DNB Asset Management AS Grows Position in Veeva Systems Inc. (NYSE:VEEV)

DNB Asset Management AS lifted its holdings in shares of Veeva Systems Inc. (NYSE:VEEVGet Rating) by 14.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,179 shares of the technology company’s stock after buying an additional 3,115 shares during the period. DNB Asset Management AS’s holdings in Veeva Systems were worth $5,137,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. FourThought Financial LLC boosted its position in shares of Veeva Systems by 37.4% during the fourth quarter. FourThought Financial LLC now owns 169 shares of the technology company’s stock valued at $43,000 after buying an additional 46 shares during the last quarter. United Capital Financial Advisers LLC lifted its holdings in Veeva Systems by 6.1% in the third quarter. United Capital Financial Advisers LLC now owns 857 shares of the technology company’s stock valued at $247,000 after acquiring an additional 49 shares during the period. Conestoga Capital Advisors LLC lifted its holdings in Veeva Systems by 1.8% in the fourth quarter. Conestoga Capital Advisors LLC now owns 2,785 shares of the technology company’s stock valued at $712,000 after acquiring an additional 50 shares during the period. Suncoast Equity Management lifted its holdings in Veeva Systems by 5.2% in the fourth quarter. Suncoast Equity Management now owns 1,015 shares of the technology company’s stock valued at $259,000 after acquiring an additional 50 shares during the period. Finally, Jackson Wealth Management LLC lifted its holdings in Veeva Systems by 0.3% in the third quarter. Jackson Wealth Management LLC now owns 15,614 shares of the technology company’s stock valued at $83,000 after acquiring an additional 51 shares during the period.

Shares of VEEV opened at $187.67 on Thursday. The company’s fifty day moving average is $178.10 and its 200 day moving average is $208.79. Veeva Systems Inc. has a fifty-two week low of $152.04 and a fifty-two week high of $343.96. The stock has a market capitalization of $29.06 billion, a PE ratio of 73.89, a P/E/G ratio of 3.83 and a beta of 0.86.

Veeva Systems (NYSE:VEEVGet Rating) last announced its quarterly earnings results on Wednesday, June 1st. The technology company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.03. Veeva Systems had a net margin of 21.43% and a return on equity of 14.60%. The company had revenue of $505.10 million for the quarter, compared to analysts’ expectations of $495.88 million. During the same quarter in the previous year, the business posted $0.67 earnings per share. Veeva Systems’s quarterly revenue was up 16.5% on a year-over-year basis. Analysts anticipate that Veeva Systems Inc. will post 2.79 earnings per share for the current year.

In other Veeva Systems news, Director Ronald E. F. Codd sold 20,000 shares of the business’s stock in a transaction on Wednesday, April 6th. The shares were sold at an average price of $207.14, for a total transaction of $4,142,800.00. Following the transaction, the director now owns 442 shares in the company, valued at $91,555.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Michele O’connor sold 371 shares of the business’s stock in a transaction on Friday, June 3rd. The shares were sold at an average price of $189.37, for a total transaction of $70,256.27. Following the transaction, the chief accounting officer now owns 15,833 shares in the company, valued at approximately $2,998,295.21. The disclosure for this sale can be found here. Insiders sold 41,371 shares of company stock worth $8,460,376 in the last 90 days. 13.23% of the stock is currently owned by company insiders.

A number of research analysts have weighed in on VEEV shares. Robert W. Baird lowered their target price on Veeva Systems from $303.00 to $288.00 in a report on Thursday, March 3rd. Barclays decreased their price objective on Veeva Systems from $237.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 24th. SVB Leerink reaffirmed a “buy” rating and issued a $268.00 price objective on shares of Veeva Systems in a research note on Monday, March 14th. Needham & Company LLC decreased their price objective on Veeva Systems from $270.00 to $205.00 and set a “buy” rating on the stock in a research note on Thursday, June 2nd. Finally, Canaccord Genuity Group decreased their price objective on Veeva Systems from $300.00 to $200.00 and set a “hold” rating on the stock in a research note on Thursday, June 2nd. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Veeva Systems presently has an average rating of “Moderate Buy” and an average price target of $261.11.

Veeva Systems Company Profile (Get Rating)

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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