Universal Beteiligungs und Servicegesellschaft mbH Reduces Holdings in Veeva Systems Inc. (NYSE:VEEV)

Universal Beteiligungs und Servicegesellschaft mbH reduced its position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 9.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 186,341 shares of the technology company's stock after selling 18,421 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH owned 0.11% of Veeva Systems worth $43,162,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. T. Rowe Price Investment Management Inc. lifted its stake in Veeva Systems by 3.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,169,698 shares of the technology company's stock valued at $1,086,930,000 after buying an additional 177,201 shares in the last quarter. Leigh Baldwin & CO. LLC purchased a new position in Veeva Systems in the 4th quarter valued at about $685,355,000. FMR LLC lifted its stake in Veeva Systems by 7.8% in the 4th quarter. FMR LLC now owns 3,213,360 shares of the technology company's stock valued at $675,609,000 after buying an additional 232,116 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Veeva Systems by 6.4% in the 1st quarter. Principal Financial Group Inc. now owns 3,152,357 shares of the technology company's stock valued at $730,181,000 after buying an additional 188,332 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Veeva Systems by 17.5% in the 4th quarter. JPMorgan Chase & Co. now owns 3,005,633 shares of the technology company's stock valued at $631,935,000 after buying an additional 447,041 shares in the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Veeva Systems Trading Down 0.2%

Veeva Systems stock traded down $0.52 during midday trading on Friday, reaching $290.73. 1,210,059 shares of the stock traded hands, compared to its average volume of 1,228,931. The company has a 50-day simple moving average of $275.05 and a two-hundred day simple moving average of $244.47. Veeva Systems Inc. has a 12-month low of $177.41 and a 12-month high of $294.00. The firm has a market cap of $47.51 billion, a PE ratio of 61.60, a price-to-earnings-growth ratio of 2.30 and a beta of 0.98.

Veeva Systems (NYSE:VEEV - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The technology company reported $1.97 earnings per share for the quarter, topping analysts' consensus estimates of $1.74 by $0.23. Veeva Systems had a return on equity of 13.96% and a net margin of 27.34%. The business had revenue of $759.04 million for the quarter, compared to analyst estimates of $728.38 million. During the same quarter in the prior year, the company earned $1.50 earnings per share. The company's revenue was up 16.7% on a year-over-year basis. Equities research analysts anticipate that Veeva Systems Inc. will post 4.35 earnings per share for the current year.

Insider Transactions at Veeva Systems

In related news, Director Timothy S. Cabral sold 315 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $289.72, for a total value of $91,261.80. Following the transaction, the director owned 5,500 shares of the company's stock, valued at $1,593,460. This represents a 5.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Jonathan Faddis sold 720 shares of the firm's stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $285.62, for a total value of $205,646.40. Following the sale, the senior vice president directly owned 7,902 shares in the company, valued at $2,256,969.24. This trade represents a 8.35% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,378 shares of company stock valued at $394,217. 10.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Wells Fargo & Company raised their price target on shares of Veeva Systems from $285.00 to $300.00 and gave the company an "overweight" rating in a research note on Thursday, May 29th. UBS Group raised their price target on shares of Veeva Systems from $250.00 to $285.00 and gave the company a "neutral" rating in a research note on Thursday, May 29th. Raymond James Financial boosted their target price on Veeva Systems from $285.00 to $310.00 and gave the stock an "outperform" rating in a report on Thursday, May 29th. Morgan Stanley boosted their target price on Veeva Systems from $201.00 to $210.00 and gave the stock an "underweight" rating in a report on Thursday, May 29th. Finally, Needham & Company LLC boosted their target price on Veeva Systems from $270.00 to $300.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, Veeva Systems has a consensus rating of "Moderate Buy" and a consensus target price of $274.17.

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.