Robeco Institutional Asset Management B.V. Has $10.83 Million Stake in Veeva Systems Inc. (NYSE:VEEV)

Robeco Institutional Asset Management B.V. boosted its position in Veeva Systems Inc. (NYSE:VEEV – Get Rating) by 15.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 65,665 shares of the technology company’s stock after acquiring an additional 9,009 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Veeva Systems were worth $10,829,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its stake in Veeva Systems by 14.3% in the second quarter. Price T Rowe Associates Inc. MD now owns 16,414,343 shares of the technology company’s stock valued at $3,250,696,000 after acquiring an additional 2,056,275 shares during the last quarter. Vanguard Group Inc. increased its stake in Veeva Systems by 0.9% in the third quarter. Vanguard Group Inc. now owns 13,294,729 shares of the technology company’s stock valued at $2,192,035,000 after acquiring an additional 119,298 shares during the last quarter. Artisan Partners Limited Partnership increased its stake in Veeva Systems by 6.4% in the third quarter. Artisan Partners Limited Partnership now owns 9,393,531 shares of the technology company’s stock valued at $1,548,805,000 after acquiring an additional 563,361 shares during the last quarter. Alliancebernstein L.P. increased its stake in Veeva Systems by 19.1% in the third quarter. Alliancebernstein L.P. now owns 5,922,651 shares of the technology company’s stock valued at $976,527,000 after acquiring an additional 951,240 shares during the last quarter. Finally, State Street Corp increased its stake in Veeva Systems by 0.7% in the third quarter. State Street Corp now owns 2,911,200 shares of the technology company’s stock valued at $479,999,000 after acquiring an additional 20,039 shares during the last quarter. 78.76% of the stock is owned by institutional investors.

Veeva Systems Trading Down 1.8 %

Shares of NYSE VEEV opened at $172.63 on Friday. The firm’s 50-day moving average price is $169.92 and its 200-day moving average price is $170.24. Veeva Systems Inc. has a 1-year low of $151.02 and a 1-year high of $232.26. The firm has a market capitalization of $26.88 billion, a P/E ratio of 57.35, a P/E/G ratio of 3.92 and a beta of 0.90.

Insider Activity

In other news, CAO Michele O’connor sold 7,400 shares of the company’s stock in a transaction dated Wednesday, January 4th. The shares were sold at an average price of $163.11, for a total transaction of $1,207,014.00. Following the transaction, the chief accounting officer now owns 8,676 shares in the company, valued at $1,415,142.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Michele O’connor sold 7,400 shares of the company’s stock in a transaction dated Wednesday, January 4th. The shares were sold at an average price of $163.11, for a total value of $1,207,014.00. Following the sale, the chief accounting officer now owns 8,676 shares in the company, valued at approximately $1,415,142.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Paul Edward Chamberlain sold 160 shares of the company’s stock in a transaction dated Friday, March 10th. The stock was sold at an average price of $169.42, for a total transaction of $27,107.20. Following the completion of the sale, the director now owns 16,776 shares in the company, valued at approximately $2,842,189.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 97,224 shares of company stock worth $16,003,460. Company insiders own 13.23% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Barclays decreased their price objective on shares of Veeva Systems from $205.00 to $197.00 and set an “overweight” rating on the stock in a research note on Thursday, March 2nd. Morgan Stanley decreased their target price on shares of Veeva Systems from $190.00 to $181.00 and set an “equal weight” rating on the stock in a research note on Friday, January 6th. StockNews.com initiated coverage on shares of Veeva Systems in a research note on Thursday. They set a “hold” rating on the stock. Raymond James decreased their target price on shares of Veeva Systems from $215.00 to $200.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 17th. Finally, Guggenheim cut shares of Veeva Systems from a “buy” rating to a “neutral” rating in a research note on Thursday, February 23rd. Twelve research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Veeva Systems has an average rating of “Moderate Buy” and a consensus price target of $204.39.

Veeva Systems Company Profile

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Veeva Systems, Inc engages in the provision of industry cloud solutions for the global life sciences industry. Its solutions enable pharmaceutical and other life sciences companies to realize the benefits of modern cloud-based architectures and mobile applications for their most critical business functions, without compromising industry-specific functionality or regulatory compliance.