Ninety One North America Inc. Buys Shares of 20,726 Veeva Systems Inc. (NYSE:VEEV)

Ninety One North America Inc. bought a new stake in Veeva Systems Inc. (NYSE:VEEV) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 20,726 shares of the technology company’s stock, valued at approximately $3,990,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC boosted its position in shares of Veeva Systems by 703.8% during the fourth quarter. Sequoia Financial Advisors LLC now owns 15,594 shares of the technology company’s stock worth $3,002,000 after buying an additional 13,654 shares during the period. Nordea Investment Management AB boosted its position in shares of Veeva Systems by 5.2% during the fourth quarter. Nordea Investment Management AB now owns 163,247 shares of the technology company’s stock worth $31,730,000 after buying an additional 8,007 shares during the period. ICICI Prudential Asset Management Co Ltd boosted its position in shares of Veeva Systems by 13.1% during the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 49,140 shares of the technology company’s stock worth $9,460,000 after buying an additional 5,674 shares during the period. Lecap Asset Management Ltd. acquired a new position in shares of Veeva Systems during the fourth quarter worth about $2,668,000. Finally, DekaBank Deutsche Girozentrale boosted its position in shares of Veeva Systems by 26.3% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 98,377 shares of the technology company’s stock worth $18,953,000 after buying an additional 20,488 shares during the period. 88.20% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Veeva Systems

In other news, SVP Jonathan Faddis sold 3,598 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was 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 in the company, valued at $2,212,756.56. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Veeva Systems news, Director Timothy S. Cabral sold 15,000 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $226.04, for a total transaction of $3,390,600.00. Following the transaction, the director now owns 23,391 shares in the company, valued at approximately $5,287,301.64. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Jonathan Faddis sold 3,598 shares of the firm’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $207.42, for a total value of $746,297.16. Following the transaction, the senior vice president now owns 10,668 shares in the company, valued at approximately $2,212,756.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,836 shares of company stock worth $4,396,902. Company insiders own 10.98% of the company’s stock.

Veeva Systems Trading Up 0.9 %

NYSE:VEEV traded up $1.71 on Thursday, hitting $200.91. The company’s stock had a trading volume of 372,640 shares, compared to its average volume of 981,638. The stock has a fifty day moving average of $221.86 and a two-hundred day moving average of $202.84. The firm has a market capitalization of $32.41 billion, a P/E ratio of 61.86, a price-to-earnings-growth ratio of 2.02 and a beta of 0.74. Veeva Systems Inc. has a one year low of $160.21 and a one year high of $236.90.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Thursday, February 29th. The technology company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.11. The firm had revenue of $630.62 million for the quarter, compared to analyst estimates of $620.75 million. Veeva Systems had a return on equity of 11.26% and a net margin of 22.24%. As a group, sell-side analysts anticipate that Veeva Systems Inc. will post 4.11 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on VEEV shares. Robert W. Baird upped their price objective on Veeva Systems from $245.00 to $251.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. StockNews.com raised Veeva Systems from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. Jefferies Financial Group increased their price target on Veeva Systems from $225.00 to $270.00 and gave the company a “buy” rating in a research report on Monday, March 4th. Raymond James reissued an “outperform” rating and set a $260.00 price target on shares of Veeva Systems in a research report on Tuesday, March 26th. Finally, Citigroup increased their price target on Veeva Systems from $240.00 to $264.00 and gave the company a “buy” rating in a research report on Friday, March 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Veeva Systems currently has a consensus rating of “Moderate Buy” and a consensus target price 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.