Veeva Systems Inc. (VEEV) Shares Bought by Northern Trust Corp

Northern Trust Corp lifted its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 17.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 701,393 shares of the technology company’s stock after acquiring an additional 105,992 shares during the quarter. Northern Trust Corp owned approximately 0.50% of Veeva Systems worth $43,002,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of VEEV. BlackRock Inc. boosted its stake in shares of Veeva Systems by 24,931.6% during the 1st quarter. BlackRock Inc. now owns 4,011,310 shares of the technology company’s stock worth $205,701,000 after acquiring an additional 3,995,285 shares during the period. FMR LLC boosted its stake in shares of Veeva Systems by 398.1% during the 1st quarter. FMR LLC now owns 2,290,030 shares of the technology company’s stock worth $117,433,000 after acquiring an additional 1,830,270 shares during the period. Vanguard Group Inc. boosted its stake in shares of Veeva Systems by 16.9% during the 1st quarter. Vanguard Group Inc. now owns 8,835,128 shares of the technology company’s stock worth $453,066,000 after acquiring an additional 1,276,901 shares during the period. Sumitomo Mitsui Trust Holdings Inc. bought a new position in shares of Veeva Systems during the 2nd quarter worth approximately $21,806,000. Finally, Point72 Asset Management L.P. boosted its stake in shares of Veeva Systems by 631.4% during the 1st quarter. Point72 Asset Management L.P. now owns 305,000 shares of the technology company’s stock worth $15,640,000 after acquiring an additional 263,300 shares during the period. Institutional investors own 71.46% of the company’s stock.

Several brokerages have recently commented on VEEV. Canaccord Genuity reiterated a “buy” rating and set a $70.00 target price on shares of Veeva Systems in a research note on Tuesday, August 22nd. Zacks Investment Research downgraded Veeva Systems from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 27th. KeyCorp reiterated a “buy” rating and set a $70.00 target price on shares of Veeva Systems in a research note on Friday, August 25th. Stifel Nicolaus reiterated a “buy” rating and set a $67.00 target price on shares of Veeva Systems in a research note on Monday, July 10th. Finally, BidaskClub downgraded Veeva Systems from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 13th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Veeva Systems presently has an average rating of “Buy” and a consensus price target of $65.82.

Shares of Veeva Systems Inc. (NYSE VEEV) opened at 56.70 on Wednesday. Veeva Systems Inc. has a 1-year low of $36.55 and a 1-year high of $68.07. The company has a 50-day moving average price of $57.65 and a 200 day moving average price of $58.81. The company has a market capitalization of $7.97 billion, a P/E ratio of 72.51 and a beta of 1.62.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Thursday, August 24th. The technology company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.03. Veeva Systems had a return on equity of 12.77% and a net margin of 18.98%. The business had revenue of $166.59 million during the quarter, compared to analyst estimates of $164.26 million. During the same period in the prior year, the company earned $0.15 earnings per share. Veeva Systems’s revenue was up 26.8% compared to the same quarter last year. Equities research analysts anticipate that Veeva Systems Inc. will post $0.87 EPS for the current year.

In other Veeva Systems news, CFO Timothy S. Cabral sold 40,000 shares of the stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $58.82, for a total transaction of $2,352,800.00. Following the completion of the transaction, the chief financial officer now directly owns 30,000 shares of the company’s stock, valued at $1,764,600. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Timothy S. Cabral sold 8,750 shares of the stock in a transaction on Friday, September 8th. The shares were sold at an average price of $57.24, for a total value of $500,850.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 290,340 shares of company stock valued at $17,151,474. 17.50% of the stock is owned by corporate insiders.

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Veeva Systems Company Profile

Veeva Systems Inc (Veeva) is a provider of cloud-based software solutions for the global life sciences industry. The Company offers solutions for a range of requirements within life sciences companies, including multichannel customer relationship management, regulated content and information management, master data management and customer data.

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Institutional Ownership by Quarter for Veeva Systems (NYSE:VEEV)

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