Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Has $38.59 Million Position in Veeva Systems Inc. (NYSE:VEEV)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 38.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 186,055 shares of the technology company's stock after purchasing an additional 51,672 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned approximately 0.12% of Veeva Systems worth $38,590,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. UMB Bank n.a. lifted its holdings in Veeva Systems by 2.5% during the 3rd quarter. UMB Bank n.a. now owns 2,103 shares of the technology company's stock worth $428,000 after buying an additional 51 shares during the period. NewEdge Wealth LLC lifted its holdings in Veeva Systems by 0.6% during the 3rd quarter. NewEdge Wealth LLC now owns 10,059 shares of the technology company's stock worth $2,047,000 after buying an additional 60 shares during the period. Personal CFO Solutions LLC lifted its holdings in Veeva Systems by 5.9% during the 3rd quarter. Personal CFO Solutions LLC now owns 1,091 shares of the technology company's stock worth $222,000 after buying an additional 61 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in Veeva Systems by 3.4% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,940 shares of the technology company's stock worth $395,000 after buying an additional 63 shares during the period. Finally, Cape Investment Advisory Inc. lifted its holdings in Veeva Systems by 3.0% during the 3rd quarter. Cape Investment Advisory Inc. now owns 2,180 shares of the technology company's stock worth $444,000 after buying an additional 64 shares during the period. 88.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Timothy S. Cabral sold 15,000 shares of the company's stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $226.04, for a total value 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 filing with the SEC, which is accessible through this hyperlink. In related news, SVP Jonathan Faddis sold 3,598 shares of the company's stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $207.42, for a total value of $746,297.16. Following the transaction, the senior vice president now owns 10,668 shares in the company, valued at $2,212,756.56. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Timothy S. Cabral sold 15,000 shares of the company'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 value of $3,390,600.00. Following the completion of the transaction, the director now owns 23,391 shares in the company, valued at approximately $5,287,301.64. The disclosure for this sale can be found here. 10.98% of the stock is currently owned by corporate insiders.

Veeva Systems Stock Performance

VEEV traded up $0.78 during midday trading on Monday, reaching $199.16. 743,971 shares of the company were exchanged, compared to its average volume of 982,049. The company's fifty day moving average price is $220.78 and its 200 day moving average price is $202.82. The company has a market cap of $32.13 billion, a price-to-earnings ratio of 61.85, a price-to-earnings-growth ratio of 2.00 and a beta of 0.74. Veeva Systems Inc. has a one year low of $160.21 and a one year high of $236.90.

Veeva Systems (NYSE:VEEV - Get Free Report) last issued its quarterly earnings data on Thursday, February 29th. The technology company reported $0.92 EPS for the quarter, topping analysts' consensus estimates of $0.81 by $0.11. The firm had revenue of $630.62 million during the quarter, compared to analyst estimates of $620.75 million. Veeva Systems had a return on equity of 11.26% and a net margin of 22.24%. As a group, sell-side analysts anticipate that Veeva Systems Inc. will post 4.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on VEEV shares. Stifel Nicolaus lifted their target price on Veeva Systems from $205.00 to $250.00 and gave the stock a "buy" rating in a report on Friday, March 1st. Barclays boosted their price objective on Veeva Systems from $240.00 to $245.00 and gave the company an "overweight" rating in a research note on Friday, March 1st. JPMorgan Chase & Co. boosted their price objective on Veeva Systems from $183.00 to $222.00 and gave the company a "neutral" rating in a research note on Wednesday, March 13th. 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 note on Friday, March 1st. Finally, Raymond James reissued an "outperform" rating and issued a $260.00 price objective on shares of Veeva Systems in a research note on Tuesday, March 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $234.90.

About Veeva Systems

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.

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