Vinva Investment Management Ltd Buys 556 Shares of Veeva Systems Inc. (NYSE:VEEV)

Vinva Investment Management Ltd increased its stake in Veeva Systems Inc. (NYSE:VEEV) by 9.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,767 shares of the technology company’s stock after purchasing an additional 556 shares during the quarter. Vinva Investment Management Ltd’s holdings in Veeva Systems were worth $1,427,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Fiduciary Trust Co lifted its holdings in shares of Veeva Systems by 0.9% during the 3rd quarter. Fiduciary Trust Co now owns 8,289 shares of the technology company’s stock valued at $1,740,000 after buying an additional 71 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Veeva Systems by 17.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 77,653 shares of the technology company’s stock valued at $16,297,000 after acquiring an additional 11,433 shares during the last quarter. Townsquare Capital LLC lifted its holdings in Veeva Systems by 35.7% in the third quarter. Townsquare Capital LLC now owns 4,762 shares of the technology company’s stock valued at $999,000 after acquiring an additional 1,253 shares during the period. Brooklyn Investment Group purchased a new position in Veeva Systems in the third quarter worth about $68,000. Finally, D.A. Davidson & CO. boosted its position in Veeva Systems by 2.5% in the third quarter. D.A. Davidson & CO. now owns 5,630 shares of the technology company’s stock worth $1,182,000 after purchasing an additional 136 shares during the last quarter. Institutional investors own 88.20% of the company’s stock.

Insider Activity at Veeva Systems

In related news, insider Thomas D. Schwenger sold 1,126 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $240.01, for a total transaction of $270,251.26. Following the completion of the transaction, the insider now owns 27,013 shares in the company, valued at $6,483,390.13. The trade was a 4.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 10.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

VEEV has been the subject of several recent research reports. BNP Paribas initiated coverage on shares of Veeva Systems in a research report on Tuesday, October 8th. They set an “outperform” rating and a $286.00 target price for the company. Needham & Company LLC reissued a “buy” rating and set a $260.00 price objective on shares of Veeva Systems in a research report on Friday, November 8th. JPMorgan Chase & Co. raised their target price on Veeva Systems from $203.00 to $208.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. Guggenheim lifted their target price on Veeva Systems from $233.00 to $249.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Finally, Barclays upped their price target on Veeva Systems from $240.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $236.92.

Veeva Systems Stock Up 0.5 %

Shares of VEEV opened at $227.94 on Friday. The business has a fifty day moving average of $215.71 and a 200 day moving average of $202.00. The company has a market cap of $36.91 billion, a PE ratio of 60.78, a P/E/G ratio of 2.20 and a beta of 0.81. Veeva Systems Inc. has a 52-week low of $165.12 and a 52-week high of $240.68.

Veeva Systems (NYSE:VEEV) last released its earnings results on Wednesday, August 28th. The technology company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.03. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. The firm had revenue of $676.18 million during the quarter, compared to analyst estimates of $667.21 million. As a group, research analysts anticipate that Veeva Systems Inc. will post 4.19 earnings per share for the current fiscal year.

Veeva Systems Company Profile

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.