Standard Life Aberdeen plc Has $2.52 Million Stake in Veeva Systems Inc (VEEV)

Standard Life Aberdeen plc grew its stake in shares of Veeva Systems Inc (NYSE:VEEV) by 0.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 28,830 shares of the technology company’s stock after acquiring an additional 169 shares during the period. Standard Life Aberdeen plc’s holdings in Veeva Systems were worth $2,523,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of VEEV. O Shaughnessy Asset Management LLC boosted its stake in Veeva Systems by 110.6% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 13,808 shares of the technology company’s stock worth $1,234,000 after buying an additional 7,251 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its stake in Veeva Systems by 6.2% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 20,511 shares of the technology company’s stock worth $1,603,000 after buying an additional 1,200 shares in the last quarter. Glynn Capital Management LLC boosted its stake in Veeva Systems by 13.7% in the fourth quarter. Glynn Capital Management LLC now owns 245,077 shares of the technology company’s stock worth $21,890,000 after buying an additional 29,469 shares in the last quarter. Jaffetilchin Investment Partners LLC boosted its stake in Veeva Systems by 44.4% in the fourth quarter. Jaffetilchin Investment Partners LLC now owns 2,952 shares of the technology company’s stock worth $264,000 after buying an additional 907 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in Veeva Systems by 12.0% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 74,526 shares of the technology company’s stock worth $6,657,000 after buying an additional 7,986 shares in the last quarter. 77.73% of the stock is owned by institutional investors.

Shares of NYSE:VEEV traded up $0.58 during trading on Friday, reaching $122.90. 14,036 shares of the company traded hands, compared to its average volume of 1,410,289. The firm has a market cap of $17.78 billion, a PE ratio of 99.44, a price-to-earnings-growth ratio of 5.24 and a beta of 1.72. Veeva Systems Inc has a 52-week low of $68.11 and a 52-week high of $124.00.

Veeva Systems (NYSE:VEEV) last announced its earnings results on Tuesday, February 26th. The technology company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.05. The company had revenue of $232.32 million during the quarter, compared to the consensus estimate of $227.15 million. Veeva Systems had a return on equity of 17.65% and a net margin of 26.66%. The firm’s revenue for the quarter was up 24.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.23 earnings per share. As a group, equities research analysts forecast that Veeva Systems Inc will post 1.54 EPS for the current fiscal year.

Several analysts have issued reports on VEEV shares. KeyCorp upped their target price on Veeva Systems from $108.00 to $114.00 and gave the stock an “overweight” rating in a research note on Thursday, November 29th. JMP Securities upped their target price on Veeva Systems to $108.00 and gave the stock an “outperform” rating in a research note on Thursday, November 29th. Bank of America reissued a “buy” rating and set a $120.00 price objective (up previously from $110.00) on shares of Veeva Systems in a research note on Thursday, November 29th. Morgan Stanley increased their price objective on Veeva Systems from $109.00 to $112.00 and gave the company an “overweight” rating in a research note on Thursday, November 29th. Finally, Leerink Swann initiated coverage on Veeva Systems in a research note on Tuesday, December 4th. They set an “outperform” rating and a $120.00 price objective for the company. Seven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Veeva Systems presently has an average rating of “Buy” and a consensus price target of $117.65.

In related news, SVP Jonathan Faddis sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, December 24th. The stock was sold at an average price of $80.15, for a total transaction of $160,300.00. Following the completion of the transaction, the senior vice president now owns 3,073 shares in the company, valued at $246,300.95. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Eleni Nitsa Zuppas sold 3,000 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $115.03, for a total value of $345,090.00. Following the completion of the transaction, the insider now owns 12,738 shares of the company’s stock, valued at approximately $1,465,252.14. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 163,157 shares of company stock valued at $16,952,836. 15.97% of the stock is owned by corporate insiders.

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Veeva Systems 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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