Cerity Partners LLC Boosts Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Cerity Partners LLC raised its stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 26.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,754 shares of the technology company's stock after buying an additional 16,730 shares during the period. Cerity Partners LLC's holdings in Veeva Systems were worth $15,354,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Veeva Systems by 1.0% in the first quarter. Vanguard Group Inc. now owns 12,888,204 shares of the technology company's stock valued at $2,738,229,000 after purchasing an additional 132,560 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of Veeva Systems by 4.3% during the second quarter. Alliancebernstein L.P. now owns 7,779,200 shares of the technology company's stock worth $1,538,181,000 after buying an additional 323,959 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of Veeva Systems by 7.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,061,137 shares of the technology company's stock worth $655,387,000 after acquiring an additional 279,628 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Veeva Systems by 9.6% in the 3rd quarter. Wellington Management Group LLP now owns 3,315,304 shares of the technology company's stock valued at $674,499,000 after purchasing an additional 289,133 shares during the period. Finally, State Street Corp grew its position in Veeva Systems by 2.0% in the 1st quarter. State Street Corp now owns 2,929,979 shares of the technology company's stock worth $538,496,000 after purchasing an additional 58,544 shares during the last quarter. Institutional investors and hedge funds own 88.20% of the company's stock.

Insider Activity

In other Veeva Systems news, Director Timothy S. Cabral sold 15,000 shares of Veeva Systems stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $226.04, for a total transaction of $3,390,600.00. Following the completion of the transaction, the director now directly owns 23,391 shares of the company's stock, valued at $5,287,301.64. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Veeva Systems news, Director Timothy S. Cabral sold 15,000 shares of the firm's stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $226.04, for a total transaction of $3,390,600.00. Following the completion of the sale, the director now directly owns 23,391 shares in the company, valued at $5,287,301.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Thomas D. Schwenger sold 1,238 shares of the company's stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $210.02, for a total value of $260,004.76. Following the completion of the transaction, the chief operating officer now directly owns 24,342 shares in the company, valued at approximately $5,112,306.84. The disclosure for this sale can be found here. Insiders sold a total of 17,148 shares of company stock valued at $3,836,900 over the last three months. Insiders own 10.98% of the company's stock.

Veeva Systems Price Performance

NYSE VEEV traded down $4.45 on Friday, hitting $206.74. 788,451 shares of the stock were exchanged, compared to its average volume of 915,584. The company has a market capitalization of $33.35 billion, a PE ratio of 64.20, a P/E/G ratio of 2.09 and a beta of 0.74. The business's fifty day moving average is $222.40 and its 200 day moving average is $202.90. Veeva Systems Inc. has a 52 week low of $160.21 and a 52 week high of $236.90.

Veeva Systems (NYSE:VEEV - Get Free Report) last released its quarterly earnings data 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 company had revenue of $630.62 million for the quarter, compared to analyst estimates of $620.75 million. Analysts predict that Veeva Systems Inc. will post 4.11 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

VEEV has been the subject of several recent research reports. The Goldman Sachs Group upped their price target on Veeva Systems from $219.00 to $248.00 and gave the company a "buy" rating in a report on Friday, March 1st. Barclays boosted their price target on shares of Veeva Systems from $240.00 to $245.00 and gave the company an "overweight" rating in a report on Friday, March 1st. StockNews.com upgraded Veeva Systems from a "hold" rating to a "buy" rating in a report on Friday. Citigroup raised their price target on Veeva Systems from $240.00 to $264.00 and gave the stock a "buy" rating in a research report on Friday, March 1st. Finally, Robert W. Baird boosted their price objective on Veeva Systems from $245.00 to $251.00 and gave the company an "outperform" rating in a research report on Friday, March 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat, Veeva Systems presently 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 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.