Victory Capital Management Inc. Has $152.52 Million Position in Veeva Systems Inc. (NYSE:VEEV)

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Victory Capital Management Inc. lowered its stake in Veeva Systems Inc. (NYSE:VEEV) by 14.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 542,389 shares of the technology company’s stock after selling 90,848 shares during the period. Victory Capital Management Inc. owned 0.36% of Veeva Systems worth $152,515,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Americana Partners LLC grew its holdings in Veeva Systems by 2.2% during the 3rd quarter. Americana Partners LLC now owns 1,611 shares of the technology company’s stock worth $452,000 after acquiring an additional 34 shares during the period. Patten Group Inc. grew its holdings in Veeva Systems by 2.4% during the 3rd quarter. Patten Group Inc. now owns 1,701 shares of the technology company’s stock worth $478,000 after acquiring an additional 40 shares during the period. Shepherd Financial Partners LLC grew its holdings in Veeva Systems by 0.8% during the 2nd quarter. Shepherd Financial Partners LLC now owns 6,034 shares of the technology company’s stock worth $1,414,000 after acquiring an additional 45 shares during the period. Endurance Wealth Management Inc. grew its holdings in Veeva Systems by 26.3% during the 3rd quarter. Endurance Wealth Management Inc. now owns 221 shares of the technology company’s stock worth $62,000 after acquiring an additional 46 shares during the period. Finally, IFG Advisory LLC grew its holdings in Veeva Systems by 0.6% during the 2nd quarter. IFG Advisory LLC now owns 8,951 shares of the technology company’s stock worth $2,098,000 after acquiring an additional 50 shares during the period. 79.56% of the stock is owned by institutional investors and hedge funds.

In related news, Director Timothy C. Barabe sold 1,292 shares of the company’s stock in a transaction dated Tuesday, October 13th. The shares were sold at an average price of $308.69, for a total value of $398,827.48. Following the transaction, the director now owns 5,891 shares in the company, valued at approximately $1,818,492.79. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Jonathan Faddis sold 5,000 shares of the company’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $276.53, for a total transaction of $1,382,650.00. Following the completion of the transaction, the senior vice president now owns 5,576 shares in the company, valued at approximately $1,541,931.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,128 shares of company stock worth $6,748,344. 14.38% of the stock is owned by company insiders.

VEEV has been the topic of a number of recent analyst reports. FBN Securities lifted their price target on shares of Veeva Systems from $300.00 to $310.00 and gave the stock an “outperform” rating in a research report on Friday, August 28th. JPMorgan Chase & Co. lifted their price target on shares of Veeva Systems from $200.00 to $297.00 and gave the stock a “neutral” rating in a research report on Friday, August 28th. JMP Securities lifted their price target on shares of Veeva Systems from $210.00 to $293.00 in a research report on Friday, August 28th. Stifel Nicolaus lifted their price target on shares of Veeva Systems from $225.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, August 28th. Finally, SVB Leerink lifted their price target on shares of Veeva Systems from $167.00 to $282.00 and gave the stock a “market perform” rating in a research report on Friday, August 28th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and fourteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $275.28.

Shares of Veeva Systems stock traded up $0.07 during trading on Tuesday, hitting $264.69. 3,639 shares of the stock were exchanged, compared to its average volume of 1,200,371. The stock has a market capitalization of $39.91 billion, a price-to-earnings ratio of 128.46, a price-to-earnings-growth ratio of 10.89 and a beta of 0.91. The company has a fifty day moving average price of $286.94 and a 200-day moving average price of $252.14. Veeva Systems Inc. has a 1-year low of $118.11 and a 1-year high of $313.99.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Thursday, August 27th. The technology company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.08. The company had revenue of $353.68 million for the quarter, compared to analyst estimates of $340.00 million. Veeva Systems had a net margin of 25.60% and a return on equity of 15.77%. Veeva Systems’s revenue for the quarter was up 32.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.55 EPS. Equities research analysts expect that Veeva Systems Inc. will post 1.82 earnings per share for the current fiscal year.

Veeva Systems Company Profile

Veeva Systems Inc provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, the Middle East, Africa, and Latin America. The company offers Veeva Commercial Cloud, a suite of multichannel customer relationship management applications, commercial data warehouse, allocation and alignment applications, master data management application, and data and services; 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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