Sterling Capital Management LLC held its position in Veeva Systems Inc. (NYSE:VEEV) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 83,535 shares of the technology company’s stock at the end of the 2nd quarter. Sterling Capital Management LLC owned 0.06% of Veeva Systems worth $5,122,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Veeva Systems by 3.3% during the second quarter. Vanguard Group Inc. now owns 9,125,993 shares of the technology company’s stock valued at $559,515,000 after purchasing an additional 290,865 shares in the last quarter. BlackRock Inc. raised its stake in shares of Veeva Systems by 44.9% in the second quarter. BlackRock Inc. now owns 5,812,749 shares of the technology company’s stock valued at $356,379,000 after acquiring an additional 1,801,439 shares during the period. FMR LLC raised its stake in shares of Veeva Systems by 50.9% in the second quarter. FMR LLC now owns 3,456,402 shares of the technology company’s stock valued at $211,912,000 after acquiring an additional 1,166,372 shares during the period. First Trust Advisors LP raised its stake in shares of Veeva Systems by 1.2% in the second quarter. First Trust Advisors LP now owns 2,085,958 shares of the technology company’s stock valued at $127,890,000 after acquiring an additional 25,655 shares during the period. Finally, State Street Corp raised its stake in shares of Veeva Systems by 52.1% in the second quarter. State Street Corp now owns 1,856,894 shares of the technology company’s stock valued at $113,851,000 after acquiring an additional 635,842 shares during the period. 71.46% of the stock is currently owned by institutional investors.

In other Veeva Systems news, EVP Alan Mateo sold 8,025 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $62.89, for a total transaction of $504,692.25. Following the sale, the executive vice president now directly owns 14,010 shares in the company, valued at $881,088.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gordon Ritter sold 10,200 shares of the business’s stock in a transaction dated Wednesday, October 11th. The stock was sold at an average price of $57.13, for a total transaction of $582,726.00. The disclosure for this sale can be found here. Insiders have sold 271,612 shares of company stock worth $15,873,361 over the last quarter. Insiders own 19.17% of the company’s stock.

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Veeva Systems Inc. (NYSE VEEV) traded down 0.99% on Friday, reaching $58.93. 989,837 shares of the company traded hands. The stock has a 50 day moving average of $57.16 and a 200-day moving average of $58.91. Veeva Systems Inc. has a 1-year low of $37.34 and a 1-year high of $68.07. The stock has a market capitalization of $8.29 billion, a price-to-earnings ratio of 75.36 and a beta of 1.62.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings results on Thursday, August 24th. The technology company reported $0.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.03. The company had revenue of $166.59 million for the quarter, compared to analyst estimates of $164.26 million. Veeva Systems had a net margin of 18.98% and a return on equity of 12.77%. The business’s revenue for the quarter was up 26.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.15 earnings per share. On average, equities analysts anticipate that Veeva Systems Inc. will post $0.87 EPS for the current year.

Several equities research analysts have recently weighed in on the stock. Stifel Nicolaus reissued a “buy” rating and issued a $67.00 target price on shares of Veeva Systems in a research note on Friday. Zacks Investment Research raised shares of Veeva Systems from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a research note on Wednesday. BidaskClub downgraded shares of Veeva Systems from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 14th. Needham & Company LLC reissued a “buy” rating on shares of Veeva Systems in a research note on Thursday. Finally, Canaccord Genuity reissued a “buy” rating and issued a $70.00 target price on shares of Veeva Systems in a research note on Tuesday, August 22nd. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $65.75.

Veeva Systems Company Profile

Veeva Systems Inc (Veeva) is a provider of cloud-based software solutions for the global life sciences industry. The Company offers solutions for a range of requirements within life sciences companies, including multichannel customer relationship management, regulated content and information management, master data management and customer data.

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

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