Rakuten Securities Inc. Buys New Shares in Veeva Systems Inc. (NYSE:VEEV)

Rakuten Securities Inc. purchased a new position in shares of Veeva Systems Inc. (NYSE:VEEV) during the 4th quarter, HoldingsChannel reports. The firm purchased 327 shares of the technology company’s stock, valued at approximately $63,000.

Other hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Veeva Systems during the fourth quarter worth about $259,703,000. Wellington Management Group LLP grew its holdings in Veeva Systems by 1,578.4% during the 1st quarter. Wellington Management Group LLP now owns 1,504,355 shares of the technology company’s stock worth $319,616,000 after acquiring an additional 1,414,726 shares in the last quarter. Invesco Ltd. increased its position in shares of Veeva Systems by 239.7% in the 3rd quarter. Invesco Ltd. now owns 956,355 shares of the technology company’s stock valued at $194,570,000 after purchasing an additional 674,785 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Veeva Systems by 34.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,045,414 shares of the technology company’s stock valued at $416,139,000 after purchasing an additional 522,257 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its position in shares of Veeva Systems by 25.0% during the 2nd quarter. Nuveen Asset Management LLC now owns 2,432,413 shares of the technology company’s stock worth $480,961,000 after purchasing an additional 486,588 shares during the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Insider Buying and Selling

In other Veeva Systems news, Director Timothy S. Cabral sold 15,000 shares of Veeva Systems stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $226.04, for a total value of $3,390,600.00. Following the completion of the sale, the director now owns 23,391 shares in the company, valued at approximately $5,287,301.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Veeva Systems news, COO Thomas D. Schwenger sold 1,238 shares of the business’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $210.02, for a total transaction of $260,004.76. Following the completion of the sale, the chief operating officer now owns 24,342 shares of the company’s stock, valued at $5,112,306.84. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Timothy S. Cabral sold 15,000 shares of Veeva Systems stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $226.04, for a total value of $3,390,600.00. Following the completion of the transaction, the director now directly owns 23,391 shares in the company, valued at $5,287,301.64. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,836 shares of company stock worth $4,396,902. 10.98% of the stock is owned by company insiders.

Veeva Systems Price Performance

Shares of Veeva Systems stock opened at $199.18 on Thursday. Veeva Systems Inc. has a 1 year low of $160.21 and a 1 year high of $236.90. The business has a 50 day moving average price of $221.86 and a 200 day moving average price of $202.84. The company has a market capitalization of $32.13 billion, a P/E ratio of 61.86, a P/E/G ratio of 2.02 and a beta of 0.74.

Veeva Systems (NYSE:VEEV) last announced its earnings results on Thursday, February 29th. The technology company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.11. Veeva Systems had a net margin of 22.24% and a return on equity of 11.26%. The firm had revenue of $630.62 million for the quarter, compared to analyst estimates of $620.75 million. As a group, research analysts expect that Veeva Systems Inc. will post 4.11 EPS for the current fiscal year.

Analyst Ratings Changes

VEEV has been the subject of a number of recent analyst reports. UBS Group lifted their price target on Veeva Systems from $185.00 to $235.00 and gave the stock a “neutral” rating in a report on Monday, February 26th. StockNews.com upgraded Veeva Systems from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. JPMorgan Chase & Co. increased their price target on shares of Veeva Systems from $183.00 to $222.00 and gave the company a “neutral” rating in a research note on Wednesday, March 13th. Stifel Nicolaus boosted their price objective on shares of Veeva Systems from $205.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Finally, Jefferies Financial Group upped their target price on shares of Veeva Systems from $225.00 to $270.00 and gave the company a “buy” rating in a report on Monday, March 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average 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.