Toronto Dominion Bank Increases Stake in Veeva Systems Inc (VEEV)

Toronto Dominion Bank lifted its position in Veeva Systems Inc (NYSE:VEEV) by 38.4% in the 1st quarter, HoldingsChannel reports. The fund owned 22,533 shares of the technology company’s stock after acquiring an additional 6,251 shares during the quarter. Toronto Dominion Bank’s holdings in Veeva Systems were worth $2,858,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Metropolitan Life Insurance Co. NY grew its stake in shares of Veeva Systems by 0.9% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 9,355 shares of the technology company’s stock worth $836,000 after buying an additional 83 shares during the last quarter. Utah Retirement Systems boosted its stake in Veeva Systems by 0.4% during the 4th quarter. Utah Retirement Systems now owns 22,400 shares of the technology company’s stock valued at $2,001,000 after purchasing an additional 100 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in Veeva Systems by 7.8% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,402 shares of the technology company’s stock valued at $125,000 after purchasing an additional 102 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in Veeva Systems by 0.4% during the 1st quarter. Nisa Investment Advisors LLC now owns 27,209 shares of the technology company’s stock valued at $3,452,000 after purchasing an additional 110 shares during the last quarter. Finally, Parallel Advisors LLC boosted its stake in Veeva Systems by 6.4% during the 1st quarter. Parallel Advisors LLC now owns 1,946 shares of the technology company’s stock valued at $247,000 after purchasing an additional 117 shares during the last quarter. 78.02% of the stock is owned by hedge funds and other institutional investors.

Veeva Systems stock traded down $3.71 during trading on Thursday, reaching $140.72. The company had a trading volume of 22,013 shares, compared to its average volume of 902,619. Veeva Systems Inc has a 52 week low of $73.47 and a 52 week high of $145.70. The stock has a market cap of $20.95 billion, a P/E ratio of 116.48, a P/E/G ratio of 6.32 and a beta of 1.71.

Veeva Systems (NYSE:VEEV) last announced its earnings results on Tuesday, February 26th. The technology company reported $0.35 EPS for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.04. Veeva Systems had a return on equity of 16.91% and a net margin of 26.66%. The company 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 EPS. Veeva Systems’s revenue for the quarter was up 24.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Veeva Systems Inc will post 1.53 EPS for the current fiscal year.

VEEV has been the topic of a number of research reports. Needham & Company LLC restated a “buy” rating and issued a $150.00 price target (up from $135.00) on shares of Veeva Systems in a research note on Wednesday, April 17th. DA Davidson raised their price target on Veeva Systems to $160.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. KeyCorp raised their price target on Veeva Systems from $114.00 to $133.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 27th. Stifel Nicolaus raised their price target on Veeva Systems from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Deutsche Bank raised their price target on Veeva Systems from $100.00 to $115.00 and gave the stock a “hold” rating in a research note on Wednesday, February 27th. Seven equities research 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. The stock currently has a consensus rating of “Buy” and an average target price of $122.06.

In other Veeva Systems news, insider Eleni Nitsa Zuppas sold 5,000 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $113.06, for a total transaction of $565,300.00. Following the sale, the insider now directly owns 13,438 shares of the company’s stock, valued at $1,519,300.28. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Alan Mateo sold 4,026 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $141.12, for a total value of $568,149.12. Following the sale, the executive vice president now directly owns 25,200 shares in the company, valued at $3,556,224. 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. 14.38% of the stock is owned by insiders.

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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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