Korea Investment CORP Has $14.07 Million Stake in Veeva Systems Inc (VEEV)

Korea Investment CORP lifted its position in Veeva Systems Inc (NYSE:VEEV) by 140.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 129,198 shares of the technology company’s stock after purchasing an additional 75,498 shares during the quarter. Korea Investment CORP owned 0.09% of Veeva Systems worth $14,066,000 at the end of the most recent reporting period.

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

VEEV has been the topic of several research reports. Guggenheim initiated coverage on shares of Veeva Systems in a research report on Tuesday, August 7th. They set a “buy” rating and a $100.00 price target on the stock. Morgan Stanley upped their price target on shares of Veeva Systems from $85.00 to $91.00 and gave the stock an “overweight” rating in a research report on Thursday, August 16th. KeyCorp restated a “buy” rating on shares of Veeva Systems in a research report on Thursday, August 23rd. JPMorgan Chase & Co. upped their target price on shares of Veeva Systems from $81.00 to $95.00 and gave the company a “neutral” rating in a research report on Friday, August 24th. Finally, JMP Securities upped their target price on shares of Veeva Systems from $80.00 to $95.00 and gave the company a “market perform” rating in a research report on Friday, August 24th. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $101.80.

Veeva Systems stock opened at $96.16 on Friday. Veeva Systems Inc has a 1 year low of $52.17 and a 1 year high of $109.05. The stock has a market cap of $14.16 billion, a price-to-earnings ratio of 97.71, a price-to-earnings-growth ratio of 4.65 and a beta of 1.64.

Veeva Systems (NYSE:VEEV) last released its earnings results on Wednesday, November 28th. The technology company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.05. The company had revenue of $224.70 million for the quarter, compared to the consensus estimate of $216.04 million. Veeva Systems had a net margin of 23.61% and a return on equity of 16.20%. The company’s revenue was up 26.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.25 EPS. Equities research analysts anticipate that Veeva Systems Inc will post 1.1 earnings per share for the current year.

In related news, EVP Alan Mateo sold 555 shares of the stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $103.52, for a total value of $57,453.60. Following the sale, the executive vice president now directly owns 13,147 shares in the company, valued at approximately $1,360,977.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Timothy S. Cabral sold 50,000 shares of the stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $101.49, for a total transaction of $5,074,500.00. Following the completion of the sale, the chief financial officer now owns 30,000 shares in the company, valued at $3,044,700. The disclosure for this sale can be found here. Insiders sold a total of 122,929 shares of company stock worth $12,321,740 over the last quarter. 15.97% of the stock is currently owned by corporate insiders.

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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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