Veeva Systems Inc. (NYSE:VEEV) Shares Purchased by Amundi Asset Management US Inc.

Amundi Asset Management US Inc. boosted its stake in Veeva Systems Inc. (NYSE:VEEV) by 102.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 555,556 shares of the technology company’s stock after purchasing an additional 280,639 shares during the period. Amundi Asset Management US Inc. owned approximately 0.36% of Veeva Systems worth $145,132,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Stephens Investment Management Group LLC grew its stake in shares of Veeva Systems by 4.9% during the first quarter. Stephens Investment Management Group LLC now owns 39,811 shares of the technology company’s stock valued at $10,400,000 after acquiring an additional 1,854 shares in the last quarter. Slow Capital Inc. grew its stake in shares of Veeva Systems by 49.8% during the first quarter. Slow Capital Inc. now owns 4,378 shares of the technology company’s stock valued at $1,144,000 after acquiring an additional 1,456 shares in the last quarter. Nikko Asset Management Americas Inc. grew its stake in shares of Veeva Systems by 13.3% during the first quarter. Nikko Asset Management Americas Inc. now owns 72,262 shares of the technology company’s stock valued at $18,878,000 after acquiring an additional 8,496 shares in the last quarter. DnB Asset Management AS grew its stake in shares of Veeva Systems by 6.6% during the first quarter. DnB Asset Management AS now owns 18,338 shares of the technology company’s stock valued at $4,791,000 after acquiring an additional 1,141 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Veeva Systems by 2.1% during the fourth quarter. Principal Financial Group Inc. now owns 19,030 shares of the technology company’s stock valued at $5,182,000 after acquiring an additional 398 shares in the last quarter. Hedge funds and other institutional investors own 77.13% of the company’s stock.

VEEV opened at $323.87 on Thursday. Veeva Systems Inc. has a twelve month low of $235.74 and a twelve month high of $329.07. The company has a market capitalization of $49.53 billion, a PE ratio of 145.27, a PEG ratio of 8.31 and a beta of 0.74. The company’s 50 day simple moving average is $296.79.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings data on Wednesday, May 26th. The technology company reported $0.91 EPS for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.13. Veeva Systems had a net margin of 26.19% and a return on equity of 16.40%. The business had revenue of $433.57 million for the quarter, compared to analyst estimates of $410.07 million. During the same quarter last year, the business earned $0.66 earnings per share. The business’s revenue for the quarter was up 28.6% on a year-over-year basis. As a group, analysts forecast that Veeva Systems Inc. will post 2.46 earnings per share for the current year.

VEEV has been the topic of several research analyst reports. UBS Group raised shares of Veeva Systems from a “sell” rating to a “neutral” rating and increased their price target for the stock from $245.00 to $250.00 in a research report on Wednesday, March 31st. Royal Bank of Canada initiated coverage on shares of Veeva Systems in a research report on Wednesday. They set an “outperform” rating and a $400.00 price target on the stock. Cowen initiated coverage on shares of Veeva Systems in a research report on Wednesday. They set an “outperform” rating and a $400.00 price target on the stock. Morgan Stanley increased their price target on shares of Veeva Systems from $340.00 to $350.00 and gave the stock an “overweight” rating in a research report on Friday, May 28th. Finally, Zacks Investment Research cut shares of Veeva Systems from a “buy” rating to a “hold” rating and set a $277.00 price target on the stock. in a research report on Thursday, May 20th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have issued a buy rating to the stock. Veeva Systems currently has an average rating of “Buy” and a consensus price target of $325.39.

In related news, SVP Jonathan Faddis sold 959 shares of the firm’s stock in a transaction that occurred on Thursday, June 3rd. The shares were sold at an average price of $285.29, for a total transaction of $273,593.11. Following the transaction, the senior vice president now owns 4,476 shares in the company, valued at $1,276,958.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Matthew J. Wallach sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 15th. The shares were sold at an average price of $312.52, for a total transaction of $1,562,600.00. Following the transaction, the director now owns 1,742 shares in the company, valued at approximately $544,409.84. The disclosure for this sale can be found here. Insiders have sold 18,425 shares of company stock worth $5,469,494 in the last quarter. Company insiders own 13.18% of the company’s stock.

Veeva Systems Profile

Veeva Systems Inc provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, the Middle East, Africa, and Latin America. The company offers Veeva Commercial Cloud, a suite of software, data, and analytics solutions, which include Veeva customer relationship management (CRM) and Veeva Medical CRM, Veeva CLM, Veeva CRM Approved Email, Veeva CRM Engage, Veeva Align, Veeva CRM Events Management, Veeva Nitro, Veeva Andi, Veeva OpenData, Veeva Link, Veeva Network Customer Master, Veeva Crossix, Veeva Data Cloud, and MyVeeva for Doctors; and Veeva Vault, a cloud-based enterprise content and data management applications for managing commercial functions, including sales and marketing, and medical content and communications, 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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