Veeva Systems Inc (VEEV) Shares Bought by Toronto Dominion Bank

Toronto Dominion Bank grew its stake in Veeva Systems Inc (NYSE:VEEV) by 12.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,118 shares of the technology company’s stock after purchasing an additional 1,454 shares during the period. Toronto Dominion Bank’s holdings in Veeva Systems were worth $1,428,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of VEEV. Winslow Capital Management LLC acquired a new stake in Veeva Systems in the 2nd quarter worth $131,215,000. FMR LLC grew its position in Veeva Systems by 38.7% in the 2nd quarter. FMR LLC now owns 3,274,017 shares of the technology company’s stock worth $251,641,000 after purchasing an additional 914,357 shares during the last quarter. Morgan Stanley grew its position in Veeva Systems by 4.5% in the 2nd quarter. Morgan Stanley now owns 13,129,295 shares of the technology company’s stock worth $1,009,118,000 after purchasing an additional 565,589 shares during the last quarter. First Trust Advisors LP grew its position 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 worth $196,243,000 after purchasing an additional 497,318 shares during the last quarter. Finally, United Services Automobile Association grew its position in Veeva Systems by 2,735.0% in the 2nd quarter. United Services Automobile Association now owns 509,924 shares of the technology company’s stock worth $43,808,000 after purchasing an additional 491,937 shares during the last quarter. Institutional investors own 77.42% of the company’s stock.

Shares of VEEV stock opened at $88.87 on Monday. Veeva Systems Inc has a 12-month low of $52.17 and a 12-month high of $109.05. The stock has a market cap of $12.75 billion, a P/E ratio of 96.60, a PEG ratio of 4.18 and a beta of 1.64.

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

Several research firms have issued reports on VEEV. ValuEngine lowered shares of Veeva Systems from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 1st. Canaccord Genuity raised their price target on shares of Veeva Systems from $85.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday, August 24th. They noted that the move was a valuation call. DA Davidson raised their price target on shares of Veeva Systems to $105.00 and gave the stock a “buy” rating in a research report on Friday, August 24th. KeyCorp restated a “buy” rating on shares of Veeva Systems in a research report on Thursday, August 23rd. Finally, Stifel Nicolaus raised their price objective on shares of Veeva Systems from $95.00 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 assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $99.07.

In related news, insider Eleni Nitsa Zuppas sold 1,253 shares of Veeva Systems stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $103.52, for a total transaction of $129,710.56. Following the completion of the transaction, the insider now directly owns 10,151 shares of the company’s stock, valued at approximately $1,050,831.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alan Mateo sold 555 shares of Veeva Systems stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $103.52, for a total transaction of $57,453.60. Following the transaction, the executive vice president now directly owns 13,147 shares of the company’s stock, valued at $1,360,977.44. The disclosure for this sale can be found here. Insiders have sold a total of 122,929 shares of company stock valued at $12,321,740 over the last three months. 15.97% of the stock is currently owned by insiders.

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Veeva Systems Company 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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