Nissay Asset Management Corp Japan ADV Grows Position in Veeva Systems Inc (VEEV)

Nissay Asset Management Corp Japan ADV lifted its stake in Veeva Systems Inc (NYSE:VEEV) by 7.8% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 10,697 shares of the technology company’s stock after acquiring an additional 770 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Veeva Systems were worth $1,357,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ffcm LLC acquired a new stake in shares of Veeva Systems in the fourth quarter valued at approximately $26,000. First Personal Financial Services increased its holdings in shares of Veeva Systems by 241.7% in the first quarter. First Personal Financial Services now owns 205 shares of the technology company’s stock valued at $26,000 after purchasing an additional 145 shares in the last quarter. Bollard Group LLC acquired a new stake in shares of Veeva Systems in the fourth quarter valued at approximately $27,000. Private Capital Group LLC increased its holdings in shares of Veeva Systems by 508.6% in the fourth quarter. Private Capital Group LLC now owns 353 shares of the technology company’s stock valued at $32,000 after purchasing an additional 295 shares in the last quarter. Finally, Executive Wealth Management LLC acquired a new stake in shares of Veeva Systems in the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 77.96% of the company’s stock.

A number of brokerages recently weighed in on VEEV. Needham & Company LLC reissued a “buy” rating and issued a $150.00 price target (up previously from $135.00) on shares of Veeva Systems in a report on Wednesday, April 17th. DA Davidson raised their price target on shares of Veeva Systems to $160.00 and gave the company a “buy” rating in a report on Friday, April 12th. SunTrust Banks raised their price target on shares of Veeva Systems to $140.00 and gave the company a “buy” rating in a report on Wednesday, February 27th. JMP Securities raised their price target on shares of Veeva Systems from $108.00 to $122.00 and gave the company a “market outperform” rating in a report on Wednesday, February 27th. Finally, Deutsche Bank raised their price target on shares of Veeva Systems from $100.00 to $115.00 and gave the company a “hold” rating in a report on Wednesday, February 27th. Seven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Veeva Systems currently has an average rating of “Buy” and a consensus target price of $119.71.

In other news, CFO Timothy S. Cabral sold 48,765 shares of Veeva Systems stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $113.91, for a total transaction of $5,554,821.15. Following the transaction, the chief financial officer now directly owns 23,074 shares of the company’s stock, valued at $2,628,359.34. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CMO Eleni Nitsa Zuppas sold 3,000 shares of Veeva Systems stock in a transaction on Friday, May 10th. The stock was sold at an average price of $141.28, for a total transaction of $423,840.00. Following the transaction, the chief marketing officer now directly owns 12,738 shares in the company, valued at $1,799,624.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 123,542 shares of company stock worth $15,168,295. Insiders own 14.38% of the company’s stock.

Shares of VEEV stock opened at $141.76 on Friday. Veeva Systems Inc has a 52-week low of $73.47 and a 52-week high of $145.70. The company has a market capitalization of $21.12 billion, a price-to-earnings ratio of 121.18, a price-to-earnings-growth ratio of 6.36 and a beta of 1.71.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Tuesday, February 26th. The technology company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.04. Veeva Systems had a net margin of 26.66% and a return on equity of 16.91%. The firm had revenue of $232.32 million for the quarter, compared to analysts’ expectations of $227.15 million. During the same period last year, the firm earned $0.23 earnings per share. The business’s revenue for the quarter was up 24.9% on a year-over-year basis. On average, equities research analysts predict that Veeva Systems Inc will post 1.53 EPS for the current year.

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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 and data 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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