Veeva Systems Inc. $VEEV Stake Lowered by Epoch Investment Partners Inc.

Epoch Investment Partners Inc. cut its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 28.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 974 shares of the technology company’s stock after selling 388 shares during the quarter. Epoch Investment Partners Inc.’s holdings in Veeva Systems were worth $226,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in VEEV. Leigh Baldwin & CO. LLC bought a new position in shares of Veeva Systems during the fourth quarter valued at approximately $685,355,000. Nuveen LLC bought a new position in shares of Veeva Systems during the first quarter valued at approximately $365,684,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Veeva Systems by 20.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,992,372 shares of the technology company’s stock valued at $924,754,000 after purchasing an additional 689,700 shares during the last quarter. Stockbridge Partners LLC bought a new position in shares of Veeva Systems during the fourth quarter valued at approximately $137,260,000. Finally, Linonia Partnership LP grew its holdings in shares of Veeva Systems by 52.7% during the first quarter. Linonia Partnership LP now owns 1,836,557 shares of the technology company’s stock valued at $425,402,000 after purchasing an additional 633,585 shares during the last quarter. 88.20% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Jonathan Faddis sold 720 shares of the stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $285.62, for a total transaction of $205,646.40. Following the completion of the sale, the senior vice president owned 7,902 shares in the company, valued at approximately $2,256,969.24. This represents a 8.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Priscilla Hung sold 171 shares of the stock in a transaction on Monday, July 7th. The shares were sold at an average price of $284.40, for a total value of $48,632.40. Following the sale, the director owned 3,966 shares of the company’s stock, valued at $1,127,930.40. This trade represents a 4.13% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,378 shares of company stock worth $394,217 over the last ninety days. Company insiders own 10.30% of the company’s stock.

Wall Street Analysts Forecast Growth

VEEV has been the subject of a number of recent analyst reports. Raymond James Financial increased their price objective on Veeva Systems from $285.00 to $310.00 and gave the stock an “outperform” rating in a report on Thursday, May 29th. UBS Group increased their price objective on Veeva Systems from $250.00 to $285.00 and gave the stock a “neutral” rating in a report on Thursday, May 29th. KeyCorp increased their price objective on Veeva Systems from $285.00 to $325.00 and gave the stock an “overweight” rating in a report on Monday, July 14th. Stifel Nicolaus increased their price objective on Veeva Systems from $272.00 to $295.00 and gave the stock a “buy” rating in a report on Thursday, May 29th. Finally, Barclays increased their price objective on Veeva Systems from $285.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday, May 29th. Fourteen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Veeva Systems presently has an average rating of “Moderate Buy” and an average price target of $275.25.

Veeva Systems Price Performance

VEEV opened at $295.23 on Thursday. The company has a market capitalization of $48.24 billion, a price-to-earnings ratio of 62.55, a price-to-earnings-growth ratio of 2.27 and a beta of 0.95. Veeva Systems Inc. has a 1-year low of $198.12 and a 1-year high of $296.72. The business has a 50 day moving average price of $282.76 and a two-hundred day moving average price of $253.55.

Veeva Systems (NYSE:VEEV) last released its earnings results on Wednesday, May 28th. The technology company reported $1.97 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.23. The firm had revenue of $759.04 million during the quarter, compared to the consensus estimate of $728.38 million. Veeva Systems had a return on equity of 13.96% and a net margin of 27.34%.The firm’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.50 earnings per share. Equities analysts expect that Veeva Systems Inc. will post 4.35 EPS for the current fiscal year.

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 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.