Deutsche Bank AG Sells 22,936 Shares of Veeva Systems Inc. (NYSE:VEEV)

Deutsche Bank AG lessened its position in Veeva Systems Inc. (NYSE:VEEV) by 7.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 278,075 shares of the technology company’s stock after selling 22,936 shares during the period. Deutsche Bank AG owned about 0.18% of Veeva Systems worth $86,468,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its stake in shares of Veeva Systems by 6.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,358,412 shares of the technology company’s stock worth $2,706,032,000 after buying an additional 612,811 shares in the last quarter. Artisan Partners Limited Partnership lifted its stake in shares of Veeva Systems by 7.2% in the first quarter. Artisan Partners Limited Partnership now owns 6,344,787 shares of the technology company’s stock worth $1,657,512,000 after buying an additional 424,658 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Veeva Systems by 4.8% during the first quarter. Franklin Resources Inc. now owns 3,067,016 shares of the technology company’s stock valued at $801,227,000 after purchasing an additional 139,672 shares during the last quarter. Brown Advisory Inc. raised its holdings in shares of Veeva Systems by 2,512.4% during the first quarter. Brown Advisory Inc. now owns 1,742,239 shares of the technology company’s stock valued at $455,143,000 after purchasing an additional 1,675,548 shares during the last quarter. Finally, Fred Alger Management LLC raised its holdings in shares of Veeva Systems by 22.3% during the first quarter. Fred Alger Management LLC now owns 1,652,138 shares of the technology company’s stock valued at $431,605,000 after purchasing an additional 300,763 shares during the last quarter. Hedge funds and other institutional investors own 77.78% of the company’s stock.

Several research firms have recently weighed in on VEEV. Robert W. Baird boosted their price objective on shares of Veeva Systems from $340.00 to $349.00 and gave the company an “outperform” rating in a report on Thursday, September 2nd. UBS Group upped their target price on shares of Veeva Systems from $270.00 to $320.00 and gave the company a “neutral” rating in a report on Thursday, September 2nd. Cowen initiated coverage on shares of Veeva Systems in a research note on Wednesday, July 21st. They issued an “outperform” rating and a $400.00 price objective for the company. increased their price objective on shares of Veeva Systems from $335.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, May 28th. Finally, Royal Bank of Canada initiated coverage on shares of Veeva Systems in a research note on Wednesday, July 21st. They issued an “outperform” rating and a $400.00 price objective for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $344.11.

In other news, SVP Jonathan Faddis sold 1,666 shares of the stock in a transaction on Tuesday, September 7th. The shares were sold at an average price of $316.46, for a total value of $527,222.36. Following the sale, the senior vice president now owns 6,017 shares of the company’s stock, valued at $1,904,139.82. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Alan Mateo sold 2,347 shares of the stock in a transaction on Friday, September 10th. The shares were sold at an average price of $306.50, for a total transaction of $719,355.50. Following the completion of the sale, the executive vice president now directly owns 5,476 shares in the company, valued at approximately $1,678,394. The disclosure for this sale can be found here. Insiders have sold 21,595 shares of company stock valued at $6,817,137 in the last quarter. 13.18% of the stock is owned by company insiders.

VEEV stock opened at $299.93 on Friday. Veeva Systems Inc. has a 52 week low of $235.74 and a 52 week high of $343.96. The company has a fifty day simple moving average of $319.49 and a two-hundred day simple moving average of $293.62. The firm has a market capitalization of $46.01 billion, a P/E ratio of 114.48, a price-to-earnings-growth ratio of 6.74 and a beta of 0.73.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Tuesday, August 31st. The technology company reported $0.94 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.07. Veeva Systems had a net margin of 25.51% and a return on equity of 16.35%. The business had revenue of $455.59 million during the quarter, compared to analyst estimates of $450.93 million. During the same quarter last year, the business earned $0.72 earnings per share. Veeva Systems’s quarterly revenue was up 28.8% compared to the same quarter last year. Research analysts anticipate that Veeva Systems Inc. will post 2.47 EPS for the current fiscal year.

Veeva Systems Company Profile

Veeva Systems, Inc engages in the provision of industry cloud solutions for the global life sciences industry. Its solutions enable pharmaceutical and other life sciences companies to realize the benefits of modern cloud-based architectures and mobile applications for their most critical business functions, without compromising industry-specific functionality or regulatory compliance.

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Institutional Ownership by Quarter for Veeva Systems (NYSE:VEEV)

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