Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Grows Position in Veeva Systems Inc. (NYSE:VEEV)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its holdings in shares of Veeva Systems Inc. (NYSE:VEEV – Get Rating) by 0.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 41,084 shares of the technology company’s stock after purchasing an additional 78 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Veeva Systems were worth $10,496,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in VEEV. Magnetar Financial LLC purchased a new position in shares of Veeva Systems during the 3rd quarter worth $377,000. First Republic Investment Management Inc. grew its holdings in shares of Veeva Systems by 19.0% during the 3rd quarter. First Republic Investment Management Inc. now owns 26,366 shares of the technology company’s stock worth $7,598,000 after purchasing an additional 4,216 shares during the period. Geode Capital Management LLC grew its holdings in shares of Veeva Systems by 4.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,022,303 shares of the technology company’s stock worth $582,017,000 after purchasing an additional 93,779 shares during the period. Barings LLC purchased a new position in shares of Veeva Systems during the 3rd quarter worth $295,000. Finally, Oppenheimer & Co. Inc. grew its holdings in shares of Veeva Systems by 1.8% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 7,661 shares of the technology company’s stock worth $2,208,000 after purchasing an additional 138 shares during the period.

In related news, Director Ronald E. F. Codd sold 20,000 shares of Veeva Systems stock in a transaction that occurred on Wednesday, April 6th. The stock was sold at an average price of $207.14, for a total value of $4,142,800.00. Following the sale, the director now directly owns 442 shares in the company, valued at $91,555.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Paul J. Sekhri sold 11,000 shares of Veeva Systems stock in a transaction that occurred on Thursday, March 31st. The shares were sold at an average price of $214.02, for a total value of $2,354,220.00. The disclosure for this sale can be found here. Insiders own 13.18% of the company’s stock.

A number of equities analysts recently commented on the company. Barclays lowered their target price on Veeva Systems from $237.00 to $195.00 and set an “equal weight” rating for the company in a report on Tuesday. JMP Securities lowered their target price on Veeva Systems from $345.00 to $265.00 and set a “market outperform” rating for the company in a report on Thursday, March 10th. SVB Leerink reiterated a “buy” rating and issued a $268.00 price objective on shares of Veeva Systems in a research note on Monday, March 14th. Raymond James decreased their price objective on Veeva Systems from $335.00 to $260.00 and set an “outperform” rating for the company in a research note on Thursday, March 3rd. Finally, Royal Bank of Canada decreased their price objective on Veeva Systems from $400.00 to $300.00 and set an “outperform” rating for the company in a research note on Thursday, March 3rd. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, Veeva Systems currently has a consensus rating of “Buy” and an average price target of $282.44.

VEEV traded up $3.43 during trading on Wednesday, hitting $161.42. 1,478,639 shares of the stock were exchanged, compared to its average volume of 1,077,474. The firm has a market capitalization of $24.92 billion, a P/E ratio of 61.38, a PEG ratio of 3.27 and a beta of 0.85. Veeva Systems Inc. has a 1-year low of $152.04 and a 1-year high of $343.96. The stock has a fifty day moving average price of $186.67 and a two-hundred day moving average price of $224.97.

Veeva Systems (NYSE:VEEV – Get Rating) last released its quarterly earnings results on Wednesday, March 2nd. The technology company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.59 by $0.01. The company had revenue of $485.50 million for the quarter, compared to analyst estimates of $479.98 million. Veeva Systems had a return on equity of 15.61% and a net margin of 23.09%. During the same quarter in the previous year, the company posted $0.54 earnings per share. On average, analysts forecast that Veeva Systems Inc. will post 2.76 EPS for the current fiscal year.

Veeva Systems Company Profile (Get Rating)

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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