Assenagon Asset Management S.A. Has $14.19 Million Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Assenagon Asset Management S.A. boosted its holdings in Veeva Systems Inc. (NYSE:VEEVFree Report) by 328.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 73,720 shares of the technology company’s stock after buying an additional 56,519 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Veeva Systems were worth $14,193,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Veeva Systems in the 4th quarter valued at approximately $259,703,000. Wellington Management Group LLP boosted its position in Veeva Systems by 1,578.4% in the first quarter. Wellington Management Group LLP now owns 1,504,355 shares of the technology company’s stock valued at $319,616,000 after buying an additional 1,414,726 shares in the last quarter. Invesco Ltd. grew its stake in shares of Veeva Systems by 239.7% during the third quarter. Invesco Ltd. now owns 956,355 shares of the technology company’s stock worth $194,570,000 after buying an additional 674,785 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Veeva Systems by 34.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,045,414 shares of the technology company’s stock worth $416,139,000 after buying an additional 522,257 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its stake in shares of Veeva Systems by 25.0% in the 2nd quarter. Nuveen Asset Management LLC now owns 2,432,413 shares of the technology company’s stock valued at $480,961,000 after acquiring an additional 486,588 shares during the last quarter. Institutional investors own 88.20% of the company’s stock.

Insider Transactions at Veeva Systems

In related news, Director Timothy S. Cabral sold 15,000 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $226.04, for a total value of $3,390,600.00. Following the transaction, the director now owns 23,391 shares of the company’s stock, valued at approximately $5,287,301.64. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Timothy S. Cabral sold 15,000 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $226.04, for a total value of $3,390,600.00. Following the completion of the sale, the director now directly owns 23,391 shares of the company’s stock, valued at approximately $5,287,301.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Matthew J. Wallach sold 5,000 shares of the firm’s stock in a transaction on Friday, January 5th. The shares were sold at an average price of $186.05, for a total value of $930,250.00. Following the transaction, the director now owns 109,025 shares in the company, valued at $20,284,101.25. The disclosure for this sale can be found here. Insiders sold a total of 29,498 shares of company stock valued at $6,219,253 over the last three months. Corporate insiders own 10.98% of the company’s stock.

Veeva Systems Stock Performance

VEEV stock opened at $231.89 on Friday. The stock’s 50 day simple moving average is $220.08 and its 200 day simple moving average is $202.16. The company has a market cap of $37.34 billion, a P/E ratio of 72.02, a price-to-earnings-growth ratio of 2.36 and a beta of 0.74. Veeva Systems Inc. has a fifty-two week low of $160.21 and a fifty-two week high of $236.90.

Veeva Systems (NYSE:VEEVGet Free Report) last issued its earnings results on Thursday, February 29th. The technology company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.11. Veeva Systems had a return on equity of 11.26% and a net margin of 22.24%. The company had revenue of $630.62 million for the quarter, compared to analysts’ expectations of $620.75 million. Equities analysts predict that Veeva Systems Inc. will post 4.11 earnings per share for the current year.

Analysts Set New Price Targets

VEEV has been the topic of a number of research reports. Robert W. Baird boosted their price objective on Veeva Systems from $245.00 to $251.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. Needham & Company LLC raised their target price on Veeva Systems from $220.00 to $260.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Raymond James reaffirmed an “outperform” rating and set a $260.00 target price on shares of Veeva Systems in a report on Tuesday. JPMorgan Chase & Co. increased their price target on Veeva Systems from $183.00 to $222.00 and gave the company a “neutral” rating in a research note on Wednesday, March 13th. Finally, Citigroup lifted their price objective on Veeva Systems from $240.00 to $264.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $234.90.

Get Our Latest Stock Report on Veeva Systems

Veeva Systems Profile

(Free Report)

Veeva Systems Inc provides cloud-based software for the life sciences industry. It offers Veeva Commercial Cloud, a suite of software and data solutions, such as Veeva customer relationship management (CRM) that enable customer-facing employees at pharmaceutical and biotechnology companies; Veeva Vault PromoMats, an end-to-end content and digital asset management solution; Veeva Vault Medical that provides source of medical content across multiple channels and geographies; Veeva Crossix, an analytics platform for pharmaceutical brands; Veeva OpenData, a customer reference data solution; Veeva Link, a data application that allows link to generate real-time intelligence; and Veeva Compass includes de-identified and longitudinal patient data for the United States.

See Also

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

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