E. Ohman J or Asset Management AB Has $39.90 Million Stake in Veeva Systems Inc. (NYSE:VEEV)

E. Ohman J or Asset Management AB trimmed its position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 7.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 172,274 shares of the technology company's stock after selling 13,713 shares during the quarter. Veeva Systems makes up about 1.1% of E. Ohman J or Asset Management AB's investment portfolio, making the stock its 24th largest holding. E. Ohman J or Asset Management AB owned approximately 0.11% of Veeva Systems worth $39,904,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Cardinal Capital Management lifted its holdings in Veeva Systems by 0.3% in the 4th quarter. Cardinal Capital Management now owns 15,727 shares of the technology company's stock worth $3,307,000 after purchasing an additional 44 shares during the last quarter. Johnson Financial Group Inc. lifted its holdings in Veeva Systems by 22.7% in the 4th quarter. Johnson Financial Group Inc. now owns 238 shares of the technology company's stock worth $56,000 after purchasing an additional 44 shares during the last quarter. Colonial Trust Co SC lifted its holdings in Veeva Systems by 30.3% in the 4th quarter. Colonial Trust Co SC now owns 241 shares of the technology company's stock worth $51,000 after purchasing an additional 56 shares during the last quarter. Twin City Private Wealth LLC lifted its holdings in Veeva Systems by 2.9% in the 4th quarter. Twin City Private Wealth LLC now owns 2,036 shares of the technology company's stock worth $428,000 after purchasing an additional 58 shares during the last quarter. Finally, CoreCap Advisors LLC lifted its holdings in Veeva Systems by 31.7% in the 4th quarter. CoreCap Advisors LLC now owns 249 shares of the technology company's stock worth $52,000 after purchasing an additional 60 shares during the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Veeva Systems Stock Down 1.7%

NYSE:VEEV traded down $4.86 during trading hours on Friday, reaching $285.08. The company had a trading volume of 2,087,466 shares, compared to its average volume of 1,135,959. The stock has a 50-day moving average of $234.43 and a two-hundred day moving average of $229.56. Veeva Systems Inc. has a one year low of $176.41 and a one year high of $293.45. The firm has a market capitalization of $46.38 billion, a PE ratio of 70.39, a PEG ratio of 1.89 and a beta of 0.99.

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

Analyst Ratings Changes

VEEV has been the subject of a number of research analyst reports. Morgan Stanley upped their price target on Veeva Systems from $201.00 to $210.00 and gave the stock an "underweight" rating in a report on Thursday, May 29th. Scotiabank upped their price target on Veeva Systems from $240.00 to $245.00 and gave the stock a "sector perform" rating in a report on Thursday, March 6th. Barclays upped their price target on Veeva Systems from $285.00 to $300.00 and gave the stock an "overweight" rating in a report on Thursday, May 29th. KeyCorp cut their price target on Veeva Systems from $260.00 to $250.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Finally, Wall Street Zen upgraded Veeva Systems from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $269.80.

Insider Activity

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,200 shares of the stock in a transaction 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 sale, the insider now directly owns 25,889 shares in the company, valued at approximately $5,720,692.33. This trade represents a 4.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Jonathan Faddis sold 787 shares of the 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 in the company, valued at approximately $1,960,701.60. This trade represents a 8.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,869 shares of company stock valued at $1,284,917 over the last 90 days. 10.30% of the stock is owned by company insiders.

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.