Vanguard Personalized Indexing Management LLC Acquires 1,350 Shares of Veeva Systems Inc. (NYSE:VEEV)

Vanguard Personalized Indexing Management LLC raised its holdings in shares of Veeva Systems Inc. (NYSE:VEEVFree Report) by 16.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,372 shares of the technology company’s stock after buying an additional 1,350 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Veeva Systems were worth $1,907,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of VEEV. OFI Invest Asset Management purchased a new position in shares of Veeva Systems during the third quarter valued at approximately $25,000. Rise Advisors LLC raised its stake in shares of Veeva Systems by 424.0% during the third quarter. Rise Advisors LLC now owns 131 shares of the technology company’s stock valued at $27,000 after acquiring an additional 106 shares in the last quarter. Nkcfo LLC bought a new stake in shares of Veeva Systems during the second quarter valued at approximately $30,000. Resurgent Financial Advisors LLC bought a new stake in shares of Veeva Systems during the fourth quarter valued at approximately $33,000. Finally, First Pacific Advisors LP bought a new stake in shares of Veeva Systems during the second quarter valued at approximately $35,000. Hedge funds and other institutional investors own 80.07% of the company’s stock.

Insider Transactions at Veeva Systems

In other news, COO Thomas D. Schwenger sold 1,238 shares of the stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $210.02, for a total transaction of $260,004.76. Following the sale, the chief operating officer now directly owns 24,342 shares of the company’s stock, valued at approximately $5,112,306.84. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP Alan Mateo sold 6,280 shares of the company’s stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $190.00, for a total transaction of $1,193,200.00. Following the completion of the transaction, the executive vice president now owns 21,983 shares in the company, valued at approximately $4,176,770. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Thomas D. Schwenger sold 1,238 shares of the company’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $210.02, for a total transaction of $260,004.76. Following the transaction, the chief operating officer now owns 24,342 shares of the company’s stock, valued at approximately $5,112,306.84. The disclosure for this sale can be found here. Insiders have sold a total of 40,819 shares of company stock valued at $7,520,033 in the last ninety days. 10.98% of the stock is currently owned by corporate insiders.

Veeva Systems Price Performance

Shares of VEEV opened at $216.76 on Friday. The firm has a market capitalization of $34.90 billion, a PE ratio of 62.29, a price-to-earnings-growth ratio of 2.54 and a beta of 0.74. Veeva Systems Inc. has a 1-year low of $160.21 and a 1-year high of $225.49. The company’s fifty day moving average price is $195.29 and its 200-day moving average price is $196.00.

Veeva Systems (NYSE:VEEVGet Free Report) last posted its quarterly earnings results on Wednesday, December 6th. The technology company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.29 by $0.05. Veeva Systems had a net margin of 24.68% and a return on equity of 10.91%. The company had revenue of $616.51 million for the quarter, compared to analyst estimates of $615.98 million. During the same period in the prior year, the company earned $0.69 earnings per share. The firm’s revenue was up 11.6% on a year-over-year basis. As a group, research analysts anticipate that Veeva Systems Inc. will post 2.84 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. The Goldman Sachs Group decreased their price target on shares of Veeva Systems from $244.00 to $216.00 and set a “buy” rating for the company in a research note on Monday, November 13th. Needham & Company LLC reissued a “buy” rating and issued a $220.00 price objective on shares of Veeva Systems in a research note on Thursday, December 7th. JPMorgan Chase & Co. reduced their price objective on shares of Veeva Systems from $188.00 to $183.00 and set a “neutral” rating for the company in a research note on Wednesday, November 29th. KeyCorp boosted their price objective on shares of Veeva Systems from $210.00 to $232.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $205.00 price objective on shares of Veeva Systems in a research note on Thursday, December 7th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $217.18.

View Our Latest Analysis on VEEV

Veeva Systems Company Profile

(Free Report)

Veeva Systems Inc provides cloud-based software for the life sciences industry. It offers Veeva Commercial Cloud, a suite of software and data 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.

Further Reading

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Institutional Ownership by Quarter for Veeva Systems (NYSE:VEEV)

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