Northwestern Mutual Wealth Management Co. Has $2.03 Million Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Northwestern Mutual Wealth Management Co. raised its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 122.2% in the second quarter, HoldingsChannel reports. The institutional investor owned 11,116 shares of the technology company’s stock after purchasing an additional 6,114 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Veeva Systems were worth $2,034,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Rafferty Asset Management LLC grew its stake in shares of Veeva Systems by 24.0% in the 4th quarter. Rafferty Asset Management LLC now owns 15,899 shares of the technology company’s stock valued at $3,061,000 after buying an additional 3,077 shares in the last quarter. Vermillion & White Wealth Management Group LLC bought a new stake in Veeva Systems in the fourth quarter worth approximately $32,000. Seven Eight Capital LP increased its stake in shares of Veeva Systems by 182.5% during the 4th quarter. Seven Eight Capital LP now owns 8,515 shares of the technology company’s stock worth $1,639,000 after purchasing an additional 5,501 shares during the last quarter. Platinum Investment Management Ltd. raised its holdings in shares of Veeva Systems by 325.3% during the 4th quarter. Platinum Investment Management Ltd. now owns 14,935 shares of the technology company’s stock valued at $2,875,000 after purchasing an additional 11,423 shares in the last quarter. Finally, Personal CFO Solutions LLC lifted its stake in shares of Veeva Systems by 18.4% in the 4th quarter. Personal CFO Solutions LLC now owns 1,292 shares of the technology company’s stock valued at $249,000 after purchasing an additional 201 shares during the last quarter. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Veeva Systems Stock Performance

Shares of Veeva Systems stock opened at $204.53 on Friday. The firm has a market cap of $33.06 billion, a P/E ratio of 60.33, a price-to-earnings-growth ratio of 2.02 and a beta of 0.81. The firm’s 50-day simple moving average is $203.71 and its 200-day simple moving average is $200.28. Veeva Systems Inc. has a twelve month low of $162.72 and a twelve month high of $236.90.

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

Wall Street Analyst Weigh In

Several equities analysts have commented on VEEV shares. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 target price on shares of Veeva Systems in a research report on Thursday, August 29th. TD Cowen lifted their target price on shares of Veeva Systems from $180.00 to $192.00 and gave the stock a “hold” rating in a report on Thursday, August 29th. Citigroup raised their price target on Veeva Systems from $256.00 to $273.00 and gave the company a “buy” rating in a research report on Tuesday, August 27th. Guggenheim boosted their price objective on Veeva Systems from $233.00 to $249.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 target price on shares of Veeva Systems in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $230.65.

Insider Activity at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 2,353 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $200.00, for a total transaction of $470,600.00. Following the completion of the transaction, the senior vice president now directly owns 9,035 shares in the company, valued at $1,807,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 10.50% of the stock is owned by insiders.

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.