Ieq Capital LLC Boosts Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Ieq Capital LLC raised its holdings in shares of Veeva Systems Inc. (NYSE:VEEV – Get Rating) by 34.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 8,802 shares of the technology company’s stock after acquiring an additional 2,263 shares during the period. Ieq Capital LLC’s holdings in Veeva Systems were worth $1,452,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Harbor Investment Advisory LLC boosted its holdings in shares of Veeva Systems by 120.0% during the second quarter. Harbor Investment Advisory LLC now owns 132 shares of the technology company’s stock worth $26,000 after purchasing an additional 72 shares during the period. Fieldpoint Private Securities LLC purchased a new stake in shares of Veeva Systems during the second quarter worth about $30,000. Mizuho Securities Co. Ltd. boosted its holdings in shares of Veeva Systems by 42.9% during the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the technology company’s stock worth $51,000 after purchasing an additional 60 shares during the period. City Holding Co. bought a new position in Veeva Systems in the third quarter worth about $34,000. Finally, Global Wealth Management Investment Advisory Inc. raised its stake in Veeva Systems by 63.9% in the first quarter. Global Wealth Management Investment Advisory Inc. now owns 218 shares of the technology company’s stock worth $46,000 after buying an additional 85 shares in the last quarter. 78.76% of the stock is currently owned by hedge funds and other institutional investors.

Veeva Systems Trading Down 0.4 %

VEEV stock opened at $168.09 on Wednesday. Veeva Systems Inc. has a 12 month low of $151.02 and a 12 month high of $239.67. The company has a 50-day moving average price of $170.37 and a 200 day moving average price of $181.69. The stock has a market cap of $26.17 billion, a PE ratio of 68.61, a P/E/G ratio of 4.27 and a beta of 0.89.

Veeva Systems (NYSE:VEEV – Get Rating) last released its quarterly earnings data on Thursday, December 1st. The technology company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.03. The company had revenue of $552.35 million during the quarter, compared to analysts’ expectations of $545.78 million. Veeva Systems had a net margin of 19.08% and a return on equity of 12.81%. Sell-side analysts forecast that Veeva Systems Inc. will post 2.52 EPS for the current year.

Wall Street Analyst Weigh In

VEEV has been the subject of a number of research reports. Cowen initiated coverage on shares of Veeva Systems in a research note on Tuesday, December 6th. They issued a “market perform” rating and a $184.00 price target for the company. Oppenheimer reduced their price target on shares of Veeva Systems from $250.00 to $225.00 and set an “outperform” rating for the company in a research report on Thursday, January 12th. StockNews.com downgraded shares of Veeva Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, December 13th. Raymond James dropped their target price on shares of Veeva Systems from $215.00 to $200.00 and set an “outperform” rating on the stock in a report on Tuesday, January 17th. Finally, JPMorgan Chase & Co. upgraded shares of Veeva Systems from an “underweight” rating to a “neutral” rating and dropped their target price for the stock from $225.00 to $170.00 in a report on Wednesday, October 19th. Ten equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Veeva Systems currently has an average rating of “Moderate Buy” and an average target price of $208.65.

Insider Buying and Selling at Veeva Systems

In other news, CEO Peter P. Gassner sold 58,333 shares of the company’s stock in a transaction that occurred on Monday, December 5th. The shares were sold at an average price of $168.83, for a total value of $9,848,360.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Matthew J. Wallach sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $169.49, for a total value of $1,694,900.00. Following the completion of the sale, the director now owns 2,546 shares of the company’s stock, valued at approximately $431,521.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Peter P. Gassner sold 58,333 shares of the company’s stock in a transaction that occurred on Monday, December 5th. The stock was sold at an average price of $168.83, for a total transaction of $9,848,360.39. The disclosure for this sale can be found here. Insiders sold a total of 318,610 shares of company stock valued at $53,401,824 in the last three months. Company insiders own 13.23% of the company’s stock.

Veeva Systems Company Profile

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Veeva Systems Inc provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, the Middle East, Africa, and Latin America. The company offers Veeva Commercial Cloud, a suite of software, data, and analytics solutions, which include Veeva customer relationship management (CRM) and Veeva Medical CRM, Veeva CLM, Veeva CRM MyInsights, Veeva CLM, Veeva CRM Approved Email, Veeva CRM Engage, Veeva Align, Veeva CRM Events Management, Veeva Nitro, Veeva OpenData, Veeva Link, Veeva Network, Veeva Crossix, Veeva Data Cloud, and MyVeeva for Patients; and Veeva Vault, a cloud-based enterprise content and data management applications for managing commercial functions, including sales and marketing, and medical content and communications, as well as research and development functions, such as clinical, regulatory, quality, and safety.