Veeva Systems Inc (VEEV) Shares Bought by Winslow Capital Management LLC

Winslow Capital Management LLC increased its stake in shares of Veeva Systems Inc (NYSE:VEEV) by 25.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,136,138 shares of the technology company’s stock after buying an additional 428,945 shares during the period. Winslow Capital Management LLC’s holdings in Veeva Systems were worth $232,561,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the stock. Morgan Stanley boosted its holdings in Veeva Systems by 4.5% in the 2nd quarter. Morgan Stanley now owns 13,129,295 shares of the technology company’s stock valued at $1,009,118,000 after purchasing an additional 565,589 shares during the period. BlackRock Inc. boosted its holdings in Veeva Systems by 18.6% in the 3rd quarter. BlackRock Inc. now owns 7,710,493 shares of the technology company’s stock valued at $839,440,000 after purchasing an additional 1,207,291 shares during the period. Federated Investors Inc. PA boosted its holdings in Veeva Systems by 4.0% in the 2nd quarter. Federated Investors Inc. PA now owns 4,022,406 shares of the technology company’s stock valued at $309,162,000 after purchasing an additional 155,953 shares during the period. FMR LLC boosted its holdings in Veeva Systems by 10.8% in the 3rd quarter. FMR LLC now owns 3,626,043 shares of the technology company’s stock valued at $394,767,000 after purchasing an additional 352,026 shares during the period. Finally, First Trust Advisors LP boosted its holdings in Veeva Systems by 24.2% in the 2nd quarter. First Trust Advisors LP now owns 2,553,247 shares of the technology company’s stock valued at $196,243,000 after purchasing an additional 497,318 shares during the period. 77.42% of the stock is owned by institutional investors and hedge funds.

Shares of Veeva Systems stock traded up $0.78 on Friday, reaching $89.89. 1,439 shares of the stock were exchanged, compared to its average volume of 1,336,001. Veeva Systems Inc has a one year low of $52.17 and a one year high of $109.05. The company has a market cap of $12.78 billion, a PE ratio of 98.18, a price-to-earnings-growth ratio of 4.20 and a beta of 1.64.

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

In other Veeva Systems news, President Matthew J. Wallach sold 12,000 shares of the company’s stock in a transaction that occurred on Thursday, November 15th. The shares were sold at an average price of $90.72, for a total value of $1,088,640.00. Following the completion of the transaction, the president now directly owns 12,000 shares in the company, valued at approximately $1,088,640. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Jonathan Faddis sold 612 shares of the company’s stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $103.52, for a total transaction of $63,354.24. Following the completion of the transaction, the senior vice president now owns 3,961 shares of the company’s stock, valued at $410,042.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 125,929 shares of company stock valued at $12,626,180. 15.97% of the stock is owned by corporate insiders.

A number of analysts have issued reports on the stock. Canaccord Genuity downgraded shares of Veeva Systems from a “buy” rating to a “hold” rating and boosted their price objective for the company from $98.00 to $105.00 in a report on Monday, October 1st. Zacks Investment Research raised shares of Veeva Systems from a “hold” rating to a “strong-buy” rating and set a $117.00 price objective for the company in a report on Wednesday, August 29th. ValuEngine raised shares of Veeva Systems from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 28th. Bank of America upped their price target on shares of Veeva Systems from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, October 5th. Finally, Needham & Company LLC upped their price target on shares of Veeva Systems from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, October 5th. Six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Veeva Systems currently has an average rating of “Buy” and an average target price of $99.07.

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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 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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