Mackenzie Financial Corp Has $6.88 Million Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Mackenzie Financial Corp boosted its position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 24.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,742 shares of the technology company's stock after purchasing an additional 6,467 shares during the period. Mackenzie Financial Corp's holdings in Veeva Systems were worth $6,884,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in VEEV. Barclays PLC grew its holdings in Veeva Systems by 18.2% during the 3rd quarter. Barclays PLC now owns 185,206 shares of the technology company's stock valued at $38,870,000 after purchasing an additional 28,497 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Veeva Systems by 73.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company's stock valued at $536,972,000 after purchasing an additional 1,081,501 shares in the last quarter. Fifth Third Bancorp grew its holdings in Veeva Systems by 1.2% during the 4th quarter. Fifth Third Bancorp now owns 8,541 shares of the technology company's stock valued at $1,796,000 after purchasing an additional 101 shares in the last quarter. First Citizens Bank & Trust Co. acquired a new stake in Veeva Systems during the 4th quarter valued at $210,000. Finally, Blue Trust Inc. grew its holdings in Veeva Systems by 28.0% during the 4th quarter. Blue Trust Inc. now owns 1,262 shares of the technology company's stock valued at $265,000 after purchasing an additional 276 shares in the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Veeva Systems Stock Up 0.4%

Shares of Veeva Systems stock traded up $0.99 during trading on Friday, hitting $280.03. The stock had a trading volume of 3,578,987 shares, compared to its average volume of 1,147,282. The stock has a 50 day simple moving average of $230.48 and a 200 day simple moving average of $227.86. The company has a market capitalization of $45.56 billion, a PE ratio of 69.14, a P/E/G ratio of 1.89 and a beta of 0.96. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year high of $285.70.

Veeva Systems (NYSE:VEEV - Get Free Report) last released its earnings results on Wednesday, May 28th. The technology company reported $1.97 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.23. The business had revenue of $759.04 million for the quarter, compared to the consensus estimate of $728.38 million. Veeva Systems had a net margin of 25.07% and a return on equity of 13.56%. The firm's quarterly revenue was up 16.7% compared to the same quarter last year. During the same period last year, the firm posted $1.50 earnings per share. As a group, equities analysts expect that Veeva Systems Inc. will post 4.35 earnings per share for the current fiscal year.

Insider Transactions at Veeva Systems

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,200 shares of Veeva Systems stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $220.97, for a total value of $265,164.00. Following the completion of the sale, the insider now directly owns 25,889 shares in the company, valued at $5,720,692.33. The trade was a 4.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jonathan Faddis sold 787 shares of the business's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total transaction of $178,019.40. Following the completion of the sale, the senior vice president now owns 8,668 shares of the company's stock, valued at $1,960,701.60. The trade was a 8.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,869 shares of company stock valued at $1,284,917 over the last ninety days. Corporate insiders own 10.30% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Morgan Stanley increased their price objective on shares of Veeva Systems from $201.00 to $210.00 and gave the company an "underweight" rating in a research note on Thursday. Needham & Company LLC lifted their price objective on shares of Veeva Systems from $270.00 to $300.00 and gave the company a "buy" rating in a research report on Thursday. JPMorgan Chase & Co. lifted their price objective on shares of Veeva Systems from $218.00 to $249.00 and gave the company a "neutral" rating in a research report on Thursday, March 20th. Robert W. Baird lifted their price objective on shares of Veeva Systems from $283.00 to $285.00 and gave the company an "outperform" rating in a research report on Thursday, March 6th. Finally, Citigroup lifted their price objective on shares of Veeva Systems from $265.00 to $329.00 and gave the company a "buy" rating in a research report on Friday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $269.00.

Veeva Systems Company 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.