Seeyond lessened its stake in shares of Veeva Systems Inc (NYSE:VEEV) by 20.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,591 shares of the technology company’s stock after selling 1,423 shares during the quarter. Seeyond’s holdings in Veeva Systems were worth $906,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the business. BlackRock Inc. lifted its stake in shares of Veeva Systems by 7.8% in the first quarter. BlackRock Inc. now owns 7,538,880 shares of the technology company’s stock worth $956,382,000 after acquiring an additional 547,246 shares in the last quarter. FMR LLC lifted its stake in shares of Veeva Systems by 5.8% in the first quarter. FMR LLC now owns 6,269,463 shares of the technology company’s stock worth $795,344,000 after acquiring an additional 342,948 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Veeva Systems by 15.2% in the second quarter. JPMorgan Chase & Co. now owns 3,704,172 shares of the technology company’s stock worth $594,557,000 after acquiring an additional 488,681 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Veeva Systems by 15.9% in the fourth quarter. Geode Capital Management LLC now owns 1,307,248 shares of the technology company’s stock worth $116,693,000 after acquiring an additional 179,262 shares in the last quarter. Finally, Champlain Investment Partners LLC lifted its stake in shares of Veeva Systems by 2.4% in the first quarter. Champlain Investment Partners LLC now owns 1,187,335 shares of the technology company’s stock worth $150,625,000 after acquiring an additional 28,335 shares in the last quarter. Institutional investors own 77.17% of the company’s stock.

VEEV stock traded down $2.11 on Friday, reaching $140.79. The company’s stock had a trading volume of 813,460 shares, compared to its average volume of 1,618,659. Veeva Systems Inc has a 52 week low of $79.26 and a 52 week high of $176.90. The company has a market capitalization of $21.37 billion, a P/E ratio of 113.54, a price-to-earnings-growth ratio of 4.70 and a beta of 1.32. The firm has a fifty day moving average of $160.61 and a two-hundred day moving average of $147.77. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.23 and a quick ratio of 4.23.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Tuesday, August 27th. The technology company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.03. The business had revenue of $266.90 million during the quarter, compared to analyst estimates of $259.35 million. Veeva Systems had a return on equity of 18.10% and a net margin of 29.72%. The business’s revenue for the quarter was up 27.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.39 EPS. As a group, equities analysts expect that Veeva Systems Inc will post 1.62 EPS for the current fiscal year.

In related news, CMO Eleni Nitsa Zuppas sold 3,000 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $142.00, for a total value of $426,000.00. Following the completion of the sale, the chief marketing officer now owns 13,821 shares in the company, valued at $1,962,582. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Timothy S. Cabral sold 586 shares of the stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $163.47, for a total transaction of $95,793.42. Following the completion of the sale, the chief financial officer now owns 1,175 shares of the company’s stock, valued at approximately $192,077.25. The disclosure for this sale can be found here. Insiders have sold 70,791 shares of company stock valued at $11,427,094 over the last 90 days. Corporate insiders own 14.38% of the company’s stock.

Several analysts recently weighed in on the company. Barclays boosted their price objective on Veeva Systems from $151.00 to $165.00 and gave the company an “equal weight” rating in a report on Wednesday, August 28th. Morgan Stanley lowered Veeva Systems from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $126.00 to $144.00 in a report on Friday, May 24th. Guggenheim boosted their price objective on Veeva Systems from $154.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. ValuEngine lowered Veeva Systems from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. Finally, DA Davidson boosted their price objective on Veeva Systems from $165.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $167.06.

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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