Messner & Smith Theme Value Investment Management Ltd. CA bought a new stake in Veeva Systems Inc (NYSE:VEEV) during the 4th quarter, HoldingsChannel reports. The fund bought 17,225 shares of the technology company’s stock, valued at approximately $952,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in VEEV. First Trust Advisors LP grew its position in Veeva Systems by 6.1% during the 3rd quarter. First Trust Advisors LP now owns 2,212,827 shares of the technology company’s stock worth $124,826,000 after purchasing an additional 126,869 shares during the period. State Street Corp grew its position in Veeva Systems by 52.1% during the 2nd quarter. State Street Corp now owns 1,856,894 shares of the technology company’s stock worth $113,851,000 after purchasing an additional 635,842 shares during the period. New York State Common Retirement Fund grew its position in Veeva Systems by 2.2% during the 3rd quarter. New York State Common Retirement Fund now owns 1,619,820 shares of the technology company’s stock worth $91,374,000 after purchasing an additional 35,073 shares during the period. Bank of New York Mellon Corp grew its position in Veeva Systems by 18.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 633,509 shares of the technology company’s stock worth $35,737,000 after purchasing an additional 97,686 shares during the period. Finally, Ameriprise Financial Inc. grew its position in Veeva Systems by 85.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 606,728 shares of the technology company’s stock worth $34,226,000 after purchasing an additional 279,769 shares during the period. 69.89% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages have weighed in on VEEV. Zacks Investment Research downgraded Veeva Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, October 24th. DA Davidson began coverage on Veeva Systems in a research report on Friday, February 2nd. They set a “buy” rating and a $75.00 price target on the stock. Vetr raised Veeva Systems from a “buy” rating to a “strong-buy” rating and set a $61.05 price target on the stock in a research report on Thursday. Canaccord Genuity reaffirmed a “buy” rating and set a $70.00 price target on shares of Veeva Systems in a research report on Wednesday, December 6th. Finally, Morgan Stanley upgraded Veeva Systems from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $67.54.

In related news, EVP Alan Mateo sold 701 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $58.85, for a total value of $41,253.85. Following the transaction, the executive vice president now directly owns 9,512 shares of the company’s stock, valued at approximately $559,781.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Frederic Lequient sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $62.00, for a total transaction of $930,000.00. Following the completion of the transaction, the senior vice president now directly owns 15,000 shares in the company, valued at $930,000. The disclosure for this sale can be found here. Insiders have sold a total of 176,017 shares of company stock worth $10,171,895 over the last 90 days. Insiders own 17.50% of the company’s stock.

Shares of Veeva Systems Inc (VEEV) opened at $55.45 on Monday. Veeva Systems Inc has a 12-month low of $41.30 and a 12-month high of $68.07. The company has a market capitalization of $7,837.47, a PE ratio of 93.98, a PEG ratio of 5.72 and a beta of 1.66.

Veeva Systems (NYSE:VEEV) last posted its earnings results on Tuesday, December 5th. The technology company reported $0.25 EPS for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.09. Veeva Systems had a return on equity of 12.21% and a net margin of 19.97%. The firm had revenue of $176.10 million for the quarter, compared to analysts’ expectations of $171.99 million. During the same period last year, the firm earned $0.22 EPS. The company’s quarterly revenue was up 23.3% on a year-over-year basis. research analysts forecast that Veeva Systems Inc will post 0.68 EPS for the current year.

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About Veeva Systems

Veeva Systems Inc (Veeva) is a provider of cloud-based software solutions for the global life sciences industry. The Company offers solutions for a range of requirements within life sciences companies, including multichannel customer relationship management, regulated content and information management, master data management and customer data.

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

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