Fiduciary Trust Co Grows Stake in Veeva Systems Inc. (NYSE:VEEV)

Fiduciary Trust Co grew its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 0.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,289 shares of the technology company’s stock after purchasing an additional 71 shares during the period. Fiduciary Trust Co’s holdings in Veeva Systems were worth $1,740,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA grew its position in Veeva Systems by 64.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company’s stock worth $744,084,000 after purchasing an additional 1,392,256 shares during the last quarter. FMR LLC grew its holdings in shares of Veeva Systems by 25.7% during the third quarter. FMR LLC now owns 2,981,244 shares of the technology company’s stock valued at $625,674,000 after buying an additional 610,021 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Veeva Systems by 138.9% in the 3rd quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock valued at $457,366,000 after acquiring an additional 1,267,061 shares during the period. Van ECK Associates Corp raised its stake in Veeva Systems by 3.7% in the 3rd quarter. Van ECK Associates Corp now owns 1,995,006 shares of the technology company’s stock worth $434,372,000 after acquiring an additional 71,525 shares during the last quarter. Finally, Swedbank AB grew its stake in Veeva Systems by 4.9% during the 2nd quarter. Swedbank AB now owns 1,031,064 shares of the technology company’s stock valued at $188,695,000 after purchasing an additional 48,402 shares during the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Analyst Upgrades and Downgrades

VEEV has been the topic of a number of recent research reports. Raymond James upped their target price on Veeva Systems from $230.00 to $235.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Robert W. Baird cut their price objective on shares of Veeva Systems from $251.00 to $245.00 and set an “outperform” rating on the stock in a research note on Monday, October 28th. TD Cowen boosted their target price on shares of Veeva Systems from $180.00 to $192.00 and gave the company a “hold” rating in a research report on Thursday, August 29th. StockNews.com raised Veeva Systems from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. Finally, Scotiabank started coverage on Veeva Systems in a report on Monday, November 18th. They issued a “sector perform” rating and a $235.00 price objective for the company. One research analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, Veeva Systems has a consensus rating of “Moderate Buy” and a consensus target price of $236.92.

Insider Buying and Selling

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,126 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $240.01, for a total value of $270,251.26. Following the transaction, the insider now directly owns 27,013 shares in the company, valued at $6,483,390.13. The trade was a 4.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 10.50% of the stock is currently owned by company insiders.

Veeva Systems Stock Up 0.5 %

Shares of NYSE VEEV opened at $227.94 on Friday. The stock has a market capitalization of $36.91 billion, a price-to-earnings ratio of 60.78, a price-to-earnings-growth ratio of 2.20 and a beta of 0.81. Veeva Systems Inc. has a 52 week low of $165.12 and a 52 week high of $240.68. The firm has a 50-day simple moving average of $215.71 and a 200-day simple moving average of $202.00.

Veeva Systems (NYSE:VEEV) last released its earnings results on Wednesday, August 28th. The technology company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.03. The business had revenue of $676.18 million for the quarter, compared to analyst estimates of $667.21 million. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. As a group, equities research analysts expect that Veeva Systems Inc. will post 4.19 EPS for the current year.

About Veeva Systems

Veeva Systems Inc provides cloud-based software for the life sciences industry. It offers Veeva Commercial Cloud, a suite of software and analytics solutions, such as Veeva customer relationship management (CRM) that enable customer-facing employees at pharmaceutical and biotechnology companies; Veeva Vault PromoMats, an end-to-end content and digital asset management solution; Veeva Vault Medical that provides source of medical content across multiple channels and geographies; Veeva Crossix, an analytics platform for pharmaceutical brands; Veeva OpenData, a customer reference data solution; Veeva Link, a data application that allows link to generate real-time intelligence; and Veeva Compass includes de-identified and longitudinal patient data for the United States.