Veeva Systems Inc (VEEV) Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

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BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its holdings in Veeva Systems Inc (NYSE:VEEV) by 47.3% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 45,485 shares of the technology company’s stock after selling 40,886 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Veeva Systems were worth $4,063,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Hsbc Holdings PLC increased its holdings in shares of Veeva Systems by 10.3% in the fourth quarter. Hsbc Holdings PLC now owns 17,437 shares of the technology company’s stock worth $1,557,000 after purchasing an additional 1,626 shares during the period. Korea Investment CORP increased its holdings in shares of Veeva Systems by 6.7% in the fourth quarter. Korea Investment CORP now owns 137,898 shares of the technology company’s stock worth $12,317,000 after purchasing an additional 8,700 shares during the period. Nomura Asset Management Co. Ltd. increased its holdings in shares of Veeva Systems by 7.7% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 18,200 shares of the technology company’s stock worth $1,626,000 after purchasing an additional 1,300 shares during the period. Great West Life Assurance Co. Can increased its holdings in shares of Veeva Systems by 2.9% in the fourth quarter. Great West Life Assurance Co. Can now owns 29,731 shares of the technology company’s stock worth $2,536,000 after purchasing an additional 850 shares during the period. Finally, Bellevue Group AG increased its holdings in shares of Veeva Systems by 16.5% in the fourth quarter. Bellevue Group AG now owns 38,092 shares of the technology company’s stock worth $3,402,000 after purchasing an additional 5,401 shares during the period. Hedge funds and other institutional investors own 77.73% of the company’s stock.

Shares of NYSE:VEEV opened at $122.32 on Friday. Veeva Systems Inc has a 52-week low of $68.11 and a 52-week high of $124.00. The firm has a market capitalization of $17.62 billion, a P/E ratio of 98.65, a P/E/G ratio of 5.24 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 (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.05. Veeva Systems had a net margin of 26.66% and a return on equity of 17.65%. The business had revenue of $232.32 million during the quarter, compared to analyst estimates of $227.15 million. During the same period in the prior year, the business posted $0.23 earnings per share. The company’s revenue was up 24.9% on a year-over-year basis. As a group, analysts predict that Veeva Systems Inc will post 1.54 EPS for the current fiscal year.

In other Veeva Systems news, CFO Timothy S. Cabral sold 48,765 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 23,074 shares in the company, valued at $2,628,359.34. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Jonathan Faddis sold 9,000 shares of the company’s stock in a transaction dated Monday, December 17th. The shares were sold at an average price of $88.24, for a total transaction of $794,160.00. Following the sale, the senior vice president now owns 10,073 shares of the company’s stock, valued at $888,841.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 163,157 shares of company stock valued at $16,952,836. Company insiders own 15.97% of the company’s stock.

Several research analysts have recently weighed in on the stock. Zacks Investment Research cut shares of Veeva Systems from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 30th. DA Davidson upped their price target on shares of Veeva Systems to $140.00 and gave the stock a “buy” rating in a report on Wednesday, February 27th. JMP Securities upped their price target on shares of Veeva Systems to $108.00 and gave the stock an “outperform” rating in a report on Thursday, November 29th. Deutsche Bank upped their price target on shares of Veeva Systems from $100.00 to $115.00 and gave the stock a “hold” rating in a report on Wednesday, February 27th. Finally, SunTrust Banks upped their target price on shares of Veeva Systems to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, February 27th. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Veeva Systems presently has a consensus rating of “Buy” and an average price target of $117.65.

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Veeva Systems Company Profile

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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