Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Panagora Asset Management Inc.

Panagora Asset Management Inc. reduced its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 0.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 131,201 shares of the technology company’s stock after selling 701 shares during the period. Panagora Asset Management Inc. owned 0.09% of Veeva Systems worth $37,808,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in VEEV. Price T Rowe Associates Inc. MD lifted its position in Veeva Systems by 9.5% during the second quarter. Price T Rowe Associates Inc. MD now owns 11,341,548 shares of the technology company’s stock valued at $3,526,654,000 after buying an additional 983,136 shares in the last quarter. Amundi acquired a new position in Veeva Systems during the second quarter valued at approximately $210,874,000. 1832 Asset Management L.P. lifted its position in Veeva Systems by 1,729,500.0% during the second quarter. 1832 Asset Management L.P. now owns 345,920 shares of the technology company’s stock valued at $109,218,000 after buying an additional 345,900 shares in the last quarter. Geode Capital Management LLC lifted its position in Veeva Systems by 18.6% during the second quarter. Geode Capital Management LLC now owns 1,928,524 shares of the technology company’s stock valued at $598,880,000 after buying an additional 301,868 shares in the last quarter. Finally, Artisan Partners Limited Partnership lifted its position in Veeva Systems by 4.2% during the second quarter. Artisan Partners Limited Partnership now owns 6,609,878 shares of the technology company’s stock valued at $2,055,342,000 after buying an additional 265,091 shares in the last quarter. 78.19% of the stock is currently owned by institutional investors.

A number of analysts have recently issued reports on the stock. William Blair reiterated a “buy” rating on shares of Veeva Systems in a research note on Wednesday, October 20th. SVB Leerink upgraded shares of Veeva Systems from a “market perform” rating to an “outperform” rating and set a $282.00 price objective on the stock in a research note on Thursday, January 6th. Stifel Nicolaus assumed coverage on shares of Veeva Systems in a research note on Friday, October 1st. They set a “buy” rating and a $335.00 price objective on the stock. TheStreet lowered shares of Veeva Systems from a “b-” rating to a “c+” rating in a research note on Thursday. Finally, Stephens lowered shares of Veeva Systems from an “overweight” rating to an “equal weight” rating and set a $275.00 price target for the company. in a research note on Friday, January 7th. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $328.32.

In other news, SVP Jonathan Faddis sold 1,667 shares of the company’s stock in a transaction dated Monday, October 18th. The stock was sold at an average price of $308.29, for a total value of $513,919.43. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ronald E. F. Codd sold 11,625 shares of the company’s stock in a transaction dated Thursday, December 23rd. The shares were sold at an average price of $261.05, for a total value of $3,034,706.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,805 shares of company stock worth $9,493,499. Corporate insiders own 13.18% of the company’s stock.

Shares of Veeva Systems stock opened at $223.85 on Friday. The company’s 50-day moving average price is $271.83 and its two-hundred day moving average price is $299.51. Veeva Systems Inc. has a 52 week low of $221.48 and a 52 week high of $343.96. The stock has a market cap of $34.42 billion, a PE ratio of 83.84, a price-to-earnings-growth ratio of 5.71 and a beta of 0.75.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings results on Wednesday, December 1st. The technology company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.88 by $0.09. Veeva Systems had a net margin of 24.59% and a return on equity of 16.16%. During the same period in the previous year, the firm earned $0.54 EPS. Equities research analysts anticipate that Veeva Systems Inc. will post 2.56 EPS for the current fiscal year.

Veeva Systems Company Profile

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.

Featured Article: What is the Moving Average Convergence Divergence (MACD) oscillator?

Want to see what other hedge funds are holding VEEV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Veeva Systems Inc. (NYSE:VEEV).

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

Receive News & Ratings for Veeva Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Veeva Systems and related companies with MarketBeat.com's FREE daily email newsletter.