Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new stake in Veeva Systems Inc (NYSE:VEEV) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,400 shares of the technology company’s stock, valued at approximately $261,000.

A number of other hedge funds also recently bought and sold shares of the business. Schwab Charles Investment Management Inc. lifted its position in shares of Veeva Systems by 7.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 396,532 shares of the technology company’s stock valued at $28,955,000 after buying an additional 28,178 shares during the last quarter. American International Group Inc. lifted its position in shares of Veeva Systems by 56.5% in the first quarter. American International Group Inc. now owns 4,023 shares of the technology company’s stock valued at $294,000 after buying an additional 1,452 shares during the last quarter. Aperio Group LLC lifted its position in shares of Veeva Systems by 5.5% in the first quarter. Aperio Group LLC now owns 14,182 shares of the technology company’s stock valued at $1,036,000 after buying an additional 733 shares during the last quarter. US Bancorp DE lifted its position in shares of Veeva Systems by 13.9% in the first quarter. US Bancorp DE now owns 41,672 shares of the technology company’s stock valued at $3,043,000 after buying an additional 5,078 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of Veeva Systems by 5.2% in the first quarter. Northern Trust Corp now owns 748,113 shares of the technology company’s stock valued at $54,628,000 after buying an additional 37,132 shares during the last quarter. Hedge funds and other institutional investors own 75.99% of the company’s stock.

VEEV has been the subject of a number of recent analyst reports. Zacks Investment Research raised Veeva Systems from a “hold” rating to a “strong-buy” rating and set a $117.00 price objective for the company in a research report on Wednesday, August 29th. ValuEngine raised Veeva Systems from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 28th. Guggenheim initiated coverage on Veeva Systems in a research report on Tuesday, August 7th. They issued a “buy” rating and a $100.00 price objective for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price objective (up from $90.00) on shares of Veeva Systems in a research report on Friday, August 24th. Finally, Morgan Stanley raised their price objective on Veeva Systems from $91.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, August 24th. They noted that the move was a valuation call. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and three have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $94.29.

NYSE:VEEV opened at $105.14 on Tuesday. The company has a market cap of $14.90 billion, a P/E ratio of 114.28, a PEG ratio of 4.90 and a beta of 1.52. Veeva Systems Inc has a 1-year low of $52.17 and a 1-year high of $107.77.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings results on Thursday, August 23rd. The technology company reported $0.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.05. The business had revenue of $209.60 million during the quarter, compared to analysts’ expectations of $203.50 million. Veeva Systems had a return on equity of 13.58% and a net margin of 21.23%. The firm’s revenue for the quarter was up 24.9% compared to the same quarter last year. During the same period last year, the firm posted $0.23 EPS. analysts predict that Veeva Systems Inc will post 1.1 earnings per share for the current year.

In other Veeva Systems news, CFO Timothy S. Cabral sold 25,000 shares of Veeva Systems stock in a transaction on Wednesday, September 12th. The stock was sold at an average price of $103.08, for a total value of $2,577,000.00. Following the completion of the transaction, the chief financial officer now directly owns 25,000 shares of the company’s stock, valued at approximately $2,577,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Timothy S. Cabral sold 50,000 shares of Veeva Systems stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $101.49, for a total value of $5,074,500.00. Following the completion of the transaction, the chief financial officer now directly owns 30,000 shares of the company’s stock, valued at $3,044,700. The disclosure for this sale can be found here. Over the last three months, insiders have sold 181,043 shares of company stock valued at $17,034,539. 15.97% of the stock is currently owned by insiders.

Veeva Systems Company 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 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.

Recommended Story: Market Capitalization in the Stock Market

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

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