Wasatch Advisors Inc. acquired a new stake in shares of Veeva Systems Inc (NYSE:VEEV) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 34,615 shares of the technology company’s stock, valued at approximately $1,914,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. QS Investors LLC grew its stake in shares of Veeva Systems by 0.5% during the 2nd quarter. QS Investors LLC now owns 3,832 shares of the technology company’s stock valued at $235,000 after buying an additional 19 shares during the period. Comerica Bank grew its stake in shares of Veeva Systems by 14.0% during the 2nd quarter. Comerica Bank now owns 4,339 shares of the technology company’s stock valued at $285,000 after buying an additional 534 shares during the period. Great West Life Assurance Co. Can grew its stake in shares of Veeva Systems by 2.6% during the 3rd quarter. Great West Life Assurance Co. Can now owns 34,106 shares of the technology company’s stock valued at $1,922,000 after buying an additional 865 shares during the period. Flagship Harbor Advisors LLC grew its stake in shares of Veeva Systems by 26.8% during the 3rd quarter. Flagship Harbor Advisors LLC now owns 4,226 shares of the technology company’s stock valued at $248,000 after buying an additional 893 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Veeva Systems by 21.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,131 shares of the technology company’s stock valued at $315,000 after buying an additional 914 shares during the period. 70.98% of the stock is owned by institutional investors.

In other Veeva Systems news, EVP Alan Mateo sold 532 shares of the business’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $58.11, for a total value of $30,914.52. Following the transaction, the executive vice president now owns 8,294 shares in the company, valued at approximately $481,964.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Frederic Lequient sold 2,875 shares of the business’s stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $57.32, for a total transaction of $164,795.00. Following the completion of the transaction, the senior vice president now owns 3,399 shares in the company, valued at approximately $194,830.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 170,617 shares of company stock valued at $9,827,783. 19.17% of the stock is owned by corporate insiders.

Shares of Veeva Systems Inc (VEEV) opened at $58.53 on Friday. Veeva Systems Inc has a 12-month low of $41.30 and a 12-month high of $68.07. The firm has a market cap of $8,131.46, a price-to-earnings ratio of 97.51, a P/E/G ratio of 4.67 and a beta of 1.60.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings results on Tuesday, December 5th. The technology company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.09. Veeva Systems had a net margin of 19.97% and a return on equity of 12.21%. The firm had revenue of $176.10 million during the quarter, compared to analysts’ expectations of $171.99 million. During the same period in the prior year, the company earned $0.22 EPS. The firm’s revenue was up 23.3% on a year-over-year basis. analysts predict that Veeva Systems Inc will post 0.68 EPS for the current year.

Several analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Veeva Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, October 24th. Needham & Company LLC reissued a “buy” rating on shares of Veeva Systems in a research note on Thursday, October 12th. Stifel Nicolaus reissued a “buy” rating and set a $67.00 price objective on shares of Veeva Systems in a research note on Friday, October 13th. Canaccord Genuity reissued a “buy” rating and set a $70.00 price objective on shares of Veeva Systems in a research note on Wednesday, December 6th. Finally, BidaskClub raised shares of Veeva Systems from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 20th. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $67.45.

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About Veeva Systems

Veeva Systems Inc (Veeva) is a provider of cloud-based software solutions for the global life sciences industry. The Company offers solutions for a range of requirements within life sciences companies, including multichannel customer relationship management, regulated content and information management, master data management and customer data.

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

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