veeva Systems Inc. has a twelve month low of $160.21 and a twelve month high of $236.90. The firm has a 50-day simple moving average of $219.27 and a two-hundred day simple moving average of $202.63.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Thursday, February 29th. The technology company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.11. The business had revenue of $630.62 million for the quarter, compared to analysts’ expectations of $620.75 million. Veeva Systems had a net margin of 22.24% and a return on equity of 11.26%. Research analysts expect that Veeva Systems Inc. will post 4.11 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Jefferies Financial Group upped their price objective on shares of Veeva Systems from $225.00 to $270.00 and gave the stock a “buy” rating in a research note on Monday, March 4th. Robert W. Baird upped their price objective on shares of Veeva Systems from $245.00 to $251.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st. Barclays upped their price objective on shares of Veeva Systems from $240.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st. Raymond James reaffirmed an “outperform” rating and issued a $260.00 price objective on shares of Veeva Systems in a research note on Tuesday, March 26th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 price objective on shares of Veeva Systems in a research note on Wednesday, March 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $234.90.

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.