Lannebo Fonder AB Has $33.35 Million Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Lannebo Fonder AB grew its position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 16.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 170,287 shares of the technology company's stock after purchasing an additional 24,600 shares during the period. Veeva Systems makes up about 4.4% of Lannebo Fonder AB's holdings, making the stock its 12th largest holding. Lannebo Fonder AB owned about 0.11% of Veeva Systems worth $33,347,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale increased its position in shares of Veeva Systems by 26.3% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 98,377 shares of the technology company's stock worth $18,953,000 after acquiring an additional 20,488 shares during the period. New York State Teachers Retirement System purchased a new stake in shares of Veeva Systems during the fourth quarter worth $1,022,000. Arkadios Wealth Advisors increased its position in shares of Veeva Systems by 4.6% during the fourth quarter. Arkadios Wealth Advisors now owns 2,735 shares of the technology company's stock worth $527,000 after acquiring an additional 120 shares during the period. International Assets Investment Management LLC increased its holdings in Veeva Systems by 16,580.5% in the fourth quarter. International Assets Investment Management LLC now owns 187,322 shares of the technology company's stock valued at $36,063,000 after buying an additional 186,199 shares during the last quarter. Finally, Liberty Capital Management Inc. increased its holdings in Veeva Systems by 8.1% in the fourth quarter. Liberty Capital Management Inc. now owns 4,832 shares of the technology company's stock valued at $930,000 after buying an additional 361 shares during the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Veeva Systems

In related news, CMO Eleni Nitsa Zuppas sold 4,350 shares of the firm's stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $192.61, for a total value of $837,853.50. Following the completion of the sale, the chief marketing officer now owns 19,057 shares in the company, valued at $3,670,568.77. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP Alan Mateo sold 910 shares of the firm's stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $204.72, for a total value of $186,295.20. Following the completion of the sale, the executive vice president now owns 21,983 shares in the company, valued at $4,500,359.76. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CMO Eleni Nitsa Zuppas sold 4,350 shares of the firm's stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $192.61, for a total transaction of $837,853.50. Following the completion of the sale, the chief marketing officer now owns 19,057 shares of the company's stock, valued at approximately $3,670,568.77. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,498 shares of company stock worth $5,289,003. Company insiders own 10.98% of the company's stock.

Veeva Systems Trading Down 0.0 %

Shares of VEEV traded down $0.01 during mid-day trading on Friday, hitting $214.73. 890,728 shares of the company's stock were exchanged, compared to its average volume of 839,986. Veeva Systems Inc. has a fifty-two week low of $160.21 and a fifty-two week high of $236.90. The firm has a market capitalization of $34.64 billion, a P/E ratio of 66.69, a P/E/G ratio of 2.17 and a beta of 0.74. The business's 50 day moving average is $222.05 and its two-hundred day moving average is $202.65.

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

Analyst Upgrades and Downgrades

VEEV has been the topic of several recent analyst reports. UBS Group increased their target price on Veeva Systems from $185.00 to $235.00 and gave the company a "neutral" rating in a report on Monday, February 26th. 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, March 27th. The Goldman Sachs Group increased their target price on Veeva Systems from $219.00 to $248.00 and gave the company a "buy" rating in a report on Friday, March 1st. Raymond James reissued an "outperform" rating and issued a $260.00 target price on shares of Veeva Systems in a report on Tuesday, March 26th. Finally, Jefferies Financial Group increased their target price on Veeva Systems from $225.00 to $270.00 and gave the company a "buy" rating in a report on Monday, March 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $234.90.

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 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.