Mackenzie Financial Corp Has $4.30 Million Holdings in Veeva Systems Inc. (NYSE:VEEV)

Mackenzie Financial Corp cut its stake in shares of Veeva Systems Inc. (NYSE:VEEVGet Rating) by 1.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,714 shares of the technology company’s stock after selling 263 shares during the period. Mackenzie Financial Corp’s holdings in Veeva Systems were worth $4,300,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Harbor Investment Advisory LLC lifted its position in 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 acquiring an additional 72 shares during the last quarter. Fieldpoint Private Securities LLC acquired a new stake in Veeva Systems during the second quarter worth approximately $30,000. Lansing Street Advisors acquired a new stake in Veeva Systems during the first quarter worth approximately $39,000. IndexIQ Advisors LLC acquired a new stake in Veeva Systems during the first quarter worth approximately $43,000. Finally, Global Wealth Management Investment Advisory Inc. lifted its position in Veeva Systems by 63.9% during the first quarter. Global Wealth Management Investment Advisory Inc. now owns 218 shares of the technology company’s stock worth $46,000 after acquiring an additional 85 shares during the last quarter. 80.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Veeva Systems

In other news, Director Matthew J. Wallach sold 10,000 shares of the business’s stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $169.49, for a total transaction of $1,694,900.00. Following the completion of the sale, the director now directly owns 2,546 shares of the company’s stock, valued at $431,521.54. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Veeva Systems news, Director Paul Edward Chamberlain sold 260 shares of the company’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $179.99, for a total value of $46,797.40. Following the completion of the sale, the director now directly owns 16,443 shares of the company’s stock, valued at approximately $2,959,575.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Matthew J. Wallach sold 10,000 shares of the company’s stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $169.49, for a total transaction of $1,694,900.00. Following the completion of the sale, the director now directly owns 2,546 shares of the company’s stock, valued at $431,521.54. The disclosure for this sale can be found here. Insiders sold a total of 30,260 shares of company stock valued at $5,096,397 over the last three months. Corporate insiders own 13.23% of the company’s stock.

Veeva Systems Stock Performance

Shares of NYSE:VEEV opened at $184.08 on Monday. The firm has a market cap of $28.58 billion, a PE ratio of 75.75, a price-to-earnings-growth ratio of 4.40 and a beta of 0.81. The firm’s fifty day moving average is $168.87 and its 200-day moving average is $185.87. Veeva Systems Inc. has a 52 week low of $151.02 and a 52 week high of $310.75.

Veeva Systems (NYSE:VEEVGet Rating) last released its earnings results on Wednesday, August 31st. The technology company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.11). The firm had revenue of $534.20 million during the quarter, compared to analyst estimates of $530.70 million. Veeva Systems had a net margin of 19.67% and a return on equity of 13.40%. Veeva Systems’s quarterly revenue was up 17.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.64 EPS. Sell-side analysts forecast that Veeva Systems Inc. will post 2.53 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Oppenheimer reaffirmed an “initiates” rating on shares of Veeva Systems in a report on Wednesday, July 27th. Piper Sandler lowered their target price on shares of Veeva Systems from $245.00 to $220.00 and set an “overweight” rating on the stock in a report on Thursday, October 20th. JMP Securities lowered their target price on shares of Veeva Systems from $240.00 to $215.00 and set a “market outperform” rating on the stock in a report on Thursday, September 1st. Royal Bank of Canada lowered their target price on shares of Veeva Systems from $250.00 to $225.00 and set an “outperform” rating on the stock in a report on Thursday, September 1st. Finally, UBS Group lowered their target price on shares of Veeva Systems from $220.00 to $185.00 and set a “neutral” rating on the stock in a report on Thursday, September 1st. Ten analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $215.74.

Veeva Systems 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.

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

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