CIBC Asset Management Inc Has $743,000 Position in Veeva Systems Inc (NYSE:VEEV)

CIBC Asset Management Inc increased its position in Veeva Systems Inc (NYSE:VEEV) by 14.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,857 shares of the technology company’s stock after purchasing an additional 721 shares during the period. CIBC Asset Management Inc’s holdings in Veeva Systems were worth $743,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in VEEV. FMR LLC increased its holdings in Veeva Systems by 63.4% in the 4th quarter. FMR LLC now owns 5,926,515 shares of the technology company’s stock worth $529,357,000 after acquiring an additional 2,300,472 shares in the last quarter. Norges Bank bought a new stake in Veeva Systems in the fourth quarter worth $97,108,000. Millennium Management LLC lifted its position in Veeva Systems by 76.7% in the fourth quarter. Millennium Management LLC now owns 902,016 shares of the technology company’s stock worth $80,568,000 after buying an additional 391,441 shares during the last quarter. Two Sigma Advisers LP lifted its position in Veeva Systems by 56.1% in the fourth quarter. Two Sigma Advisers LP now owns 1,036,900 shares of the technology company’s stock worth $92,616,000 after buying an additional 372,700 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in Veeva Systems by 82.1% in the first quarter. Victory Capital Management Inc. now owns 605,422 shares of the technology company’s stock worth $76,804,000 after buying an additional 272,909 shares during the last quarter. Institutional investors own 78.11% of the company’s stock.

In other Veeva Systems news, SVP Frederic Lequient sold 1,841 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $163.95, for a total value of $301,831.95. Following the completion of the transaction, the senior vice president now directly owns 2,000 shares of the company’s stock, valued at $327,900. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Alan Mateo sold 487 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $163.95, for a total value of $79,843.65. Following the completion of the transaction, the executive vice president now directly owns 20,022 shares of the company’s stock, valued at $3,282,606.90. The disclosure for this sale can be found here. Insiders have sold 104,126 shares of company stock valued at $15,453,935 in the last ninety days. Corporate insiders own 14.38% of the company’s stock.

VEEV has been the subject of several research analyst reports. Bank of America lifted their target price on Veeva Systems from $160.00 to $192.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Barclays initiated coverage on Veeva Systems in a research report on Wednesday, February 20th. They set an “equal weight” rating and a $130.00 target price for the company. DA Davidson lifted their target price on Veeva Systems to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, February 27th. JMP Securities lifted their target price on Veeva Systems from $108.00 to $122.00 and gave the stock a “market outperform” rating in a research report on Wednesday, February 27th. Finally, Zacks Investment Research downgraded Veeva Systems from a “buy” rating to a “hold” rating in a research report on Monday, February 18th. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $147.00.

Shares of VEEV stock traded down $1.70 during trading hours on Friday, reaching $164.63. 747,840 shares of the company’s stock were exchanged, compared to its average volume of 1,781,018. Veeva Systems Inc has a 1 year low of $73.47 and a 1 year high of $168.46. The firm has a market capitalization of $24.49 billion, a price-to-earnings ratio of 132.77, a PEG ratio of 6.81 and a beta of 1.51. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.73 and a current ratio of 3.73.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings results on Wednesday, May 29th. The technology company reported $0.37 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.08). Veeva Systems had a return on equity of 17.61% and a net margin of 28.41%. The business had revenue of $244.75 million for the quarter, compared to analysts’ expectations of $238.69 million. During the same quarter in the previous year, the firm posted $0.33 EPS. Veeva Systems’s revenue was up 25.2% on a year-over-year basis. As a group, equities analysts forecast that Veeva Systems Inc will post 1.6 earnings per share for the current year.

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Veeva Systems Profile

Veeva Systems Inc provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, and internationally. The company offers Veeva Commercial Cloud, a suite of multichannel customer relationship management applications, data solutions, and master data management solutions; 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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