Veeva Systems Inc. (NYSE:VEEV) Shares Bought by Toronto Dominion Bank

Toronto Dominion Bank boosted its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 0.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,505 shares of the technology company’s stock after buying an additional 44 shares during the period. Toronto Dominion Bank’s holdings in Veeva Systems were worth $6,065,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MV Capital Management Inc. acquired a new position in shares of Veeva Systems in the second quarter worth $31,000. Clearstead Advisors LLC purchased a new stake in Veeva Systems during the first quarter valued at about $28,000. Huntington National Bank grew its position in Veeva Systems by 22.7% during the second quarter. Huntington National Bank now owns 184 shares of the technology company’s stock valued at $57,000 after acquiring an additional 34 shares during the period. Lloyd Advisory Services LLC. grew its position in Veeva Systems by 47.3% during the second quarter. Lloyd Advisory Services LLC. now owns 221 shares of the technology company’s stock valued at $69,000 after acquiring an additional 71 shares during the period. Finally, Newfound Research LLC grew its position in Veeva Systems by 57.1% during the second quarter. Newfound Research LLC now owns 289 shares of the technology company’s stock valued at $90,000 after acquiring an additional 105 shares during the period. 77.78% of the stock is currently owned by institutional investors.

In related news, EVP Alan Mateo sold 2,347 shares of the company’s stock in a transaction on Monday, October 11th. The shares were sold at an average price of $285.90, for a total value of $671,007.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Matthew J. Wallach sold 5,000 shares of the company’s stock in a transaction on Monday, August 23rd. The stock was sold at an average price of $322.25, for a total transaction of $1,611,250.00. Following the completion of the transaction, the director now directly owns 6,522 shares of the company’s stock, valued at $2,101,714.50. The disclosure for this sale can be found here. Insiders have sold a total of 16,695 shares of company stock valued at $5,203,115 in the last ninety days. Company insiders own 13.18% of the company’s stock.

A number of research firms have issued reports on VEEV. Bank of America boosted their price target on Veeva Systems from $340.00 to $350.00 and gave the company a “buy” rating in a research report on Thursday, September 2nd. JMP Securities upped their target price on Veeva Systems from $320.00 to $345.00 and gave the stock an “outperform” rating in a research report on Thursday, September 2nd. SVB Leerink upped their target price on Veeva Systems from $294.00 to $296.00 and gave the stock a “market perform” rating in a research report on Thursday, September 2nd. Citigroup increased their price target on Veeva Systems from $340.00 to $356.00 and gave the company a “buy” rating in a report on Thursday, September 2nd. Finally, UBS Group increased their price target on Veeva Systems from $270.00 to $320.00 and gave the company a “neutral” rating in a report on Thursday, September 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Veeva Systems presently has a consensus rating of “Buy” and a consensus price target of $343.65.

VEEV stock opened at $299.00 on Thursday. The company has a 50 day moving average price of $308.15 and a 200 day moving average price of $296.49. Veeva Systems Inc. has a fifty-two week low of $235.74 and a fifty-two week high of $343.96. The stock has a market capitalization of $45.87 billion, a PE ratio of 114.12, a price-to-earnings-growth ratio of 6.74 and a beta of 0.73.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings data on Tuesday, August 31st. The technology company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.07. Veeva Systems had a net margin of 25.51% and a return on equity of 16.35%. The firm had revenue of $455.59 million during the quarter, compared to analysts’ expectations of $450.93 million. During the same quarter in the previous year, the company posted $0.72 EPS. Veeva Systems’s revenue was up 28.8% on a year-over-year basis. On average, equities research analysts anticipate that Veeva Systems Inc. will post 2.47 earnings per share for the current year.

About Veeva Systems

Veeva Systems, Inc engages in the provision of industry cloud solutions for the global life sciences industry. Its solutions enable pharmaceutical and other life sciences companies to realize the benefits of modern cloud-based architectures and mobile applications for their most critical business functions, without compromising industry-specific functionality or regulatory compliance.

Further Reading: Forex

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Institutional Ownership by Quarter for Veeva Systems (NYSE:VEEV)

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