Columbia Trust Co 01012016 Has $563,000 Holdings in Veeva Systems Inc. (NYSE:VEEV)

Columbia Trust Co 01012016 raised its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 25.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,922 shares of the technology company’s stock after purchasing an additional 587 shares during the quarter. Columbia Trust Co 01012016’s holdings in Veeva Systems were worth $563,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Veeva Systems during the 4th quarter worth approximately $259,703,000. Wellington Management Group LLP boosted its holdings in shares of Veeva Systems by 1,578.4% during the 1st quarter. Wellington Management Group LLP now owns 1,504,355 shares of the technology company’s stock worth $319,616,000 after buying an additional 1,414,726 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Veeva Systems by 239.7% during the 3rd quarter. Invesco Ltd. now owns 956,355 shares of the technology company’s stock worth $194,570,000 after buying an additional 674,785 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Veeva Systems by 34.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,045,414 shares of the technology company’s stock worth $416,139,000 after buying an additional 522,257 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its holdings in shares of Veeva Systems by 25.0% during the 2nd quarter. Nuveen Asset Management LLC now owns 2,432,413 shares of the technology company’s stock worth $480,961,000 after buying an additional 486,588 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Analysts Set New Price Targets

VEEV has been the topic of a number of recent research reports. Jefferies Financial Group increased their target price on Veeva Systems from $225.00 to $270.00 and gave the stock a “buy” rating in a report on Monday, March 4th. Needham & Company LLC increased their target price on Veeva Systems from $220.00 to $260.00 and gave the stock a “buy” rating in a report on Friday, March 1st. Citigroup increased their target price on Veeva Systems from $240.00 to $264.00 and gave the stock a “buy” rating in a report on Friday, March 1st. The Goldman Sachs Group increased their target price on Veeva Systems from $219.00 to $248.00 and gave the stock a “buy” rating in a report on Friday, March 1st. Finally, UBS Group increased their target price on Veeva Systems from $185.00 to $235.00 and gave the stock a “neutral” rating in a report on Monday, February 26th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $234.90.

Veeva Systems Stock Performance

Shares of VEEV opened at $233.53 on Thursday. The business has a 50-day moving average of $219.45 and a 200 day moving average of $201.94. Veeva Systems Inc. has a fifty-two week low of $160.21 and a fifty-two week high of $236.90. The firm has a market cap of $37.60 billion, a P/E ratio of 72.52, a price-to-earnings-growth ratio of 2.35 and a beta of 0.74.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Thursday, February 29th. The technology company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.11. Veeva Systems had a return on equity of 11.26% and a net margin of 22.24%. The company had revenue of $630.62 million during the quarter, compared to analyst estimates of $620.75 million. As a group, research analysts predict that Veeva Systems Inc. will post 4.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Veeva Systems news, Director Matthew J. Wallach sold 5,000 shares of the firm’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $186.05, for a total value of $930,250.00. Following the completion of the transaction, the director now owns 109,025 shares in the company, valued at approximately $20,284,101.25. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CMO Eleni Nitsa Zuppas sold 4,350 shares of Veeva Systems stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $192.61, for a total transaction of $837,853.50. Following the completion of the sale, the chief marketing officer now owns 19,057 shares in the company, valued at approximately $3,670,568.77. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Matthew J. Wallach sold 5,000 shares of Veeva Systems stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $186.05, for a total value of $930,250.00. Following the sale, the director now owns 109,025 shares of the company’s stock, valued at approximately $20,284,101.25. The disclosure for this sale can be found here. Insiders sold a total of 29,498 shares of company stock worth $6,219,253 in the last quarter. 10.98% of the stock is owned by company insiders.

Veeva Systems Company Profile

Veeva Systems Inc provides cloud-based software for the life sciences industry. It offers Veeva Commercial Cloud, a suite of software and data 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.