Stevens Capital Management LP bought a new position in shares of Veeva Systems Inc (NYSE:VEEV) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 28,305 shares of the technology company’s stock, valued at approximately $4,589,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Tocqueville Asset Management L.P. grew its holdings in shares of Veeva Systems by 14.1% in the 2nd quarter. Tocqueville Asset Management L.P. now owns 10,759 shares of the technology company’s stock valued at $1,744,000 after buying an additional 1,330 shares during the period. New England Investment & Retirement Group Inc. acquired a new position in shares of Veeva Systems in the 2nd quarter valued at $626,000. Cookson Peirce & Co. Inc. grew its holdings in shares of Veeva Systems by 34.3% in the 2nd quarter. Cookson Peirce & Co. Inc. now owns 30,130 shares of the technology company’s stock valued at $4,884,000 after buying an additional 7,702 shares during the period. Royal London Asset Management Ltd. grew its holdings in shares of Veeva Systems by 2.9% in the 2nd quarter. Royal London Asset Management Ltd. now owns 46,882 shares of the technology company’s stock valued at $7,598,000 after buying an additional 1,331 shares during the period. Finally, Aperio Group LLC grew its holdings in shares of Veeva Systems by 18.2% in the 2nd quarter. Aperio Group LLC now owns 31,763 shares of the technology company’s stock valued at $5,150,000 after buying an additional 4,900 shares during the period. 77.50% of the stock is owned by hedge funds and other institutional investors.

NYSE VEEV traded down $6.48 on Wednesday, reaching $155.86. The company had a trading volume of 26,409 shares, compared to its average volume of 1,358,932. The firm has a market cap of $23.79 billion, a price-to-earnings ratio of 126.83, a price-to-earnings-growth ratio of 8.19 and a beta of 1.39. The company has a quick ratio of 3.73, a current ratio of 3.73 and a debt-to-equity ratio of 0.01. Veeva Systems Inc has a 1-year low of $79.26 and a 1-year high of $176.90. The stock’s fifty day moving average price is $166.46.

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

In other Veeva Systems news, SVP Jonathan Faddis sold 450 shares of the business’s 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 sale, the senior vice president now directly owns 2,323 shares of the company’s stock, valued at approximately $349,216.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Alan Mateo sold 4,539 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $154.35, for a total transaction of $700,594.65. Following the sale, the executive vice president now directly owns 22,174 shares in the company, valued at $3,422,556.90. The disclosure for this sale can be found here. Insiders have sold a total of 78,839 shares of company stock worth $12,607,413 over the last three months. Insiders own 14.38% of the company’s stock.

Several equities analysts have recently issued reports on the stock. Bank of America boosted their price target on shares of Veeva Systems from $160.00 to $192.00 and gave the company a “buy” rating in a report on Monday, June 10th. Canaccord Genuity boosted their price target on shares of Veeva Systems from $115.00 to $135.00 and gave the company a “hold” rating in a report on Thursday, May 30th. Morgan Stanley lowered shares of Veeva Systems from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $126.00 to $144.00 in a report on Friday, May 24th. Barclays upped their target price on shares of Veeva Systems from $144.00 to $151.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 30th. Finally, JMP Securities upped their target price on shares of Veeva Systems from $122.00 to $153.00 and gave the stock a “market outperform” rating in a research note on Thursday, May 30th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $149.94.

Veeva Systems Company 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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