Veeva Systems Inc. (NYSE:VEEV) Shares Bought by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. grew its stake in Veeva Systems Inc. (NYSE:VEEV) by 2.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 397,223 shares of the technology company’s stock after buying an additional 10,316 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.25% of Veeva Systems worth $76,473,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Lecap Asset Management Ltd. purchased a new position in shares of Veeva Systems in the 4th quarter valued at about $2,668,000. Shaker Investments LLC OH purchased a new position in shares of Veeva Systems in the 4th quarter valued at about $801,000. Perigon Wealth Management LLC boosted its stake in shares of Veeva Systems by 4.5% in the 4th quarter. Perigon Wealth Management LLC now owns 2,232 shares of the technology company’s stock valued at $430,000 after buying an additional 96 shares during the period. Sapient Capital LLC purchased a new position in shares of Veeva Systems in the 4th quarter valued at about $868,000. Finally, Cardinal Capital Management boosted its stake in shares of Veeva Systems by 1.3% in the 4th quarter. Cardinal Capital Management now owns 13,705 shares of the technology company’s stock valued at $2,638,000 after buying an additional 171 shares during the period. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Trading Down 0.6 %

NYSE:VEEV opened at $199.18 on Thursday. The firm has a market cap of $32.13 billion, a P/E ratio of 61.86, a PEG ratio of 2.02 and a beta of 0.74. The stock’s 50 day simple moving average is $221.86 and its 200-day simple moving average is $202.84. Veeva Systems Inc. has a 12-month low of $160.21 and a 12-month high of $236.90.

Veeva Systems (NYSE:VEEV) last released its earnings results on Thursday, February 29th. The technology company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.11. Veeva Systems had a return on equity of 11.26% and a net margin of 22.24%. The business had revenue of $630.62 million for the quarter, compared to analyst estimates of $620.75 million. Research analysts forecast that Veeva Systems Inc. will post 4.11 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on VEEV. Jefferies Financial Group boosted their target price on Veeva Systems from $225.00 to $270.00 and gave the stock a “buy” rating in a research note on Monday, March 4th. Barclays boosted their target price on Veeva Systems from $240.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st. Royal Bank of Canada restated an “outperform” rating and set a $250.00 target price on shares of Veeva Systems in a research note on Wednesday, March 27th. Raymond James restated an “outperform” rating and set a $260.00 target price on shares of Veeva Systems in a research note on Tuesday, March 26th. Finally, Oppenheimer restated an “outperform” rating and set a $225.00 target price on shares of Veeva Systems in a research note on Thursday, February 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $234.90.

Insider Buying and Selling

In related news, COO Thomas D. Schwenger sold 1,238 shares of the company’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $210.02, for a total transaction of $260,004.76. Following the transaction, the chief operating officer now owns 24,342 shares of the company’s stock, valued at $5,112,306.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, COO Thomas D. Schwenger sold 1,238 shares of the company’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $210.02, for a total transaction of $260,004.76. Following the transaction, the chief operating officer now owns 24,342 shares of the company’s stock, valued at $5,112,306.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jonathan Faddis sold 3,598 shares of the business’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $207.42, for a total value of $746,297.16. Following the sale, the senior vice president now owns 10,668 shares in the company, valued at $2,212,756.56. The disclosure for this sale can be found here. Insiders have sold 19,836 shares of company stock valued at $4,396,902 over the last quarter. Company insiders own 10.98% of the company’s stock.

Veeva Systems Profile

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.