Veeva Systems Inc. (NYSE:VEEV) Shares Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. raised its stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 328.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 73,720 shares of the technology company's stock after buying an additional 56,519 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Veeva Systems were worth $14,193,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. OFI Invest Asset Management bought a new stake in Veeva Systems during the third quarter worth about $25,000. Rise Advisors LLC raised its stake in Veeva Systems by 424.0% during the third quarter. Rise Advisors LLC now owns 131 shares of the technology company's stock worth $27,000 after acquiring an additional 106 shares in the last quarter. Operose Advisors LLC bought a new stake in shares of Veeva Systems in the third quarter worth $29,000. Resurgent Financial Advisors LLC bought a new stake in shares of Veeva Systems in the 4th quarter worth $33,000. Finally, Parkside Financial Bank & Trust increased its holdings in Veeva Systems by 81.9% in the 3rd quarter. Parkside Financial Bank & Trust now owns 171 shares of the technology company's stock worth $35,000 after acquiring an additional 77 shares during the last quarter. Institutional investors and hedge funds own 88.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Oppenheimer reiterated an "outperform" rating and issued a $225.00 target price on shares of Veeva Systems in a research report on Thursday, February 22nd. The Goldman Sachs Group upped their price objective on Veeva Systems from $219.00 to $248.00 and gave the stock a "buy" rating in a report on Friday, March 1st. Royal Bank of Canada reissued an "outperform" rating and issued a $250.00 target price on shares of Veeva Systems in a report on Wednesday. StockNews.com downgraded shares of Veeva Systems from a "buy" rating to a "hold" rating in a research note on Wednesday, March 13th. Finally, KeyCorp lifted their price objective on shares of Veeva Systems from $232.00 to $250.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 5th. One analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Veeva Systems has an average rating of "Moderate Buy" and an average target price of $234.90.

Insider Transactions at Veeva Systems

In other Veeva Systems news, Director Matthew J. Wallach sold 5,000 shares of the company's stock in a transaction on Friday, January 5th. The shares were sold at an average price of $186.05, for a total transaction of $930,250.00. Following the completion of the transaction, the director now directly owns 109,025 shares in the company, valued at $20,284,101.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Alan Mateo sold 910 shares of Veeva Systems stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $204.72, for a total value of $186,295.20. Following the sale, the executive vice president now directly owns 21,983 shares of the company's stock, valued at $4,500,359.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Matthew J. Wallach sold 5,000 shares of the stock in a transaction on Friday, January 5th. The shares were sold at an average price of $186.05, for a total value of $930,250.00. Following the completion of the transaction, the director now directly owns 109,025 shares of the company's stock, valued at $20,284,101.25. The disclosure for this sale can be found here. Insiders sold a total of 29,498 shares of company stock valued at $6,219,253 in the last three months. 10.98% of the stock is currently owned by company insiders.

Veeva Systems Stock Down 0.7 %

Shares of VEEV stock traded down $1.70 on Friday, hitting $231.69. The company had a trading volume of 796,887 shares, compared to its average volume of 1,031,130. The firm has a market cap of $37.31 billion, a P/E ratio of 71.95, a price-to-earnings-growth ratio of 2.36 and a beta of 0.74. Veeva Systems Inc. has a twelve month low of $160.21 and a twelve month high of $236.90. The company has a 50-day moving average price of $220.63 and a 200-day moving average price of $202.37.

Veeva Systems (NYSE:VEEV - Get Free Report) last posted its earnings results on Thursday, February 29th. The technology company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.11. The firm had revenue of $630.62 million during the quarter, compared to analysts' expectations of $620.75 million. Veeva Systems had a net margin of 22.24% and a return on equity of 11.26%. Equities research analysts expect that Veeva Systems Inc. will post 4.11 EPS for the current year.

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 data 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.