William Blair Investment Management LLC raised its stake in Veeva Systems Inc. (NYSE:VEEV) by 74.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,883,002 shares of the company’s stock after buying an additional 1,651,830 shares during the period. William Blair Investment Management LLC owned approximately 2.83% of Veeva Systems worth $158,038,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Artisan Partners Limited Partnership boosted its stake in Veeva Systems by 21.3% in the fourth quarter. Artisan Partners Limited Partnership now owns 6,540,897 shares of the company’s stock worth $266,214,000 after buying an additional 1,149,023 shares during the last quarter. Fiera Capital Corp purchased a new stake in Veeva Systems during the second quarter worth approximately $28,186,000. Gilder Gagnon Howe & Co. LLC boosted its stake in Veeva Systems by 478.6% in the third quarter. Gilder Gagnon Howe & Co. LLC now owns 890,240 shares of the company’s stock worth $36,749,000 after buying an additional 736,388 shares during the last quarter. First Trust Advisors LP boosted its stake in Veeva Systems by 41.3% in the third quarter. First Trust Advisors LP now owns 2,285,878 shares of the company’s stock worth $94,361,000 after buying an additional 668,595 shares during the last quarter. Finally, Riverbridge Partners LLC boosted its stake in Veeva Systems by 15.0% in the third quarter. Riverbridge Partners LLC now owns 2,279,422 shares of the company’s stock worth $94,095,000 after buying an additional 297,689 shares during the last quarter. 66.72% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Veeva Systems (NYSE:VEEV)

Shares of Veeva Systems Inc. (NYSE:VEEV) traded down 1.38% on Thursday, reaching $43.69. 505,139 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $42.93 and a 200 day moving average of $41.02. Veeva Systems Inc. has a one year low of $21.60 and a one year high of $47.95. The firm has a market capitalization of $5.99 billion, a P/E ratio of 97.09 and a beta of 1.67.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings results on Tuesday, November 22nd. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. Veeva Systems had a net margin of 12.73% and a return on equity of 12.42%. The business earned $142.80 million during the quarter, compared to analysts’ expectations of $135.67 million. During the same period last year, the business earned $0.12 earnings per share. The business’s revenue for the quarter was up 33.6% on a year-over-year basis. On average, equities research analysts predict that Veeva Systems Inc. will post $0.68 EPS for the current year.

This story was first published by Watch List News and is owned by of Watch List News. If you are viewing this story on another site, it was illegally stolen and republished in violation of U.S. & international copyright & trademark law. The correct version of this story can be viewed at http://www.watchlistnews.com/william-blair-investment-management-llc-boosts-stake-in-veeva-systems-inc-veev/1121386.html.

A number of equities research analysts recently commented on VEEV shares. Canaccord Genuity increased their target price on shares of Veeva Systems from $46.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, November 23rd. Stifel Nicolaus increased their target price on shares of Veeva Systems from $45.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, November 23rd. Deutsche Bank AG increased their target price on shares of Veeva Systems from $36.00 to $44.00 and gave the company a “hold” rating in a research report on Wednesday, November 23rd. KeyCorp increased their target price on shares of Veeva Systems from $42.00 to $48.00 and gave the company an “overweight” rating in a research report on Wednesday, November 23rd. Finally, JMP Securities reissued a “hold” rating on shares of Veeva Systems in a research report on Thursday, November 24th. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $44.93.

In related news, President Matthew J. Wallach sold 84,000 shares of Veeva Systems stock in a transaction that occurred on Thursday, December 8th. The shares were sold at an average price of $43.22, for a total value of $3,630,480.00. Following the completion of the transaction, the president now owns 42,000 shares in the company, valued at $1,815,240. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Timothy S. Cabral sold 41,875 shares of Veeva Systems stock in a transaction that occurred on Thursday, December 8th. The shares were sold at an average price of $42.95, for a total transaction of $1,798,531.25. Following the completion of the transaction, the chief financial officer now owns 35,000 shares of the company’s stock, valued at approximately $1,503,250. The disclosure for this sale can be found here. Insiders sold 450,507 shares of company stock valued at $19,815,909 in the last 90 days. Company insiders own 19.17% of the company’s stock.

Veeva Systems Company Profile

Veeva Systems Inc (Veeva) is a provider of cloud-based software solutions for the global life sciences industry. The Company offers solutions for a range of requirements within life sciences companies, including multichannel customer relationship management, regulated content and information management, master data management and customer data.

5 Day Chart for NYSE:VEEV

Want to see what other hedge funds are holding VEEV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Veeva Systems Inc. (NYSE:VEEV).

Receive News & Ratings for Veeva Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Veeva Systems Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.