Robeco Institutional Asset Management B.V. Purchases 50,868 Shares of Veeva Systems Inc. (NYSE:VEEV)

Robeco Institutional Asset Management B.V. boosted its position in Veeva Systems Inc. (NYSE:VEEV) by 32.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 206,220 shares of the technology company’s stock after purchasing an additional 50,868 shares during the period. Robeco Institutional Asset Management B.V. owned about 0.13% of Veeva Systems worth $365,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in VEEV. Sequoia Financial Advisors LLC grew its position in shares of Veeva Systems by 703.8% during the 4th quarter. Sequoia Financial Advisors LLC now owns 15,594 shares of the technology company’s stock valued at $3,002,000 after acquiring an additional 13,654 shares during the period. Nordea Investment Management AB lifted its stake in shares of Veeva Systems by 5.2% during the 4th quarter. Nordea Investment Management AB now owns 163,247 shares of the technology company’s stock valued at $31,730,000 after buying an additional 8,007 shares in the last quarter. ICICI Prudential Asset Management Co Ltd lifted its stake in shares of Veeva Systems by 13.1% during the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 49,140 shares of the technology company’s stock valued at $9,460,000 after buying an additional 5,674 shares in the last quarter. Lecap Asset Management Ltd. purchased a new stake in shares of Veeva Systems during the 4th quarter valued at approximately $2,668,000. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Veeva Systems by 6.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,167,960 shares of the technology company’s stock valued at $417,376,000 after buying an additional 122,546 shares in the last quarter. 88.20% of the stock is owned by institutional investors.

Veeva Systems Stock Performance

Shares of Veeva Systems stock opened at $203.89 on Friday. The stock has a market capitalization of $32.89 billion, a PE ratio of 63.32, a price-to-earnings-growth ratio of 1.96 and a beta of 0.76. Veeva Systems Inc. has a 52-week low of $161.39 and a 52-week high of $236.90. The company has a 50-day simple moving average of $211.14 and a two-hundred day simple moving average of $203.22.

Veeva Systems (NYSE:VEEV) last issued its earnings results on Thursday, February 29th. The technology company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.11. The business had revenue of $630.62 million during the quarter, compared to analysts’ expectations of $620.75 million. Veeva Systems had a net margin of 22.24% and a return on equity of 11.26%. As a group, equities research analysts forecast that Veeva Systems Inc. will post 4.11 EPS for the current fiscal year.

Insider Transactions at Veeva Systems

In related news, EVP Alan Mateo sold 3,391 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $200.86, for a total transaction of $681,116.26. Following the completion of the sale, the executive vice president now directly owns 21,983 shares in the company, valued at $4,415,505.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Veeva Systems news, SVP Jonathan Faddis sold 3,598 shares of Veeva Systems stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $207.42, for a total transaction of $746,297.16. Following the transaction, the senior vice president now owns 10,668 shares of the company’s stock, valued at $2,212,756.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Alan Mateo sold 3,391 shares of Veeva Systems stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $200.86, for a total transaction of $681,116.26. Following the transaction, the executive vice president now directly owns 21,983 shares in the company, valued at approximately $4,415,505.38. The disclosure for this sale can be found here. Insiders sold 21,989 shares of company stock worth $4,818,013 over the last three months. 10.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Jefferies Financial Group increased their target price on shares of Veeva Systems from $225.00 to $270.00 and gave the stock a “buy” rating in a research note on Monday, March 4th. KeyCorp increased their target price on shares of Veeva Systems from $232.00 to $250.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. The Goldman Sachs Group increased their target price on shares of Veeva Systems from $219.00 to $248.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Stifel Nicolaus increased their target price on shares of Veeva Systems from $205.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Finally, Robert W. Baird increased their target price on shares of Veeva Systems from $245.00 to $251.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Veeva Systems has an average rating of “Moderate Buy” and an average price target of $234.90.

About Veeva Systems

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.