Veeva Systems Inc. (NYSE:VEEV) Shares Bought by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP grew its position in Veeva Systems Inc. (NYSE:VEEV) by 26.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 378,380 shares of the technology company’s stock after acquiring an additional 78,654 shares during the period. Dimensional Fund Advisors LP owned about 0.23% of Veeva Systems worth $69,259,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of VEEV. Western Pacific Wealth Management LP grew its position in shares of Veeva Systems by 23.3% in the first quarter. Western Pacific Wealth Management LP now owns 307 shares of the technology company’s stock valued at $71,000 after purchasing an additional 58 shares during the period. OV Management LLC lifted its position in shares of Veeva Systems by 1.0% in the second quarter. OV Management LLC now owns 6,659 shares of the technology company’s stock valued at $1,219,000 after acquiring an additional 63 shares in the last quarter. Simplicity Wealth LLC increased its position in shares of Veeva Systems by 1.7% during the second quarter. Simplicity Wealth LLC now owns 4,029 shares of the technology company’s stock worth $737,000 after purchasing an additional 69 shares in the last quarter. Wedmont Private Capital raised its stake in Veeva Systems by 3.8% in the 1st quarter. Wedmont Private Capital now owns 1,981 shares of the technology company’s stock valued at $429,000 after purchasing an additional 72 shares during the last quarter. Finally, Davidson Capital Management Inc. boosted its stake in Veeva Systems by 0.6% during the 1st quarter. Davidson Capital Management Inc. now owns 11,406 shares of the technology company’s stock worth $2,643,000 after purchasing an additional 72 shares during the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on VEEV. Canaccord Genuity Group dropped their price objective on shares of Veeva Systems from $220.00 to $210.00 and set a “hold” rating for the company in a research note on Friday, May 31st. Robert W. Baird lifted their price target on Veeva Systems from $245.00 to $251.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. JPMorgan Chase & Co. upped their price objective on shares of Veeva Systems from $203.00 to $208.00 and gave the company a “neutral” rating in a report on Monday, September 9th. Stifel Nicolaus reduced their target price on shares of Veeva Systems from $250.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, May 31st. Finally, Morgan Stanley dropped their price target on shares of Veeva Systems from $210.00 to $173.00 and set an “underweight” rating for the company in a research note on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $229.96.

Veeva Systems Stock Up 0.7 %

Shares of NYSE:VEEV opened at $210.90 on Friday. Veeva Systems Inc. has a fifty-two week low of $162.72 and a fifty-two week high of $236.90. The stock has a market cap of $34.15 billion, a price-to-earnings ratio of 61.79, a price-to-earnings-growth ratio of 2.02 and a beta of 0.81. The firm’s 50 day moving average price is $201.22 and its 200 day moving average price is $201.23.

Veeva Systems (NYSE:VEEV) last issued its earnings results on Wednesday, August 28th. The technology company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.03. The firm had revenue of $676.18 million during the quarter, compared to the consensus estimate of $667.21 million. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. On average, equities analysts anticipate that Veeva Systems Inc. will post 4.21 EPS for the current year.

Insider Transactions at Veeva Systems

In related 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 transaction, the senior vice president now directly owns 9,035 shares of the company’s stock, valued at $1,807,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 10.50% of the company’s stock.

Veeva Systems Company 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.