Canada Pension Plan Investment Board Boosts Holdings in Veeva Systems Inc. (NYSE:VEEV)

Canada Pension Plan Investment Board increased its position in Veeva Systems Inc. (NYSE:VEEV) by 293.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 90,227 shares of the technology company’s stock after purchasing an additional 67,296 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Veeva Systems were worth $16,512,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in VEEV. Advisors Asset Management Inc. acquired a new stake in shares of Veeva Systems during the first quarter valued at about $28,000. DSM Capital Partners LLC acquired a new stake in Veeva Systems during the 4th quarter valued at approximately $29,000. Vermillion & White Wealth Management Group LLC purchased a new stake in Veeva Systems during the 4th quarter worth approximately $32,000. Blue Trust Inc. raised its position in shares of Veeva Systems by 3,460.0% in the 2nd quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock valued at $33,000 after purchasing an additional 173 shares in the last quarter. Finally, First Financial Corp IN purchased a new position in shares of Veeva Systems during the 1st quarter valued at approximately $35,000. 88.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 2,353 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $200.00, for a total value of $470,600.00. Following the completion of the sale, the senior vice president now directly owns 9,035 shares in the company, valued at $1,807,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 10.50% of the company’s stock.

Veeva Systems Stock Performance

Shares of VEEV stock opened at $211.04 on Tuesday. The firm has a market capitalization of $34.12 billion, a PE ratio of 62.25, a price-to-earnings-growth ratio of 2.12 and a beta of 0.81. Veeva Systems Inc. has a 1 year low of $162.72 and a 1 year high of $236.90. The stock has a fifty day moving average of $199.76 and a two-hundred day moving average of $201.29.

Veeva Systems (NYSE:VEEV) last announced its earnings results on Wednesday, August 28th. The technology company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.03. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. The firm had revenue of $676.18 million during the quarter, compared to analyst estimates of $667.21 million. Equities research analysts predict that Veeva Systems Inc. will post 4.2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Barclays upped their price target on shares of Veeva Systems from $220.00 to $240.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 price target on shares of Veeva Systems in a research report on Thursday, August 29th. Guggenheim boosted their price objective on Veeva Systems from $211.00 to $233.00 and gave the company a “buy” rating in a report on Thursday, July 18th. BTIG Research started coverage on Veeva Systems in a report on Tuesday, July 9th. They set a “buy” rating and a $240.00 target price on the stock. Finally, Stifel Nicolaus lowered their price target on Veeva Systems from $250.00 to $210.00 and set a “buy” rating for the company in a report on Friday, May 31st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $229.96.

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.