Veeva Systems Inc. (NYSE:VEEV) Shares Acquired by Jensen Investment Management Inc.

Jensen Investment Management Inc. lifted its holdings in Veeva Systems Inc. (NYSE:VEEV) by 9.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 23,251 shares of the technology company’s stock after acquiring an additional 2,021 shares during the quarter. Jensen Investment Management Inc.’s holdings in Veeva Systems were worth $4,880,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of VEEV. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of Veeva Systems in the third quarter worth $26,000. Advisors Asset Management Inc. acquired a new stake in shares of Veeva Systems in the first quarter worth $28,000. Blue Trust Inc. boosted its position in shares of Veeva Systems by 3,460.0% in the second quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock worth $33,000 after buying an additional 173 shares during the period. DT Investment Partners LLC acquired a new stake in Veeva Systems during the second quarter valued at $35,000. Finally, Mather Group LLC. boosted its position in Veeva Systems by 166.3% during the second quarter. Mather Group LLC. now owns 253 shares of the technology company’s stock valued at $46,000 after purchasing an additional 158 shares during the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on VEEV. Bank of America lifted their price objective on Veeva Systems from $204.00 to $240.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Barclays lifted their price objective on Veeva Systems from $240.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday. UBS Group lifted their price objective on Veeva Systems from $185.00 to $215.00 and gave the company a “neutral” rating in a research report on Monday, August 26th. Citigroup lifted their price objective on Veeva Systems from $256.00 to $273.00 and gave the company a “buy” rating in a research report on Tuesday, August 27th. Finally, StockNews.com upgraded Veeva Systems from a “hold” rating to a “buy” rating in a report on Saturday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Veeva Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $237.00.

Veeva Systems Trading Up 5.2 %

VEEV traded up $11.61 on Friday, hitting $235.00. 2,472,493 shares of the stock traded hands, compared to its average volume of 752,313. Veeva Systems Inc. has a 52 week low of $162.72 and a 52 week high of $240.68. The firm has a market capitalization of $38.05 billion, a PE ratio of 62.67, a P/E/G ratio of 2.29 and a beta of 0.81. The business has a fifty day moving average price of $213.98 and a two-hundred day moving average price of $199.75.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings results on Wednesday, August 28th. The technology company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.03. The firm had revenue of $676.18 million for the quarter, compared to analyst estimates of $667.21 million. Veeva Systems had a return on equity of 13.30% and a net margin of 23.91%. On average, equities research analysts forecast that Veeva Systems Inc. will post 4.21 EPS for the current fiscal year.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 2,353 shares of Veeva Systems stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $200.00, for a total transaction of $470,600.00. Following the sale, the senior vice president now directly owns 9,035 shares of the company’s stock, valued at approximately $1,807,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 10.50% of the company’s stock.

Veeva Systems Profile

Veeva Systems Inc provides cloud-based software for the life sciences industry. It offers Veeva Commercial Cloud, a suite of software and analytics 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.