Thrivent Financial for Lutherans Has $23.66 Million Stake in Veeva Systems Inc (NYSE:VEEV)

Thrivent Financial for Lutherans boosted its position in Veeva Systems Inc (NYSE:VEEV) by 45.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 264,888 shares of the technology company’s stock after acquiring an additional 82,725 shares during the period. Thrivent Financial for Lutherans owned 0.18% of Veeva Systems worth $23,660,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in VEEV. Metropolitan Life Insurance Co. NY raised its stake in shares of Veeva Systems by 0.9% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 9,355 shares of the technology company’s stock worth $836,000 after purchasing an additional 83 shares during the last quarter. Yale University purchased a new stake in shares of Veeva Systems in the third quarter worth approximately $13,064,000. QS Investors LLC raised its stake in shares of Veeva Systems by 235.7% in the fourth quarter. QS Investors LLC now owns 44,243 shares of the technology company’s stock worth $3,952,000 after purchasing an additional 31,062 shares during the last quarter. Bank of Montreal Can raised its stake in shares of Veeva Systems by 200.2% in the fourth quarter. Bank of Montreal Can now owns 111,628 shares of the technology company’s stock worth $9,971,000 after purchasing an additional 74,442 shares during the last quarter. Finally, Toronto Dominion Bank raised its stake in shares of Veeva Systems by 24.1% in the fourth quarter. Toronto Dominion Bank now owns 16,282 shares of the technology company’s stock worth $1,454,000 after purchasing an additional 3,164 shares during the last quarter. Institutional investors and hedge funds own 78.45% of the company’s stock.

In other news, President Matthew J. Wallach sold 12,000 shares of the firm’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $135.62, for a total value of $1,627,440.00. Following the completion of the transaction, the president now directly owns 12,000 shares of the company’s stock, valued at $1,627,440. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michele O’connor sold 833 shares of the firm’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $135.54, for a total value of $112,904.82. Following the completion of the transaction, the insider now directly owns 833 shares of the company’s stock, valued at $112,904.82. The disclosure for this sale can be found here. Insiders sold 127,388 shares of company stock valued at $14,903,231 over the last three months. Company insiders own 15.97% of the company’s stock.

NYSE:VEEV traded down $2.12 during trading hours on Monday, reaching $132.63. The stock had a trading volume of 1,263,501 shares, compared to its average volume of 1,319,574. Veeva Systems Inc has a 12-month low of $68.11 and a 12-month high of $137.26. The company has a market capitalization of $19.70 billion, a P/E ratio of 106.96, a P/E/G ratio of 5.98 and a beta of 1.72.

Veeva Systems (NYSE:VEEV) last released its earnings results on Tuesday, February 26th. The technology company reported $0.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.05. Veeva Systems had a return on equity of 16.91% and a net margin of 26.66%. The business had revenue of $232.32 million during the quarter, compared to the consensus estimate of $227.15 million. During the same period last year, the business posted $0.23 earnings per share. The business’s revenue for the quarter was up 24.9% on a year-over-year basis. Analysts forecast that Veeva Systems Inc will post 1.53 EPS for the current year.

A number of analysts recently commented on VEEV shares. DA Davidson increased their price target on Veeva Systems to $160.00 and gave the company a “buy” rating in a research report on Friday. SunTrust Banks increased their price target on Veeva Systems to $140.00 and gave the company a “buy” rating in a research report on Wednesday, February 27th. JMP Securities increased their price target on Veeva Systems from $108.00 to $122.00 and gave the company a “market outperform” rating in a research report on Wednesday, February 27th. Deutsche Bank increased their price target on Veeva Systems from $100.00 to $115.00 and gave the company a “hold” rating in a research report on Wednesday, February 27th. Finally, Barclays increased their price target on Veeva Systems from $130.00 to $133.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 27th. Seven research 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 company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $118.82.

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Veeva Systems Company Profile

Veeva Systems, Inc engages in the provision of industry-specific, cloud-based software solutions for the 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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