UBS Group AG reduced its stake in shares of Veeva Systems Inc (NYSE:VEEV) by 2.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 202,675 shares of the technology company’s stock after selling 4,181 shares during the period. UBS Group AG owned approximately 0.14% of Veeva Systems worth $14,799,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. boosted its position in shares of Veeva Systems by 54.1% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 38,760 shares of the technology company’s stock worth $2,143,000 after purchasing an additional 13,605 shares in the last quarter. AMP Capital Investors Ltd boosted its position in shares of Veeva Systems by 42.0% during the 4th quarter. AMP Capital Investors Ltd now owns 58,074 shares of the technology company’s stock worth $3,210,000 after purchasing an additional 17,180 shares in the last quarter. Xact Kapitalforvaltning AB boosted its position in shares of Veeva Systems by 7.7% in the 4th quarter. Xact Kapitalforvaltning AB now owns 18,061 shares of the technology company’s stock worth $998,000 after buying an additional 1,296 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of Veeva Systems by 19.5% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 187,114 shares of the technology company’s stock worth $10,344,000 after buying an additional 30,535 shares in the last quarter. Finally, Westover Capital Advisors LLC purchased a new stake in shares of Veeva Systems in the 4th quarter worth about $237,000. Institutional investors own 74.00% of the company’s stock.

In related news, EVP Alan Mateo sold 603 shares of the business’s stock in a transaction dated Monday, April 16th. The shares were sold at an average price of $72.59, for a total value of $43,771.77. Following the completion of the transaction, the executive vice president now owns 11,221 shares of the company’s stock, valued at approximately $814,532.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Timothy S. Cabral sold 50,000 shares of the business’s stock in a transaction dated Wednesday, June 6th. The shares were sold at an average price of $81.75, for a total transaction of $4,087,500.00. Following the completion of the transaction, the chief financial officer now directly owns 30,000 shares of the company’s stock, valued at approximately $2,452,500. The disclosure for this sale can be found here. Insiders sold a total of 125,261 shares of company stock valued at $10,167,454 in the last three months. 15.97% of the stock is currently owned by corporate insiders.

VEEV has been the topic of several recent research reports. Stifel Nicolaus boosted their price objective on shares of Veeva Systems from $67.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Canaccord Genuity boosted their price objective on shares of Veeva Systems from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Morgan Stanley boosted their price objective on shares of Veeva Systems from $72.00 to $76.00 and gave the stock an “overweight” rating in a research report on Thursday, March 1st. KeyCorp reiterated an “overweight” rating and issued a $81.00 price objective (up from $70.00) on shares of Veeva Systems in a research report on Friday, March 2nd. Finally, Zacks Investment Research upgraded shares of Veeva Systems from a “hold” rating to a “strong-buy” rating and set a $89.00 price objective on the stock in a research report on Wednesday, March 7th. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Veeva Systems has a consensus rating of “Buy” and an average price target of $76.82.

Shares of Veeva Systems opened at $82.84 on Friday, Marketbeat.com reports. Veeva Systems Inc has a twelve month low of $52.17 and a twelve month high of $85.00. The stock has a market capitalization of $11.99 billion, a P/E ratio of 90.04, a PEG ratio of 4.63 and a beta of 1.42.

Veeva Systems (NYSE:VEEV) last announced its earnings results on Thursday, May 24th. The technology company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.02. Veeva Systems had a net margin of 20.78% and a return on equity of 12.47%. The firm had revenue of $195.55 million during the quarter, compared to the consensus estimate of $188.92 million. During the same quarter in the previous year, the company posted $0.24 EPS. The firm’s revenue for the quarter was up 22.4% on a year-over-year basis. equities analysts expect that Veeva Systems Inc will post 1.02 earnings per share for the current fiscal year.

Veeva Systems Company Profile

Veeva Systems Inc provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, and internationally. The company offers Veeva Commercial Cloud, a suite of multichannel customer relationship management applications, which allow pharmaceutical and biotechnology companies to target and support sales and marketing to physicians, other healthcare professionals, and healthcare organizations through various touch points, including in-person, email, and online; and Veeva Vault, a cloud-based enterprise content management platform and suite of applications for managing commercial functions, including medical, sales, and marketing, as well as research and development functions, such as clinical, regulatory, and quality.

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

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