Private Advisor Group LLC boosted its stake in shares of Veeva Systems Inc (NYSE:VEEV) by 174.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,799 shares of the technology company’s stock after acquiring an additional 9,400 shares during the period. Private Advisor Group LLC’s holdings in Veeva Systems were worth $1,878,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Lyell Wealth Management LP grew its stake in shares of Veeva Systems by 4.1% in the 1st quarter. Lyell Wealth Management LP now owns 44,550 shares of the technology company’s stock worth $5,652,000 after buying an additional 1,753 shares in the last quarter. Metropolitan Life Insurance Co. NY grew its stake in shares of Veeva Systems by 0.9% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 9,355 shares of the technology company’s stock worth $836,000 after buying an additional 83 shares in the last quarter. QS Investors LLC grew its stake in shares of Veeva Systems by 235.7% in the 4th quarter. QS Investors LLC now owns 44,243 shares of the technology company’s stock worth $3,952,000 after buying an additional 31,062 shares in the last quarter. Toronto Dominion Bank grew its stake in shares of Veeva Systems by 24.1% in the 4th quarter. Toronto Dominion Bank now owns 16,282 shares of the technology company’s stock worth $1,454,000 after buying an additional 3,164 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System grew its stake in shares of Veeva Systems by 4.0% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 167,914 shares of the technology company’s stock worth $21,302,000 after buying an additional 6,509 shares in the last quarter. 78.11% of the stock is owned by institutional investors.

In related news, SVP Jonathan Faddis sold 450 shares of Veeva Systems stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $150.33, for a total transaction of $67,648.50. Following the completion of the sale, the senior vice president now owns 2,323 shares in the company, valued at approximately $349,216.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Matthew J. Wallach sold 12,000 shares of Veeva Systems stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $135.62, for a total transaction of $1,627,440.00. Following the sale, the president now owns 12,000 shares of the company’s stock, valued at approximately $1,627,440. The disclosure for this sale can be found here. Insiders have sold a total of 101,798 shares of company stock valued at $15,072,260 in the last quarter. 14.38% of the stock is currently owned by company insiders.

A number of equities analysts have commented on the stock. Needham & Company LLC reissued a “buy” rating and issued a $150.00 price objective (up from $135.00) on shares of Veeva Systems in a research note on Wednesday, April 17th. SunTrust Banks lifted their price target on shares of Veeva Systems to $150.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Bank of America lifted their price target on shares of Veeva Systems from $140.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Stephens raised shares of Veeva Systems from an “equal” rating to an “overweight” rating and lifted their price target for the stock from $130.00 to $155.00 in a research note on Thursday, May 30th. Finally, KeyCorp lifted their price target on shares of Veeva Systems from $133.00 to $172.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Seven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Veeva Systems has an average rating of “Buy” and a consensus price target of $147.00.

Shares of VEEV stock traded up $1.32 during trading hours on Wednesday, reaching $165.76. 12,861 shares of the stock were exchanged, compared to its average volume of 1,348,116. Veeva Systems Inc has a 12-month low of $73.47 and a 12-month high of $166.93. The company has a current ratio of 3.73, a quick ratio of 3.73 and a debt-to-equity ratio of 0.01. The stock has a market cap of $23.75 billion, a PE ratio of 133.30, a P/E/G ratio of 6.64 and a beta of 1.50.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings results on Wednesday, May 29th. The technology company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.08). Veeva Systems had a return on equity of 17.61% and a net margin of 28.41%. The firm had revenue of $244.75 million for the quarter, compared to analysts’ expectations of $238.69 million. During the same period in the prior year, the firm posted $0.33 earnings per share. Veeva Systems’s revenue for the quarter was up 25.2% on a year-over-year basis. Sell-side analysts forecast that Veeva Systems Inc will post 1.6 EPS for the current year.

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Veeva Systems Profile

Veeva Systems Inc provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, and internationally. The company offers Veeva Commercial Cloud, a suite of multichannel customer relationship management applications, data solutions, and master data management solutions; and Veeva Vault, a cloud-based enterprise content and data management applications for managing commercial functions, including medical, sales, and marketing, 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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