Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Veeva Systems Inc (NYSE:VEEV) by 10.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 357,679 shares of the technology company’s stock after purchasing an additional 33,713 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.25% of Veeva Systems worth $27,491,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the stock. We Are One Seven LLC raised its position in shares of Veeva Systems by 147.6% in the 1st quarter. We Are One Seven LLC now owns 1,679 shares of the technology company’s stock worth $123,000 after acquiring an additional 1,001 shares in the last quarter. Next Century Growth Investors LLC bought a new position in shares of Veeva Systems in the 1st quarter worth about $130,000. Cerebellum GP LLC raised its position in shares of Veeva Systems by 1,645.0% in the 2nd quarter. Cerebellum GP LLC now owns 2,251 shares of the technology company’s stock worth $173,000 after acquiring an additional 2,122 shares in the last quarter. Diversified Trust Co bought a new position in shares of Veeva Systems in the 1st quarter worth about $200,000. Finally, Synovus Financial Corp bought a new position in shares of Veeva Systems in the 1st quarter worth about $201,000. 73.52% of the stock is owned by institutional investors and hedge funds.

In other Veeva Systems news, President Matthew J. Wallach sold 12,000 shares of Veeva Systems stock in a transaction dated Wednesday, July 11th. The stock was sold at an average price of $79.90, for a total transaction of $958,800.00. Following the completion of the transaction, the president now owns 12,000 shares in the company, valued at approximately $958,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Alan Mateo sold 876 shares of Veeva Systems stock in a transaction dated Tuesday, July 17th. The shares were sold at an average price of $81.32, for a total value of $71,236.32. Following the transaction, the executive vice president now owns 13,023 shares of the company’s stock, valued at approximately $1,059,030.36. The disclosure for this sale can be found here. Insiders have sold a total of 136,641 shares of company stock valued at $11,165,938 in the last quarter. Company insiders own 15.97% of the company’s stock.

A number of analysts recently commented on the company. Zacks Investment Research raised Veeva Systems from a “hold” rating to a “buy” rating and set a $94.00 target price for the company in a research report on Tuesday, July 24th. Morgan Stanley boosted their target price on Veeva Systems from $78.00 to $85.00 and gave the company an “overweight” rating in a research report on Wednesday, June 27th. SunTrust Banks assumed coverage on Veeva Systems in a research report on Monday, June 25th. They issued a “buy” rating and a $100.00 target price for the company. Deutsche Bank boosted their target price on Veeva Systems from $55.00 to $70.00 and gave the company a “hold” rating in a research report on Friday, May 25th. Finally, Needham & Company LLC boosted their target price on Veeva Systems to $90.00 and gave the company a “buy” rating in a research report on Friday, May 25th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $81.62.

Shares of Veeva Systems opened at $83.51 on Monday, Marketbeat Ratings reports. Veeva Systems Inc has a one year low of $52.17 and a one year high of $85.00. The stock has a market capitalization of $11.98 billion, a P/E ratio of 90.77, a PEG ratio of 4.62 and a beta of 1.38.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings results on Thursday, May 24th. The technology company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.02. The business had revenue of $195.55 million during the quarter, compared to the consensus estimate of $188.92 million. Veeva Systems had a return on equity of 12.47% and a net margin of 20.78%. The company’s quarterly revenue was up 22.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.24 EPS. equities analysts anticipate that Veeva Systems Inc will post 1.02 earnings per share for the current fiscal year.

Veeva Systems 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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