Veeva Systems Inc. (NYSE:VEEV) Shares Acquired by Fmr LLC

Fmr LLC boosted its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 25.7% in the third quarter, Holdings Channel.com reports. The firm owned 2,981,244 shares of the technology company’s stock after acquiring an additional 610,021 shares during the period. Fmr LLC’s holdings in Veeva Systems were worth $625,674,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in VEEV. Qsemble Capital Management LP purchased a new position in Veeva Systems in the 3rd quarter valued at about $326,000. Linonia Partnership LP lifted its stake in shares of Veeva Systems by 16.7% in the third quarter. Linonia Partnership LP now owns 846,672 shares of the technology company’s stock worth $177,691,000 after acquiring an additional 121,018 shares in the last quarter. Brown Brothers Harriman & Co. boosted its holdings in Veeva Systems by 24.2% in the third quarter. Brown Brothers Harriman & Co. now owns 621 shares of the technology company’s stock valued at $130,000 after purchasing an additional 121 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in Veeva Systems during the 3rd quarter valued at approximately $49,000. Finally, Daiwa Securities Group Inc. grew its stake in Veeva Systems by 69.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 18,006 shares of the technology company’s stock valued at $3,779,000 after purchasing an additional 7,400 shares in the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Wall Street Analyst Weigh In

VEEV has been the topic of a number of recent analyst reports. Raymond James upped their target price on Veeva Systems from $230.00 to $235.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. JPMorgan Chase & Co. increased their price objective on shares of Veeva Systems from $203.00 to $208.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. Royal Bank of Canada raised their price objective on shares of Veeva Systems from $250.00 to $275.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. StockNews.com upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. Finally, Bank of America lifted their price target on Veeva Systems from $204.00 to $240.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Veeva Systems currently has a consensus rating of “Moderate Buy” and an average price target of $236.92.

Veeva Systems Trading Down 0.1 %

NYSE VEEV opened at $226.76 on Friday. The company has a 50-day moving average price of $215.45 and a two-hundred day moving average price of $201.83. The stock has a market cap of $36.72 billion, a price-to-earnings ratio of 60.47, a price-to-earnings-growth ratio of 2.19 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 issued its quarterly earnings data on Wednesday, August 28th. The technology company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.03. Veeva Systems had a return on equity of 13.30% and a net margin of 23.91%. The business had revenue of $676.18 million during the quarter, compared to analyst estimates of $667.21 million. As a group, equities research analysts expect that Veeva Systems Inc. will post 4.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Thomas D. Schwenger sold 1,126 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $240.01, for a total value of $270,251.26. Following the completion of the transaction, the insider now directly owns 27,013 shares in the company, valued at $6,483,390.13. This trade represents a 4.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 10.50% of the stock is currently owned by insiders.

Veeva Systems 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.