Jag Capital Management LLC lifted its stake in Veeva Systems Inc (NYSE:VEEV) by 7.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 145,159 shares of the technology company’s stock after purchasing an additional 10,603 shares during the quarter. Veeva Systems accounts for 3.0% of Jag Capital Management LLC’s portfolio, making the stock its 9th largest position. Jag Capital Management LLC’s holdings in Veeva Systems were worth $18,415,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Metropolitan Life Insurance Co. NY raised its position in Veeva Systems by 0.9% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 9,355 shares of the technology company’s stock valued at $836,000 after acquiring an additional 83 shares in the last quarter. Utah Retirement Systems raised its position in shares of Veeva Systems by 0.4% in the fourth quarter. Utah Retirement Systems now owns 22,400 shares of the technology company’s stock valued at $2,001,000 after purchasing an additional 100 shares during the period. Benjamin F. Edwards & Company Inc. raised its position in shares of Veeva Systems by 7.8% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,402 shares of the technology company’s stock valued at $125,000 after purchasing an additional 102 shares during the period. Parkside Financial Bank & Trust grew its stake in shares of Veeva Systems by 8.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,555 shares of the technology company’s stock worth $139,000 after acquiring an additional 119 shares during the last quarter. Finally, Alps Advisors Inc. grew its stake in shares of Veeva Systems by 2.9% in the fourth quarter. Alps Advisors Inc. now owns 5,456 shares of the technology company’s stock worth $487,000 after acquiring an additional 154 shares during the last quarter. 78.45% of the stock is owned by institutional investors and hedge funds.

In other Veeva Systems news, CFO Timothy S. Cabral sold 48,765 shares of Veeva Systems stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $113.91, for a total transaction of $5,554,821.15. Following the sale, the chief financial officer now owns 23,074 shares in the company, valued at $2,628,359.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jonathan Faddis sold 1,667 shares of Veeva Systems stock in a transaction on Monday, February 4th. The stock was sold at an average price of $113.95, for a total transaction of $189,954.65. Following the sale, the senior vice president now owns 2,740 shares in the company, valued at approximately $312,223. The disclosure for this sale can be found here. Insiders have sold 127,388 shares of company stock worth $14,903,231 in the last quarter. Corporate insiders own 15.97% of the company’s stock.

VEEV traded down $2.12 during trading on Monday, reaching $132.63. 1,276,053 shares of the company’s stock were exchanged, compared to its average volume of 1,319,574. Veeva Systems Inc has a fifty-two week low of $68.11 and a fifty-two week high of $137.26. The company has a market capitalization of $19.70 billion, a P/E ratio of 106.96, a P/E/G ratio of 5.98 and a beta of 1.72.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings results on Tuesday, February 26th. The technology company reported $0.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.05. Veeva Systems had a net margin of 26.66% and a return on equity of 16.91%. The firm had revenue of $232.32 million for the quarter, compared to the consensus estimate of $227.15 million. During the same quarter in the previous year, the company earned $0.23 earnings per share. The business’s revenue was up 24.9% compared to the same quarter last year. On average, analysts forecast that Veeva Systems Inc will post 1.53 earnings per share for the current fiscal year.

Several brokerages have recently issued reports on VEEV. DA Davidson raised their price objective on shares of Veeva Systems to $160.00 and gave the stock a “buy” rating in a research note on Friday. Needham & Company LLC restated a “buy” rating and issued a $135.00 price objective (up previously from $110.00) on shares of Veeva Systems in a research note on Wednesday, February 27th. KeyCorp raised their price objective on shares of Veeva Systems from $114.00 to $133.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 27th. Deutsche Bank raised their price objective on shares of Veeva Systems from $100.00 to $115.00 and gave the stock a “hold” rating in a research note on Wednesday, February 27th. Finally, ValuEngine upgraded shares of Veeva Systems from a “buy” rating to a “strong-buy” rating in a research note on Monday, February 4th. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Veeva Systems presently has an average rating of “Buy” and an average target price of $118.82.

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About Veeva Systems

Veeva Systems, Inc engages in the provision of industry-specific, cloud-based software solutions for the life sciences industry. Its solutions enable pharmaceutical and other life sciences companies to realize the benefits of modern cloud-based architectures and mobile applications for their most critical business functions, without compromising industry-specific functionality or regulatory compliance.

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

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