Aperio Group LLC Purchases 3,979 Shares of Veeva Systems Inc (VEEV)

Aperio Group LLC raised its position in shares of Veeva Systems Inc (NYSE:VEEV) by 25.5% in the third quarter, HoldingsChannel reports. The firm owned 19,592 shares of the technology company’s stock after buying an additional 3,979 shares during the period. Aperio Group LLC’s holdings in Veeva Systems were worth $2,133,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of VEEV. DnB Asset Management AS purchased a new stake in shares of Veeva Systems during the 2nd quarter worth about $830,000. IFM Investors Pty Ltd bought a new position in shares of Veeva Systems in the 2nd quarter valued at approximately $370,000. State of Alaska Department of Revenue raised its stake in shares of Veeva Systems by 43.1% in the 2nd quarter. State of Alaska Department of Revenue now owns 14,580 shares of the technology company’s stock valued at $1,120,000 after acquiring an additional 4,390 shares in the last quarter. Xact Kapitalforvaltning AB raised its stake in shares of Veeva Systems by 7.9% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 21,735 shares of the technology company’s stock valued at $1,671,000 after acquiring an additional 1,600 shares in the last quarter. Finally, First Citizens Bank & Trust Co. bought a new position in shares of Veeva Systems in the 2nd quarter valued at approximately $735,000. 75.37% of the stock is owned by institutional investors.

In other Veeva Systems news, President Matthew J. Wallach sold 12,000 shares of Veeva Systems stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $84.57, for a total value of $1,014,840.00. Following the transaction, the president now directly owns 12,000 shares of the company’s stock, valued at approximately $1,014,840. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Alan Mateo sold 46,547 shares of Veeva Systems stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $85.42, for a total value of $3,976,044.74. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 172,476 shares of company stock worth $16,528,424. Company insiders own 15.97% of the company’s stock.

A number of research analysts recently weighed in on VEEV shares. Zacks Investment Research raised Veeva Systems from a “hold” rating to a “buy” rating and set a $92.00 price objective on the stock in a research note on Tuesday, July 17th. Guggenheim started coverage on Veeva Systems in a research note on Tuesday, August 7th. They issued a “buy” rating and a $100.00 price objective on the stock. Morgan Stanley raised their price objective on Veeva Systems from $85.00 to $91.00 and gave the company an “overweight” rating in a research note on Thursday, August 16th. KeyCorp reissued a “buy” rating on shares of Veeva Systems in a research note on Thursday, August 23rd. Finally, JPMorgan Chase & Co. raised their price objective on Veeva Systems from $81.00 to $95.00 and gave the company a “neutral” rating in a research note on Friday, August 24th. Six equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $99.07.

Shares of NYSE VEEV opened at $96.63 on Friday. The company has a market capitalization of $13.20 billion, a price-to-earnings ratio of 105.03, a price-to-earnings-growth ratio of 4.33 and a beta of 1.64. Veeva Systems Inc has a 12 month low of $52.17 and a 12 month high of $109.05.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings results on Thursday, August 23rd. The technology company reported $0.39 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.05. The company had revenue of $209.60 million for the quarter, compared to the consensus estimate of $203.50 million. Veeva Systems had a return on equity of 13.58% and a net margin of 21.23%. The company’s revenue for the quarter was up 24.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.23 EPS. On average, equities analysts anticipate that Veeva Systems Inc will post 1.1 earnings per share for the current year.

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About Veeva Systems

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 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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