Veeva Systems Inc. (NYSE:VEEV) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 6.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 600,010 shares of the technology company's stock after purchasing an additional 36,164 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.37% of Veeva Systems worth $115,514,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of VEEV. Wellington Management Group LLP lifted its position in shares of 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 worth $674,499,000 after purchasing an additional 289,133 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Veeva Systems by 34.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,045,414 shares of the technology company's stock valued at $416,139,000 after acquiring an additional 522,257 shares during the last quarter. FMR LLC grew its holdings in Veeva Systems by 15.4% during the 3rd quarter. FMR LLC now owns 1,833,135 shares of the technology company's stock worth $372,951,000 after acquiring an additional 244,599 shares during the period. Van ECK Associates Corp raised its position in shares of Veeva Systems by 22.6% in the 4th quarter. Van ECK Associates Corp now owns 1,775,065 shares of the technology company's stock worth $341,736,000 after acquiring an additional 327,662 shares in the last quarter. Finally, Blair William & Co. IL lifted its stake in shares of Veeva Systems by 0.9% in the 3rd quarter. Blair William & Co. IL now owns 1,466,121 shares of the technology company's stock valued at $298,282,000 after purchasing an additional 12,709 shares during the period. Institutional investors own 88.20% of the company's stock.

Veeva Systems Price Performance

VEEV traded down $0.13 during midday trading on Friday, reaching $203.78. 541,920 shares of the company's stock traded hands, compared to its average volume of 789,260. Veeva Systems Inc. has a 52 week low of $160.21 and a 52 week high of $236.90. The firm has a fifty day moving average of $215.35 and a two-hundred day moving average of $202.21. The stock has a market capitalization of $32.87 billion, a price-to-earnings ratio of 63.29, a P/E/G ratio of 2.06 and a beta of 0.76.

Veeva Systems (NYSE:VEEV - Get Free Report) last issued its quarterly 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 return on equity of 11.26% and a net margin of 22.24%. The company had revenue of $630.62 million for the quarter, compared to analysts' expectations of $620.75 million. Sell-side analysts forecast that Veeva Systems Inc. will post 4.11 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on VEEV shares. Royal Bank of Canada reissued an "outperform" rating and issued a $250.00 price objective on shares of Veeva Systems in a research note on Wednesday, March 27th. The Goldman Sachs Group lifted their price target on Veeva Systems from $219.00 to $248.00 and gave the company a "buy" rating in a research note on Friday, March 1st. Robert W. Baird increased their price objective on Veeva Systems from $245.00 to $251.00 and gave the stock an "outperform" rating in a research note on Friday, March 1st. Needham & Company LLC reiterated a "buy" rating and set a $260.00 price target on shares of Veeva Systems in a report on Tuesday, April 2nd. Finally, KeyCorp increased their price target on Veeva Systems from $232.00 to $250.00 and gave the company an "overweight" rating in a research report on Tuesday, March 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, Veeva Systems currently has an average rating of "Moderate Buy" and a consensus price target of $234.90.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, Director Timothy S. Cabral sold 15,000 shares of the stock in a transaction dated 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 transaction, the director now 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 can be accessed through this hyperlink. In other Veeva Systems news, Director Timothy S. Cabral sold 15,000 shares of the company's stock in a transaction dated 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 sale, the director now owns 23,391 shares in the company, valued at $5,287,301.64. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Alan Mateo sold 3,391 shares of the firm's stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $200.86, for a total value of $681,116.26. Following the sale, the executive vice president now directly owns 21,983 shares in the company, valued at $4,415,505.38. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,989 shares of company stock worth $4,818,013. Insiders own 10.50% of the company's stock.

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.